88E

88 Energy Web Site Address
http://88energy.com/

Number 88 symbolizes fortune and good luck in Chinese culture, since the word 8 sounds similar to the word fā (发, which implies 发财, or wealth, in Mandarin or Cantonese). The number 8 is considered to be the luckiest number in Chinese culture, and prices in Chinese supermarkets often contain many 8s.

88E_UA5_010.png

Strategy

The companys goal is to build a successful exploration and production company that delivers material benefits to its shareholders and contributes to the development of the regions in which it works.

It aims to achieve this by targeting overlooked or emerging play types where its small team of experts can move quickly to capitalise on opportunities prior to larger industry players moving in.

The opportunities the company will seek will be based on robust technical evaluation together with informed socio-political decisions and cultural sensitivity in business relationships.

https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01599266 (page11)

notes on possibility of production (from recent Q & A's)

Q What is the long term plan with the new Western Block project? Once drilled and proven, do you intend to continue as a producer and use the money generated to help fund any of the other projects? Or will you look to sell 88E's stake in the venture at that point to provide quicker access to a higher working capital?
A If it is successful then we will pursue the most accretive path for shareholders – could be an outright sale or could be that we fund it into development. Depends on many factors.

Q Is it possible, and our intention, to gain a Full Oil Production licence at Franklin Bluffs with multiple horizontal unconventional well setup? (For us or Farmee.) (Noting Alaska Gov serious need for tax revenues.)
A The equivalent to what you are asking is called a “Unit” – which comes with development plans and expenditure commitments. Now is not the right time to do that.

Q Given we have now shut in for winter with no plan in place for this to happen would Dave still consider that when we come out of hibernation are we still looking at 50/50 for a successful of IW2 or has the chances diminished to something less than 50/50. 2. Are we considering becoming a producer with a partner on the conventional oil to give us a war chest to do more work on the HZR at so point down the road.
DW We have not modified the 50/50 – if there was a material change we would announce. We consider a lot of things. This is a possible outcome. No guarantee it will happen though. ( Q & A 10/17)

Directors and Management

Mr Michael Evans
Non-Executive Chairman
Mr Michael Evans (Non-Executive Chairman, appointed 9 April 2014). Mr Evans, a Chartered Accountant based in Perth, has extensive executive and board level experience with publicly listed companies in the natural resources sector spanning 30 years

Mr David Wall
Managing Director
As a leading oil and gas equity analyst for the past six and a half years, Mr Wall brings extensive experience with junior oil and gas exploration companies. His skillset spans asset evaluation across many fiscal regimes / play types as well as corporate advisory / M&A and equity capital markets, having led >$300m in capital raisings.
Dr Stephen Staley
Non-Executive Director
Dr Stephen Staley ( Non-Executive Director, appointed 9 April 2014). Dr Staley has 30 years’ of management and technical experience in the European, African and Asian oil, gas and power sectors, including with Conoco and BP.
Mr Erik Opstad
General Manager of Alaskan Operations
Mr. Erik Opstad has been General Manager of Alaskan Operations at 88 Energy Limited since May 2015. Mr. Opstad is a 35 year veteran of the oil and gas industry with a broad range of experience in the value chain. He has drilling engineering experience combined with a geological background and has a demonstrated focus on project execution and cost control. His experience was as Principal and General Manager / Drilling & Wells Manager for Savant Alaska LLC, a successful …

Mr Ashley Gilbert CFO (Jan 2017)

Experience

88 Energy Ltd

Chief Financial Officer

Company Name 88 Energy Ltd

Dates Employed Jan 2017 – Present

Location •Perth, Australia

Employed as C.F.O. of 88 Energy Ltd (ASX: 88E, AIM: 88E), an entity that operates a vast ~271,000 contiguous acres on the prolific oil rich world class Northern Slope of Alaska.

88E is headquartered in Perth, Western Australia, with an office in Anchorage, Alaska.

Responsibilities include the direction and management of the financial activities of 88E, including but not limited to;

• Lead & manage the financial operations located in Australia and Alaska;
• Manage group financial reporting in accordance with regulatory & audit requirements;
• Ensure compliance with all external financial and tax requirements for the Group;
• Regular reporting to the CEO and the Board on financial, treasury and risk management issues;
• Lead and manage the budgeting & forecasting processes;
• Ensure continuous development of 88E‘s financial reporting processes and procedures to mitigate financial risk;
• Manage 88E's insurance programme together with the CEO and ensure appropriate insurance coverage is in place;
• Evaluate, challenge and support the CEO in negotiation of 88E's potential investment opportunities;
• Support the CEO with investor relations activities including regular meetings with Australian and U.K. advisors and investor road shows;
• Support the CEO with funding activities including management / negotiation of debt instruments for the Company, and support capital raising activities;
• Maintain key relationships with bankers and oversee treasury function for the 88E; and
• Support the CEO and Board with ad hoc projects as and when required

88E is listed on AIM in the UK , ASX and Chi-X in Australia.

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