Remember Its Cut and Run

It’s coming up to almost one year since the pressure on oil prices began. Natural gas prices look to me like an absolute disaster will be detonated some time this summer. This due to the storage facilities filling to capacity. The bureaucrats were therefore artful in getting through another annual report season. The time to cut your losses from the oil and gas industry is now. Those individuals at Cenovus last week were the first, but maybe they were the smartest of all of the bureaucrats. Remember, it’s cut and run. Metaphorically get out of town before the problems are so big that they come looking for scalps. In an industry that has been flushing trillions of dollars down the toilet. Using first the investors money and then when that dried up, shifting to junk bonds to fuel their deception. There will be hell to pay for those standing around looking conspicuous. Remember I place the focus of the cause of this issue on the SEC and the accounting firms for their accounting policies that don't recognize the cost of capital or overhead in the operations of oil and gas producers. The fact that the bureaucracy new better is a moot point, after all what did you expect, they're bureaucrats!

What to do, who to turn to? As I have mentioned here on several occasions I have been at this for over 24 years now. And I will be at this for another 24 years. I have the solution in the Preliminary Specification. And I will develop the software derived from the Preliminary Specification and lead the user community in its development and its creation of the sub-industry of service providers. The bureaucrats want and need to capitulate, I want the job. Fund my budget and let me get the job done. What do you have to lose. Well actually a lot. Trillions of dollars in fact. Keeping these self interested bureaucrats in power any longer is counter to the best interests of everyone. The sooner we can have the Preliminary Specification, the user community and service providers established the better. And all that is required at this point is for our budget to be funded.

I foresee a lot of pain to be experienced in the oil and gas sector. Approximately equivalent to what the banking sector saw in 2008. This is a disaster. The opportunity is therefore to fund us and let us get on with our job. And then wait until the fire sale of oil and gas properties begins. Big properties, little properties, producing properties, non-producing properties, profitable and unprofitable properties. Then when we have the Preliminary Specification, the user community and service providers operational you can have those acquired properties operated for you on the basis that we guarantee you the most profitable means of oil and gas operations. And that is how this transition to the new oil and gas environment will occur.

If you think otherwise. That an organization methodology conceived of in the 1920’s, built on technologies available in the 1980’s and with a bureaucracy that has ossified since the 1990’s. That an organization of that pedigree in this market has a chance. Then your choice is made up and I can do nothing to convince you otherwise. I found this quote about the times that we find ourselves in today. Its from Tom Goodwin of Havas Media.

Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. And Airbnb, the world’s largest accommodation provider, owns no real estate. Something interesting is happening.

But maybe, just maybe oil and gas is immune to these types of forces. And the bureaucracy will succeed in fooling some new source of unknown capital. Beyond the junk bond market that is. That will line up to invest in a business that can’t stop overproducing or recognize any of its costs. And we can all just sing kumbaya and drink penakolada’s. If so, then you can count me out.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

It's a Confidence Game

Last week we briefly discussed the levels of intervention by governments in the banking business. There are estimates that over $22 trillion in support has been used in various quantitative easing programs and other forms of fed policy interventions. You would think that after almost seven years the problems that caused the great recession in 2008 would have passed by now. Why is there a continued high level of government involvement in the financial industry? I think that the confidence of the average person in the financial marketplace was shaken to the point where there was question to the viability of that marketplace. Were my investments safe? I can recall many people liquidating their portfolios and not trusting the integrity of the system itself. Restoring the confidence of the people in the viability of the system is the effect that the fed governor and their European and Japanese counterparts are trying to achieve.

We also hop in the car for a cross country trip every once in a while. Expect to fly to wherever as soon as possible. And see the seasons change with little thought to how we’ll keep warm and dry during the winter. We are confident people. And it is this confidence that provides us with the ability to experience high levels of Gross Domestic Product on an individual basis. Our quality of life is very good. And unlike in the banking industry nothing could happen to shake that confidence and put in jeopardy our way of life. Maybe it's in our nature to realize the downfall of our ways and means before we begin to appreciate them. That to solve problems proactively is unnecessary and subject to the whims of the ridiculous. I could certainly agree with that.

