88 Energy Management

Management criteria checks 2/4

88 Energy's CEO is Ashley Gilbert, appointed in May 2021, has a tenure of 3.5 years. total yearly compensation is A$896.94K, comprised of 60.4% salary and 39.6% bonuses, including company stock and options. directly owns 0.14% of the company’s shares, worth A$82.28K. The average tenure of the management team and the board of directors is 3.4 years and 3.4 years respectively.

Key information

Ashley Gilbert

Chief executive officer

AU$896.9k

Total compensation

CEO salary percentage	60.4%
CEO tenure	3.5yrs
CEO ownership	0.1%
Management average tenure	3.4yrs
Board average tenure	3.4yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ashley Gilbert's remuneration changed compared to 88 Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Jun 30 2024	n/a	n/a	-AU$33m
Mar 31 2024	n/a	n/a	-AU$24m
Dec 31 2023	AU$897k	AU$542k	-AU$14m
Sep 30 2023	n/a	n/a	-AU$15m
Jun 30 2023	n/a	n/a	-AU$15m
Mar 31 2023	n/a	n/a	-AU$43m
Dec 31 2022	AU$711k	AU$473k	-AU$71m
Sep 30 2022	n/a	n/a	-AU$70m
Jun 30 2022	n/a	n/a	-AU$70m
Mar 31 2022	n/a	n/a	-AU$36m
Dec 31 2021	AU$805k	AU$385k	-AU$2m
Sep 30 2021	n/a	n/a	-AU$10m
Jun 30 2021	n/a	n/a	-AU$18m
Mar 31 2021	n/a	n/a	-AU$20m
Dec 31 2020	AU$478k	AU$311k	-AU$22m
Sep 30 2020	n/a	n/a	-AU$17m
Jun 30 2020	n/a	n/a	-AU$11m
Mar 31 2020	n/a	n/a	-AU$24m
Dec 31 2019	AU$454k	AU$302k	-AU$37m
Sep 30 2019	n/a	n/a	-AU$34m
Jun 30 2019	n/a	n/a	-AU$32m
Mar 31 2019	n/a	n/a	-AU$19m
Dec 31 2018	AU$365k	AU$275k	-AU$6m
Sep 30 2018	n/a	n/a	-AU$6m
Jun 30 2018	n/a	n/a	-AU$6m
Mar 31 2018	n/a	n/a	-AU$7m
Dec 31 2017	AU$768k	AU$255k	-AU$8m

Compensation vs Market: Ashley's total compensation ($USD587.96K) is above average for companies of similar size in the Australian market ($USD299.60K).

Compensation vs Earnings: Ashley's compensation has increased whilst the company is unprofitable.

CEO

Ashley Gilbert (47 yo)

3.5yrs

Tenure

AU$896,938

Compensation

Mr. Ashley Phillip Gilbert, B.Comm, CA, A Fin, GAICD, CSA(Cert) serves as Managing Director and Director at 88 Energy Limited since May 10, 2021. Mr. Gilbert serves as Director at XCD Energy Limited since...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ashley Gilbert	MD & Director	3.5yrs	AU$896.94k	0.14% A$ 82.3k
Oliver Mortensen	Chief Financial Officer	3yrs	AU$529.01k	no data
Robert Benkovic	Chief Operating Officer	3.3yrs	AU$772.84k	no data
Elizabeth Pattillo	Senior Geologist & Exploration Manager	no data	no data	no data
Sarah Smith	Company Secretary	3.5yrs	no data	no data

3.4yrs

Average Tenure

Experienced Management: 88E's management team is considered experienced (3.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ashley Gilbert	MD & Director	3.5yrs	AU$896.94k	0.14% A$ 82.3k
George Henry Staley	Independent Non-Executive Director	10.6yrs	AU$117.05k	0.046% A$ 26.9k
Philip Byrne	Non-Executive Chairman	3.3yrs	AU$207.10k	no data
Joanne Williams	Non-Executive Director	3.3yrs	AU$124.04k	no data

3.4yrs

Average Tenure

56.5yo

Average Age

Experienced Board: 88E's board of directors are considered experienced (3.4 years average tenure).

88 Energy Management

Management criteria checks 2/4

Key information

Recent management updates

88 Energy Limited, Annual General Meeting, May 02, 2024

88 Energy Limited, Annual General Meeting, Jan 15, 2024

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, Nov 11, 2022

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, May 16, 2022

Recent updates

88 Energy Limited Reports Contingent Resource Update for Project Phoenix

New major risk - Financial position

88 Energy Limited Provides Project Phoenix Update

88 Energy Limited Reports Maiden Internal Prospective Resource Estimate

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 9.875925 million.

