Small Pools Exploration & Production

Small Pools in the North Sea - We are Transforming the Seascape

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  SUSTAINABILITY CHALLENGE

 

PetroStars SPX Ltd - has been awarded split block 16/3e shared with Equinor &  their partner BP.

We are actively seeking partnerships with proactive license holders and new ventures who are willing to explore opportunities  in the Small Pools of the North Sea. Rapid Portfolio growth can be achieved with commitment. Alliances with new technology companies who are needing a deployer of their solution to the future problems that we do not know yet . Our mandate is to bid in the UK Licensing Rounds to acquire significant NPV using our unique safe, reliable & sustainable  screening process. Our core business is to unlock the full potential of resources efficiently with new and environmentally safe technology.  We will invest in sustainable energy markets and regenerate local economies.  Sustainability not just a tick box exercise, but a commitment for the longer term. 

Our plans for exploration & production are based on identifying under-explored blocks with little or old data, coupled with seeking legacy blocks and newly relinquished sectors. Prospects near infrastructure are also key where new technology may allow early cessation of production and unlock  adjacent options normally discounted due to complex and outmoded infrastructure.  Noting Dry Hole is not the end - our questions are then - is the reservoir suitable for Gas, C02, Hydrogen or Bio Gas Storage?

"Maximising Economic Recovery will only be a Success when all Small Pools in the UK North Sea are Producing to reduce the Energy Costs of the Public Sector to Zero"  

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To underpin transformation,  deployment of new technology in a consistent  framework will unlock far more resources quickly than ever before.  Our plan is to unlock $1bn plus of un-risked reserves and deliver known discoveries that others have given up in the Quad 16 area. We are also opening our path to acquiring mature assets to decommission and deploy new Subsea technology for further MER, and Gas Storage. This includes bringing new and old together from slim-hole drilling, DTS, thermal energy recovery, smart cement,  physics, mathematics and sound engineering principles.  New technologies and classical research will be combined to meet our commitments to the Environment, Science & Innovation.  We will be pushing the boundaries of Geological & Reservoir Interpretation to establish the critical safety criteria that is far more valuable than benchmarking on imaginary reserves risks.  Well, Facility & Geomechanical Integrity is a combined field we will work with Underwriters and our teams  to quantify and manage effectively.

This will allow us to enable an efficient energy balance in the UK, freeing up more resources for PetroStar's overarching remit to link fully E&P, Renewables, Engineering and Raw Materials to value for the Public Sector and Society.  Renewables will not be sustainable unless efforts are made to harmonise the supply chain from the Mine, Well, Field to the Commoner.  With the advent of Block Chain and Open Banking technology,  this offers us a unique opportunity to realise the value of the myriad of small pools across the UK North Sea and make a real difference that does more than just comply with tax legislation.  It is our Small Pool's ethic - Energy Costs from all sources in the Public Sector should be funded by the Private Sector.  This will not just remove the burden for the NHS and Education, but enable the stranded small pools of SME's, Innovators and Alternative Energy Sectors to be supported by a Sustainable Economy.  This may appear controversial, but the steel, aluminium, lithium and heavy equipment needed for Wind Turbine Manufacture, Batteries etc,  currently depend on efficient use of all energy available.  Thus our contribution is the E&P's version of what pioneering Liberty Steel is doing - increasing use of renewable electricity for steel works. Noting regardless of Fossil Fuels,  Natural & Man Made Bio sources of C02 and Methane are needing to be brought under control too. We will need stores - Small Pools  offer a sustainable solution,  whilst we fund the search for a clean bio & conventional cycle. If companies like ours  team up - the future is unlimited. 

 

Collaboration & Sharing Value  

 

 

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Value Statement

The commercial value of our business is predicated on needing to lead when it comes to sharing the returns rather than old outdated and selfish systems of renumeration.  Our fundamental ethics mean that we will not be swayed on the following principles, due to our Founders being diverse and established in their sectors. 

Commercial Profit will be prioritised on the basis that it will be split fairly and transparently. 

  • Leadership will not be paid more than 3 x the salary of the lowest paid contributor  
  • http://sevenpillarsinstitute.org/the-ethics-of-executive-compensation-a-matter-of-duty/
  • The modern discussion around gender equality in industry is neutralised by a unilateral flat salary policy
  • The company will adopt a mutual status for non-listed assets - all permanent employees will benefit 
  • During market downturn,  lowest paid contributors will be the last to be transitioned. 
  • Transition  - during negative market conditions it is our duty to find our people new roles, employment, places in society.  During M&A, we will not sacrifice acquired employee's better conditions for short term gain. Where normal impasses arise, with agreement with the HMRC and Unions, contributions to employee's mortgages, personal debt and or help with partner's employment status will be on the table. When selling part of the business we will give the option to stay to create new lines of business and or pick up training & education. 
  • The mire of executive bonuses vs shareholders will be bypassed - bonuses will only be available after realising the  philanthropic aims . This will range from improving support for debt reduction charities,  developing affordable housing, community service, helping community start ups to succeed in an incubator and much more. 
  • We will engage with the Living Wage Organisation to keep ourselves in the real world
  • https://www.livingwage.org.uk/

Technology

Our Technology plans are predicated on a basis of deploying new technology.  We cannot expect the industry to magically improve unless we give new equipment, teams, processes and innovation a chance to grow and suststain

Our keystone collaboration with CDC Scotland and it's World Oil award winning technology is key to our future subsea and dry operations in the UK North Sea.  The MOPU, is one of the elements that will enable us to adopt and collaborate with the OGTC and world leading innovative firms to enable our plans to build a solid future for Small Pools. 

Our Field Development focus areas are:

  • Well Integrity 
  • Environmental Baseline Surveys 
  • Long Term Geomechanical & Geotechnical Site monitoring
  • Slimhole Drilling & Completion
  • AI and AR 
  • Interactive Geological Field Work 

Collaboration

To deliver value to the UK, collaboration is often an overused term. Many false dawns have risen during the downturn.  True collaboration is creation of value, not wasting investment on  immoral practices and funding extravagance.  We will not tolerate consultants and contracting agencies that put greed in front of sharing growth.  This in turn will enable us to lead rather than follow.


Simon MaINWARING

We need to develop and disseminate an entirely new paradigm and practice of collaboration that supersedes the traditional silos that have divided governments, philanthropies and private enterprises for decades and replace it with networks of partnerships working together to create a globally prosperous society.