Investor Presentation

24 March 2015 88 ENERGY LIMITED Investor Presentation 88 Energy Limited ("88E", "Company") wishes to advise that a copy of theCompany's latest Investor Presentation (March 2015) is available on theCompany's website at www.88energy.com This presentation is to be used at the Mines and Money conference held in HongKong, and key investment highlights noted include the following: Objective: Compelling oil play with unique logistics, market access, & fiscalincentives * 99,360 acres onshore North Slope, Alaska with 10 year lease term & 16.5% royalty * Settlement of Icewine acquisition expected 2Q 2015 * Two world class objectives in the kitchen of North America's largest oil field * + Unconventional: 492 MMBO estimated recoverable (gross mean unrisked)* + Conventional: 4.0 BBO undiscovered potential (Central North Slope Platform AU, USGS 2013) * Seeking astute investor to participate in fast track Icewine exploration program to unlock potential * 88 Energy operates the JV with originating-partner Burgundy Xploration (BEX), Houston Why NOW? * Globally unique risk/reward due to 75-85% E&D CASH rebate from the State * Depressed oil / share price creates bottom of cycle entry and maximises potential returns * Catalysts * + High impact peer drilling campaign on adjacent acreage underway + Oil price rebound over 6-18 months - quality companies will rise higher /faster + Possible farm-out driven by project quality and attractive rebates + Existing gravel pad provides opportunity to bring forward drilling for CY2015 spud *Cautionary Statement: The estimated quantities of petroleum that may bepotentially recovered by the application of a future development project relateto undiscovered accumulations. These estimates have both an associated risk ofdiscovery and a risk of development. Further exploration, appraisal andevaluation are required to determine the existence of a significant quantity ofpotentially movable hydrocarbons. Prospective Resource assessments in thisrelease were estimated using probabilistic methods in accordance with SPE-PRMSstandards. *Source: DeGolyer & MacNaughton, Independent Prospective Resources Report as ofDecember 31, 2014 Pursuant to the requirements of the ASX Listing Rules Chapter 5 the technicalinformation and resource reporting contained in this presentation was preparedby, or under the supervision of, Mr Brent Villemarette, who is a Non ExecutiveDirector of the Company. It has been produced for the Company, and at itsrequest, for adoption by the Directors. Mr Villemarette has more than 30 yearsexperience in the petroleum industry and is a qualified Reservoir Engineer whohas sufficient experience that is relevant to the style and nature of the oilprospects under consideration and to the activities discussed in this document.He has consented to the inclusion of the petroleum prospective resourceestimates prepared by DeGolyer & MacNaughton (as of 31 December 2014) andsupporting information being included in this announcement in the form andcontext in which they are presented. His academic qualifications and industrymemberships appear on the Company's website and both comply with the criteriafor "Competence" under clauses 18-21 of the Valmin Code 2005. Terminology andstandards adopted by the Society of Petroleum Engineers "Petroleum ResourcesManagement System" have been applied in producing this document. DAVID WALLManaging Director 88 Energy LimitedLevel 2, 5 Ord StreetWest Perth WA 6005, AustraliaPh: + 61 8 9485 0990www.88energy.com Contacts RFC Ambrian Limited As Nominated AdviserMr Oliver Morse+61 8 9480 2500