Charlie-1 target valuations Mean/Low/High, page-27

Hi beast666,

So what you are saying, is that Premier have just gone out side and throw out, in the wind 23 Million dollars.

88 Energy has signed a Sale and Purchase Agreement (“SPA”) with Premier Oil Plc (“Premier”)
whereby Premier will farm-in for a 60 per cent interest in Area A (also referred to as the Western Play
Fairway) of the conventional Project Icewine acreage in the proven Alaska North Slope basin (see
Fig. 1). 88 Energy will retain a 30% working interest in Area A with the remaining 10% working interest
held by Burgundy Xploration LLC (“Burgundy”).

Under the terms of the SPA, Premier will pay the full costs of an appraisal well, designated as
Charlie-1, up to a total of US$23 million to test the reservoir deliverability of the Malguk-1
discovery. The well will be drilled and tested in Q1 2020 with rig options having already been identified
and contracting negotiations underway. On successful completion of the work programme, Premier
will have the option to assume operatorship.

http://clients3.weblink.com.au/pdf/88E/02137409.pdf

Do your save a favour and read the announcement's or even better get your post removed.

At least us share holders, under stand the risk.

INHO

Regards

Rossi70