88E 0.00% 0.2¢ 88 energy limited

Recoverable Oil from Icewine

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    Key Assumptions:
    · Mean liquids by weight = 3.5%
    · Average thickness of HRZ shale = 170’ (52m)
    · HRZ shale extends across all 272,000 acres
    · Shale Rock density of 2000 kg/m3 *
    · Weight of oil per barrel = 140kg **
    Volume = Area x Thickness = 1,100,512,000 x 52 = 57,226,624,000 m3
    Total rock weight = Rock density x Volume = 2000 x 57,226,624,000 = 114,453,248,000,000 kg
    Total liquids weight (at 3.5%) = 0.035 x 114,453,248,000,000 = 4,005,863,680,000 kg
    Barrels of oil in place = Total liquids weight/ weight per barrel = 4,005,863,680,000 / 140kg
    = 28,613,312,000 barrels (28 billion barrels)

    Barrels Recoverable (assuming 10% recovery) = 2.8 billion barrels oil

    Barrels Recoverable (assuming 20% recovery) = 5.6 billion barrels oil

    Barrels Recoverable (assuming 30% recovery) = 8.4 billion barrels oil

    Barrels Recoverable (assuming 40% recovery) = 11.2 billion barrels oil

    Barrels Recoverable (assuming 50% recovery) = 14.0 billion barrels oil and so on now as it is been de-risked,

    Could be higher and also we still have the 2 conventional plays,

    Prudhoe Bay is 80% Recoverable so lets wait for the TRANSFORMATIONAL 88E IRR

    VERY HAPPY EASTER EVERYONE
 
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