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.

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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

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.
Mr Brent Villemarette
Non-Executive Director
Mr Brent Villemarette is a petroleum engineer with more than 30 years experience in the oil and gas industry, both domestic and international.
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 John Annand

Experience

88 Energy Limited

Consulting Chief Financial Officer (temporary contract)

Company Name 88 Energy Limited

Dates Employed Jul 2016 – Present

Employment Duration •7 mos

Location •Perth, Australia

Currently working as a consultant with 88 Energy Limited which is the Operator of both conventional and unconventional oil projects on the North Slope of Alaska. My role at 88 Energy includes the implementation of financial systems and processes to ensure compliance with the relevant joint venture agreements and reviewing key contractual arrangements to assist in developing joint venture management strategies. In addition, I have been mentoring staff to help them better understand the finance processes within their roles and responsibilities.

Key accountabilities include:
- understanding the various Project Icewine agreements in order to implement systems and processes to ensure that all material financial and reporting obligations are being met;
- mapping and amending the various financial processes across both 88 Energy and Project Icewine to ensure consistency allowing for more efficient financial reporting and analysis;
- the design and implementation of a monthly Project Icewine financial statement preparation process;
- the design and implementation of a Project Icewine cash call process; and
- the design and implementation of a cost recovery process for 88 Energy as Operator of Project Icewine

Mr Ashley Gilbert CFO (Jan 2017)

Experience

88 Energy Ltd

Chief Financial Officer

Company Name 88 Energy Ltd

Dates Employed Jan 2017 – Present

Employment Duration •2 mos

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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