Oilexco’s strategies are simple and straightforward, but effective:

• Drill on proven trends and focus on undeveloped discoveries.

  Many discoveries have been made in the UK North Sea that for different reasons were never developed. We like to drill where others have found oil in the past, and use our expertise to turn these into economically viable projects.

• Use highly advanced 3D reprocessed data.

  Technology is much better now than it was even 10 years ago, so we invest the time and money to understand our properties before we drill them. Our in-house team of exploration experts combined with external consultants have tremendous depth of experience in the North Sea.

• Control our own destiny.

  Oil companies rely heavily on partners and contractors. We reduce our risk in critical areas by taking such steps as:
  • Signing long term contracts with two drilling vessels so that we can drill where we want, when we want without delay.
  • Taking a majority ownership in prospects whenever possible so we determine when and how to proceed.

• Conduct thorough prospect appraisals.

  While drilling wells is costly, we believe it is of tremendous importance in order to develop a thorough understanding of the subsea geology. On our Brenda Field, we drilled 14 appraisal wells. The benefit is that our shareholders and bankers have full confidence that we know the field reservoir and can deliver what we promise.

• Move quickly.

  We have assembled a team of highly experienced and capable people who have proven track records in the industry. Our Senior Management work effectively and nimbly to make things happen in months where it would take most companies years.