If it takes at least seven years and $22 trillion to fix the confidence in the banking system. And it doesn't seem that we are that close to declaring victory there. How long would it take if people lost confidence in the ability to rely on the oil and gas industry if those capabilities were suddenly removed and put into question. Would people be able to just carry on? Reduce their demands and proceed as they were? In California in the 1970’s we saw the successful implementation of gas rationing throughout that state. In a novel implementation, those with even numbered license plates were allowed gas on alternate days to those with odd numbered license plates. And except for the lines that were very long at the gas pumps, and the fact that those pumps were emptied relatively quickly each day, the rationing was a screaming success!

We should give a thought to our friends the bureaucrats in this scenario as well. What will the likelihood of abundant marine fuel be at the cabin? We saw last Wednesday half of Cenovus’ leadership team announced their retirement. Now I ask you, who would have thought that that might happen? Wholesale losses of the leadership team! Bureaucrats don't abandon ship when the going gets tough! I think we should expect to see the rush to the doors begin in earnest now. Who really wants to stick around and clean this mess up? If you note in the Cenovus press release there really are no replacements. No one to replace the Executive VP and COO of the firm. A coveted prize of the energy bureaucrat.

And those bureaucrats that are not ready to retire will be seeking their fortunes in other industries. You really can't quantify the level of inertia that is needed to overcome the bureaucracy in these producers and make the necessary changes. It saps the energy out of even the most ambitious. And that is why we need to start with a blank slate. Something like the Preliminary Specification where people can begin building the future of the industry so that we can confidently move forward in society.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

I Know, It's Ridiculous!

We have now entered the phase in which the bureaucracy have become untouchable. Annual report and annual general meeting season are over. Accountability is no more. As I mentioned the other day, thoughts move to the cabin and the pension benefits that will be earned over the next nine months of relative stress free living. Has anyone noticed that the level of discussion in the industry regarding the situation that it's in is non-existent! And isn't it odd that the “strength” in oil and gas prices seems to have abated. What to do? I guess one could join the crowded highways and enjoy the summer months with the bureaucrats. Or, depending on your point of view. That is if you agree with the points that I have made here before. And you are an investor in oil and gas, or are a potential user community participant there is much that we can do while the brain trust parties the summer away.

It is ridiculous to expect that our budget will be funded. Just as it is ridiculous to think that the bureaucrats will change and fix the problems in the industry. And just as ridiculous to think that the ridiculous tens of trillions of dollars of our value proposition will come about without the Preliminary Specification. And so here we sit and wait for that one unhappy individual that realizes that as ridiculous as all this is. Someone has to pull the trigger and fund these developments before it's too late. Too late being the bureaucracy find the pension benefits too healthy and the cabin too comfortable to bother with accounting for their actions three months of the year and retire. Then there will be no one and nothing in which to operate the industry. But that is a ridiculous assertion.

All of this doesn't seem too ridiculous to me. There are a large number of people who read these words each and every day. Some may be doing it for entertainment, others may agree with the ridiculous nature of the problem. In most cases they may be living with the difficulties in the oil and gas producers and know that there is a better way and see how the Preliminary Specification can help to solve those issues. They also know that their careers are not going anywhere with the status quo and are stuck in an unchanging environment that is unhealthy for all concerned. It is these people that the Preliminary Specification appeals to. And it is these people that I see as the potential market for the user community participant.

The banking crisis that we experienced in 2008 was evident to everyone, everywhere for many years. Watching house prices rise to levels that no sane person would want to participate in. Having mortgages for those houses being issued to people without full time work, or liar loans as they were called, and then having those mortgages “securitized” and sold to “willing” investors was a bad business model. Then they took it the level of creating synthetic derivatives of mortgages. And thats when people really began to make money. Anyway we all know the history and the fact that the banks are still not able to stand on their own without massive, unprecedented fed stimulus. Which has become about as normal as the summertime commute to the cabin.

