To start we need to clearly identify the three different groups that are supported by the producer firms. These groups include (1) People, Ideas & Objects, (2) the user communities and (3) the Community of Independent Service Providers (CISP). The need for this financial support is as follows.
People, Ideas & Objects assesses an annual rental on all producers / investors for access to the software applications, software development, cloud computing infrastructure and the user communities involved in the development. These funds are assessed based on an annual rental for each barrel of oil equivalent of the producer / investors. This rental has been set at $1.00 per barrel of oil equivalent for the 2010, 2011, 2012 and 2013 calendar years. Producers with 100,000 barrels per day of production would be assessed $100,000.00 for anyone of those years. In addition, assessments are due and payable by March 31, of each year. Producers / investors are subject to a 300% penalty for any late payments. All producers / investors are required to pay the rentals and penalties from 2010 forward.
Funds are distributed from People, Ideas & Objects to the users groups themselves for their participation in the development of the software. These users are the producers employees or consultants that define and design the systems they and the producers / investors want and need. People, Ideas & Objects are user based software developments.
The third group that receives direct funding from the producers / investors is the Community of Independent Service Providers. This community is engaged by the producers / investors to handle many of their specific systems related needs. Accounting systems integration and training are a few of the areas where the CISP will be used most often. These are also part of the larger group of service providers who handle the administrative and accounting functions of the producers. Funds for these groups are outside of the People, Ideas & Objects Revenue Model.
What happens to these funds is also important to note.
People, Ideas & Objects incurs the costs associated with the hosting of the infrastructure for running the application and software development environment. We also have the developers on staff who are working with the Community of Independent Service Providers and user groups to define and enhance the systems they need and want.
The Preliminary Specification provides the oil and gas producer with the most profitable means of oil and gas operations. People, Ideas & Objects Revenue Model specifies the means in which investors can participate in these user defined software developments. Users are welcome to join me here. Together we can begin to meet the future demands for energy.