Production (~70% oil) has increased over 70% since acquisition in mid-February 2022.Merlin-2 demobilisation completed in April and majority of invoices paid before quarter end.Multiple independent drill ready targets remain untested (Harrier-1 & Merlin-1A).Ongoing Merlin-2 post well studies to assess future exploration potential.Planning underway for a new exploration well expected to spud in 2023.Completion of independent resource report ongoing, scheduled in early Q3 2022.(SAE) for use of SAE’s Franklin Bluffs 3D seismic survey data (FB3D), covering a significant area over the Icewine East leases, inculding areas over the SMD, SFS and BFF reservoir units. Licensing agreement executed with SAExploration, Inc.Completed in-depth petrophysical re-evaluation of Icewine-1 and the broader Icewine East acreage, with results indicating comparable, or better, reservoir quality in some reservoir units relative to those of Pantheon’s tested intervals which flowed oil.Icewine East third-party evaluation of the Shelf Margin Delta (SMD), Slope Fan Set (SFS) and Basin Floor Fan (BFF) play fairways was completed in May 2022, which interpreted all of Pantheon reservoir units (SMD, SFS, BFF) to extend onto 88 Energy’s Icewine East acreage.88 Energy Limited (ASX:88E, AIM:88E, OTC:EEENF) (88 Energy or the Company) provides the following report for the quarter ended 30 June 2022.