Pilot Energy has appointed Brian Siddell as its new Chief Executive Officer, effective immediately. He replaces Brad Lingo, who held the position since April 2024.

Project Focus and Executive Remuneration

The company's primary strategic objective is the development of Australia's first offshore carbon storage project. This involves converting the Cliff Head oilfield and its associated infrastructure from production to carbon dioxide storage, as part of the broader Mid West Clean Energy Project. Siddell's appointment is directly linked to advancing this initiative. His compensation includes an annual base salary of A$300,000, plus potential short-term incentives of up to A$200,000 per year, contingent on company performance and achievement of agreed objectives.

Leadership Transition and Asset Portfolio

Brad Lingo will assist Siddell during a transition period as the new CEO assumes full executive management responsibilities. The company acknowledged Lingo's service and contributions to developing its opportunities. Pilot Energy's key assets include a 21.25% interest in the Cliff Head field, which is set to increase to 100% upon completion of acquiring Triangle Energy's share. The company also holds a 100% working interest in all exploration tenements within the Offshore Perth Basin, specifically greenhouse gas assessment permit G-12-AP and petroleum exploration licence WA-481-P.

Strategic Rationale for the Appointment

The appointment of Brian Siddell is viewed as a crucial step for Pilot Energy. The company's chairman emphasized that Siddell brings over 30 years of industry experience from senior roles at major firms like Santos, Beach Energy, and Origin Energy. His expertise spans strategy, project development, execution, and asset management. This operational and commercial background is deemed essential to advance the company's strategic objectives, execute projects with discipline, and strengthen relationships with partners and investors.