The business model of the oil and gas producer is no longer functioning to provide any value to anyone. Except the bureaucrats. They need to keep full production to ensure that they can cover their salary, benefits, pensions and perks. Outside of that who cares what happens to the industry. The problem is that there is no fed to flood the market with deliverability if the oil and gas industry fails in the manner that the banks did in 2008. There is no “adult” supervision. There is only the energy that we depend on for everything that we are. But then again, in a very big way, that too is ridiculous.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

Our Solution Part XX

We have quickly gone through some of the highlights of the Preliminary Specification in this series called “Our Solution.” All of these blog posts can be aggregated by using the blog label PS-Solution. There are many other attributes of the Preliminary Specification. This list may best represent the attributes that I find are the most valuable to the oil and gas industry. The purpose in preparing this summary is to provide you with a better understanding of the Preliminary Specification and to encourage you to read the entire specification. I know it is rather long and people don't generally have an interest in the areas outside of their domain of knowledge. It is however somewhat necessary to get an understanding of the total specification to help you better understand how your domain fits within the bigger picture. At 175,000 words in the Preliminary Specification I know I am asking a lot however it will provide for a better user in the long run.

It may seem that we are several million light years away from becoming the manner in which the oil and gas industry operates. Now with annual report and annual general meeting season over. The ability to hold the bureaucrats accountable for their actions has once again ceased to be possible. Their window of opportunity to enjoy the cabin and count the value of their pensions provides a never ending level of satisfaction. This however does nothing for the profitability of the industry or deal with any of the issues that are certainly pressing. It is a “business as usual” situation in the oil and gas industry today. The looming financial disaster that the bureaucrats have engineered is well within sight of everyone in the industry. And their exit strategy from the industry at that time is well planned.

Therefore from our point of view this should be good news. However, I can't think of a more disastrous situation. The last time the bureaucracy cut and run, it was the government that had to step in to mitigate the situation. I personally think there is enough government involvement in business today, we don’t need more. When the bureaucracy does cut and run the capacities and capabilities of the industry will take a decided step downwards. This is not what we should have to experience. The bureaucracy should responsibly deal with their exit by putting their replacement in place and manage the industry until such time as they are not needed. Then again who said we live in a perfect world.

It is our responsibility therefore to be prepared to take over from the bureaucracy when they do decide to leave. We are working on having our budget provided to us in the January 2017 time frame. Until that time we are working on our key priority of developing the user community. It is the user communities development that is the difficult and time consuming element of our solution. It is also something that we can do without the benefit of our budget in place. I have therefore made it our priority in terms of our activities for the next number of years.

In terms of priority of your time and energy during this time. As a prospective user community participant. The understanding of the Preliminary Specification in its entirety, helps significantly in terms of understanding why some things need to be the way they are. Your understanding of how the user community fits within the industry, its role and significance. Particularly the power they hold in terms of change and enabling the dynamic, innovative and profitable oil and gas producer. Also the user communities participant in terms of their role in the service providers that will be developed to provide the administrative and accounting services to the oil and gas producers. It is this model that is fundamentally different than what exists today. We will be changing the makeup of the industry and it is the user community that is at the heart of the industry. These are significant business opportunities for those that can see their way into the manner in which the industry will operate. Both as a user community participant and as a service provider. It is that these two roles are filled by the key individual who is the user community participant and the principle behind the service provider.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

Our Solution Part XIX

One of the more controversial elements of the Preliminary Specification is the Marketplace Interface. It is here that we are introducing and developing a new interface in which the users in oil and gas will interact, transact, collaborate, agree, and associate themselves with other users, companies, producers, leaseholders, service providers, service industry representatives, banks and governments. The Marketplace Interface is a single interface that is accessible through the Petroleum Lease, Resource and Financial Marketplace modules. The Marketplace Interface will enable you to extend your domain of influence beyond the physical presence that is a current constraint to your working environment. It is an enhancement to the current means of communication through telephones, email, tweets, meetings etc. Avatars of individuals within the Marketplace Interface will enable these interactions in real time from any distance and provide the full power of an ERP system to support the transactions, interactions and collaborations that could occur.

Pretty silly, I know. Until you realize that you can’t get everyone to the meeting until next Wednesday at 3:00. And to do so will cause you to disrupt yours and others schedules significantly. If only there was a way to get everyone together right now so that we can decide on this critical point… Certainly telephones are not going to provide the documentary value and group participation of a meeting. The Marketplace Interface, operating within the three marketplace modules of the Preliminary Specification, combines elements of both meetings and telephones. The ability to have them quickly, documented and with the full participation of the necessary individuals will be the capabilities brought about by this new interface.

