Focus on Gulf of Mexico
Alaska
Otto to Drill Large Nanushuk Oil Prospect on the Alaska North Slope in Early 2019
• 400 MMbbl² gross best estimate prospective resource
target on the Alaska North Slope. Otto's 18.75% net
revenue interest (before Great Bear 10% back in - refer
table) would be 75 MMbbls².
• Winx-1 drilling target is a direct analogue to the
Horseshoe-1/1A oil well drilled in 2017' located less than
one mile to the west.
• Horseshoe-1/1A is part of the billion barrel plus Nanushuk
oil play-fairway, one of the largest recent conventional oil
discoveries on the Alaska North Slope'.
•
Oil Search's (OSH) Pikka discovery to the west and the
Conoco-Phillips Meltwater unit facility ~10 miles to the
east.
Nearby infrastructure ensures cost effective route to
market in event of a discovery. Project economics will be
further enhanced by the shallow nature of the oil pool.
• Rig has been contracted for the Winx-1 well to be drilled in
the first quarter of 2019.
Western Blocks
Focus Area
Horseshoe-1
Colville River
ConocoPhillips
2018 Bear 3D
Nanushuk play-fairway
Kalubik Thets Nikalchuk
or Qoogruk
uigsut
le Oil Sands
Tarn
Ithill River-1
Meltwater
Central Blocks
Focus Area
Sandpiper
ARCTIC OCEAN
Northstar
Endicott
Greater Kuparuk
Greater Prudhoe Bay
Liberty
Otto Energy Alaskan Acreage Position
"Hemi Springs
Mickelson Badami
Recent drilling
Potential Nanushuk play fairway
0 5 10 15 20
KILOMETRES
0
10
15
20
MILES
The relevant interests in the Western Blocks under the commercial agreements are as follows
(subject to regulatory approval by the State of Alaska):
Net Revenue
Interest*
(before back-in)
18.75%
Working Interest
(after back-in)
Current
Working
Interest
Post-transaction
Working Interest
(before back-in)
Paying Interest
(before back-in)
Otto Energy
10.8%
22.5%
25.0%
20.0%
88 Energy (Drilling
36.0%
40.0%
30.00%
32.0%
Management)
Red Emperor
31.5%
35.0%
26.25%
28.0%
Great Bear
89.2%
10.0%
8.33%
20.0%
Petroleum**
State of Alaska
16.67%
100%
100.0%
100%
100%
100%
1. Referenced from the Repsol press release of 9 March 2017.
2. Refer ASX release dated 25 June 2018.
OTTO ENERGY | ASX: OEL
*Government royalty of 16.67%. **Currently Operator of record on leases.
16View entire presentation