Ann: Hickory-1 Upper SFS Zone Flows Light Oil, page-365

88E delivered a flow rate of oil to the surface from its USFS. 88E recorded a peak flow rate of 70 barrels of oil per day. This could’ve been much higher if they allowed more. Obviously they’re time restricted as they still have to prove the SMD-B which clearly is on track with drone footage of the flare…

88E’s result of oil quality ~40 API which indicates quality light crude oil…

Both quality and recoverability proven…

Not many ASX listed oil&gas companies can even claim a successful flow test…

These flow results are all from vertical wells - production rates in long horizontal wells are typically 10 times higher than vertical well tests…

88E’s flow test result was from a reservoir that Pantheon HAS NOT DISCOVERED on its ground yet - so this is an entirely new oil discovery by 88E...

Flow rates and cuts would be much higher if they tested for a longer period. Why test longer when you are time bound and already know you can achieve peak rates around 77 with no artificial lift… something not achieved by Pantheon

Cuts are not lineal but obviously increase with flow rates of oil. We could expect perhaps 16-18% at flow rate of 100 BOPD

Anything above 40 BOPD at the SMD-B will be a massive success….GLAH