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88 Energy Ltd
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April 2024 Investor Presentation
| David Wall | Page 19 of 11 |
May 02, 2024
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"April 2024 Investor Presentation"
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Significant new structural play identified Well-defined sedimentary basin with proven oil charge, reservoirs and seals 19 ? A series of large, anticlinal structures have been identified in the onshore Owambo Basin, collectively expected to represent a multi- billion-barrel exploration opportunity ? Initial exploration in the Owambo basin has focused on the shallow, “Karoo play” however attention has turned to the substantial potential of the deeper largely untested “Damara Play” ? The Damara play resulted from a large fold and thrust episode, providing significant independent targets for exploration of an equivalent size to those discovered offshore Namibia where an exploration renaissance is underway with ~88% success rate with recent wells discovering oil ? Monitor have utilised a range of geophysical and geochemical techniques to identify and validate the significant potential of the acreage Figure: Idealised Owambo basin cross section highlighting critical elements of the recently identified Damara Play, with noted untested potential oil pay highlighted in green 1,2 . 1. Recon 6-2 well resides approximately 250km east of PEL 93