Everyone is tired of the extensive number of meetings that they need to attend daily or weekly. If only they could attend some of them virtually, which is what they would be able to do with the Marketplace Interface. Cutting down on the time in meetings, which would allow for, wait for it, more meetings! Which is going to be one of the consequences of implementing the Preliminary Specification in the dynamic, innovative and profitable oil and gas producers. With high levels of automation in the transaction areas being conducted by the service providers. Their use of specialization, the division of labor and automation as their key competitive advantage we have stated here many times before that the types of work that people will be doing is going to change. We will be conducting different tasks that include leadership, issue resolution, creative, collaboration, research, ideas, design, planning, thinking, and generally making the computers work for us. Or in other words, many more meetings.

If we believe that our work will continue to remain the same in terms of how we interact with people then I think we are going to need a lot more people. Either that or new methods of communication are going to be needed. The endless meetings will need to end. Maybe some of the attendees can instead review a video replay of the Marketplace Interface recording at twice the speed. Other methods of communication are going to be needed to be introduced into the way that we work if we are going to do the work of the humans and leave the work that is better suited to the computers, to the computers. Our volumes of work will increase. The types of work will change. And the importance of that work will also increase.

An ERP system that doesn’t introduce a new means in which to deal with these issues and opportunities is not doing its job. It is providing for yesterday’s ERP system needs. Our work is changing and the types of interfaces that we will use also needs to be changing. The Marketplace Interface is one of the opportunities that we will be using in the Preliminary Specification. It is based on the Open Wonderland framework developed by the former Sun Microsystems. Here is a video of the technology.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

Our Solution Part XVIII

In addition to a number of Joint Operating Committees. The dynamic, innovative and profitable oil and gas producer will operate in a number of marketplaces within the oil and gas industry. The Preliminary Specification has three marketplace modules, the Petroleum Lease, Resource and Financial Marketplace modules. It is within these modules that the Preliminary Specification virtually replicates those markets.

Without a P&NG Lease, or a concession there is no title or ownership to the oil and gas that is produced. It is the marketplace of P&NG Leases that the North American oil and gas producer seeks to earn their profits by applying their earth science and engineering capabilities as competitive advantages. P&NG Leases can be bought and sold, traded, swapped, developed into a Joint Venture, pooled as some of the many possibilities within the North American marketplace. The constraints on a producer's creativity, of how they approach the business, is limited by the laws of Canada and the United States, and their earth science and engineering capabilities. The Petroleum Lease Marketplace will reflect the available opportunities that exist in the oil and gas market space. And also provide the means in which to manage those assets consistent with effective and efficient business practices.

To facilitate that creativity and business need the Preliminary Specifications Petroleum Lease Marketplace will need to accurately emulate that physical market space and all of its characteristics. So that the dynamic, innovative and profitable oil and gas producer can address the entire oil and gas market space and seek out their role within the industry. If it is to post some land, or bid. Buy some established production or pool an interest in a promising area. They will have the interfaces within the module to provide for the ability to participate in those markets.

The second marketplace module seeks to replicate what we have called the Resource Marketplace. This consists of the marketplace of human resources, service providers, service industry representatives and producers. The products and services that are made available to the dynamic, innovative and profitable oil and gas producer. Within this module producers will be able to find the interfaces to enable the engagement of the resources to conduct any and all activities within the industry. It is through this module that the producer will interact with the service providers. Which in turn enables the decentralized production model to be implemented as the business model for the industry. And therefore it is here that the flexibility in the producer's production deliverability is enabled. Automation of the processes between producers and others is an underlying assumption regarding the transactions that occur in the module.

Lastly there is the Financial Marketplace module. With the level of activity increasing in the dynamic, innovative and profitable oil and gas producer. The need to have its financial capabilities increase their velocity and throughput are necessary. As well, the alignment of the financial framework of the Joint Operating Committee to the compliance and governance framework is achieved in the Financial Marketplace module. Opening up the producer to new avenues of financing and greater capabilities in terms of their overall financial performance.