88 Energy Limited Provides Further Information on Hickory-1 Flow Test Results

88 Energy Limited Announce Flow Test Results from its Hickory-1 Discovery Well, Located in Project Phoenix on the North Slope of Alaska

88 Energy Limited Provides Update on Ongoing Flow Testing Operations At the Hickory-1 Well Within Its Project Phoenix Acreage Located on the North Slope of Alaska

New minor risk - Financial data availability

88 Energy Limited, Annual General Meeting, May 02, 2024

88 Energy Limited Announces Hickory-1 Flow Test Operations Update

88 Energy Limited Announces Hickory-1 Flow Test Imminent - Final Preparations Underway

88 Energy Limited Reports the Hickory-1 Well Ice Pad Construction Has Commenced and That Pre-Flow Test Operations

88 Energy Limited Provides an Update in Relation to the Hickory-1 Flow Testing Program At Project Phoenix on the North Slope, Alaska

88 Energy Limited, Annual General Meeting, Jan 15, 2024

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 9.9 million.

Price target increased by 9.2% to AU$0.021

88 Energy Limited Provides Project Phoenix – BFF Contingent Resource Estimate

New major risk - Financial position

88 Energy Limited Announces Mapping of the Recently Identified Upper Slope Fan System Across its Project Pheonix Acreage

New minor risk - Financial data availability

88 Energy Limited Announces Updates on Project Peregrine Prospective Resources

88 Energy Limited (ASX:88E) and Lonestar I, LLC acquired 75% interest in Bighorn Energy LLC for $1.5 million.

88 Energy Limited Provides an Update in Relation to the Hickory-1 Flow Testing Program At Project Phoenix on the North Slope, Alaska

88 Energy Limited Receives Permit to Drill the Hickory-1 Exploration Well

88 Energy Limited Executes A Rig Contract with Nordic-Calista LLC

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, Nov 11, 2022

88 Energy Limited Announces Completion of Franklin Bluffs 3D Seismic - Icewine East

88 Energy Limited Provides Update on Project Icewine East Prospective Resource Estimate

88 Energy Limited Announces Maiden Independent Prospective Resource Estimate Completed At Project Icewine East

88 Energy Limited Reports It Signed A Licensing Agreement with Sae for the Use of Sae's Fb3d Seismic Data

88 Energy Limited to Report That Slope Fan Set and Basin Floor Fan Play Fairways on Its Project Icewine Acreage Is Now Complete

Less than half of directors are independent

88 Energy Limited, Annual General Meeting, May 16, 2022

88 Energy Limited Provides Update on Operations At Project Longhorn Conventional Oil and Gas Production Assets

88 Energy Limited Provides Update on Project Icewine Acreage

88 Energy Limited Announces Wireline Logging Results and Forward Program At Merlin-2

88 Energy Limited Reports Arctic Fox Rig Commenced Drilling the Merlin-2 Appraisal Well

88 Energy Limited Announces Project Icewine Update

88 Energy Limited Announces Merlin-2 Pre-Spud Operations on Track

Forecast to breakeven in 2022

88 Energy Limited announced that it expects to receive AUD 32 million in funding

88 Energy Limited Approves Merlin-2 Permit to Drill

88 Energy Limited Provides Update on Merlin-2 Operations

88 Energy Limited Selects Merlin-2 Well Location

Non-Executive Chairman Michael Evans has left the company

88 Energy Limited (ASX:88E) completed the acquisition of remaining 50% stake in Project Peregrine in Alaska from Alaska Peregrine Development Company, LLC.

88 Energy Limited Announces Merlin-1 Testing Program Update

88 Energy Limited (ASX:88E) agreed to acquire a 50% stake in Project Peregrine in Alaska from Alaska Peregrine Development Company, LLC.

88 Energy Limited Provides Update on Its Operations on the North Slope of Alaska

88 Energy Limited Provides Update of Operations on the North Slope of Alaska

88 Energy Limited Provides Updates Related to Its Operations in the Npr-A Region of the North Slope of Alaska

Revenue beats expectations

88 Energy Limited Provides Update Related to Its Operations in the NPR-A Region of the North Slope of Alaska

88 Energy Limited Announces Project Peregrine Prospective Resources Report

88 Energy Limited Announces Operations Update

88 Energy Limited Announces Board Changes

88 Energy Limited Announces Managing Director Changes

88 Energy Limited Provides Update on Its Operations in the NPR-A Region of the North Slope of Alaska

88 Energy Limited Provides Update Related to its Operations on the North Slope of Alaska

88 Energy Limited Provides Update on Related to Its Projects on the North Slope of Alaska

88 Energy Limited Provides the Update Related to Its Projects on the North Slope of Alaska

88 Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 10.07 million.

88 Energy Limited Announces Update Related to its Project Icewine on the North Slope of Alaska

88 Energy Limited Provides the Update Related to the Farm-Out At Its Project Peregrine

88 Energy Limited (ASX:88E) acquired additional 45% stake in Charlie-1 well in Alaska.

88 Energy Limited Announces Seismic Attribute Analysis Increases Confidence at Peregrine

CEO Compensation Analysis