88 Energy Share News (88E)

(Sharecast News) - 88 Energy announced Friday that Philip Byrne has retired as non-executive chairman and from the company's board, with Joanne Williams appointed as his successor effective immediately.

Byrne, who joined the board in August 2021, brought more than four decades of international petroleum industry experience and was credited with providing steady leadership during the company's leadership transition in 2021.

Williams, also appointed to the board in August 2021, is a petroleum engineer with over 25 years' experience in senior executive and board roles across ASX-listed and international energy companies.

She is currently chief operating officer and a director of Jadestone Energy and a director of Buru Energy.

"On behalf of the board, I would like to thank Phil for his leadership and support during his tenure as chair of our company," said Williams, commenting on her appointment.

"It has been an absolute pleasure to work alongside him.

"I continue to be very excited by the opportunities ahead for our company and look forward to continuing to support our efforts to deliver on our strategic priorities."

She added that the company's focus remained on its Alaskan oil assets, including Project Phoenix, "now a materially de-risked discovery ready for production testing," and Project Leonis, described as "a multi-reservoir, large-scale opportunity."

The board now comprises Williams as non-executive chair, managing director Ashley Gilbert and non-executive director Stephen Staley.

88 Energy said the current structure provided "sound governance and effective oversight" with no further changes planned.

At 1335 BST, shares in 88 Energy were down 1.05% at 1.16p.

Reporting by Josh White for Sharecast.com.