I'm really struggling to articulate the abstract definition of what these marketplace modules mean within the Preliminary Specification. These hold a special role in the software and will provide new ways in which the producers participate in these market spaces. As I stated in the beginning of this post; the dynamic, innovative and profitable oil and gas producer has an interest in many Joint Operating Committees and these three marketplaces.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

No Posting Today

In recognition of the U.S. Memorial Day holiday.

No Posting Today

Bureaucrats can look forward to another day's pay and one day's vesting in their pensions. 

Our Solution Part XVII

The conflicted bureaucracy that are operating in the oil and gas industry have a fundamental belief in a theory known as spontaneous order. It is an economic principle that essentially states that markets will create the solution when it is required. Spontaneous order has worked in the economy on many occasions and could be argued that it is the competitive response to a company's offering. I think things have changed. Information Technology in organizations is the metaphorical cement that locks the elements of the organization in a permanent, unchangeable situation. The capacity and capability to change the organization is dependent on the capacity and capability to change the software first and foremost. Without the ability to change the software, none of the elements of the organization are going to change. Spontaneous order is therefore rendered inert in the digital economy.

Which is fine as far as the bureaucrats are concerned. Leaving the status quo organization in place is therefore simple. Don't change any of the software and the bureaucrats can retire fat and happy. This may also be one of the key reasons that there is little growth in the advanced economies. Everyone is dissatisfied with the level of economic growth these days, however, have they asked what a bureaucrat really thinks of this.

The alternative to spontaneous order is the hideous sounding central planning. Which is what had been done in the former communist countries with little success. Even the Chinese successfully abandoned this method of organization. There has to be a middle ground and I think that the Preliminary Specification, our user community and service providers offer that middle ground. First by providing the dynamic, innovative and profitable oil and gas producers with a software development capability. Secondly by establishing the user community vision to enable the needs of the producers, the industry in general, the service industry and all the users with the means in which to change the Preliminary Specification.

An analogy to our current situation in oil and gas would follow along the lines of this. If we had a donut shop that made its own donuts. Where the manager continued to purchase new equipment that was faster and more productive. And he kept all of his machines producing all of the time. The parking lot would be full of stale donuts and there would be no customers. This for all intents and purposes is the oil and gas industry today. No one can impress upon the donut shop manager, or in the oil and gas industries case our friends the bureaucracy, that they are wrong and need to change their ways. It is because the donut shop manager has a vested ownership interest in the donut machine manufacturer, or in the bureaucracies case, their cabin and personal fortune.

Review of the user community vision shows the user community is endowed with the power and capabilities to solve issues and enable opportunities for the dynamic, innovative and profitable oil and gas producer. As a replacement to the current conflicted bureaucracy. In the current industry no one can point to anyone who has the power to deal with the overproduction issue. In our user community the users will be able to see the opportunity, organize the resources to make the changes to the software and the service providers and enable the value to be earned by the oil and gas producers.

Everyone can see the issues in the oil and gas industry. Yet no one can currently do anything about them. The only solution being offered is the Preliminary Specification, our user community and the service providers. At some point the realization that the only solution being offered is probably the right one will be accepted. Particularly when the value proposition of that solution is valued in the tens of trillions of dollars.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here. 

An Operating System for the Industry

Maybe one of the best ways to describe the Preliminary Specification, the user community and service providers is that it is an operating system for the industry. One in which the producer, no matter their size, can manage their interests in any and all oil and gas properties. An operating system that provides the producer with the opportunity to implement whichever strategy they believe to be the most effective. Based on the most advanced earth science and engineering capabilities that are available from the partnership making up the Joint Operating Committee. How this will work is through the interactions, transactions and collaborations between the people and the electronic devices they use. Everyone knows that we can have these types of applications. Those that are readily available for consumers that use these devices. Why are they not available for the oil and gas industry? Its simple, we need to organize ourselves, our data and processes to enable these new types of devices and applications. We need to build the operating system for the industry in order for this vision to take hold.

Certainly everyone can access their files and work from anywhere there is an Internet connection today. We've all been able to do this for years. That is not where we need to go, nor is it what I want to discuss today. What we need to do is to begin to provide the oil and gas producers with the ability and capabilities to conduct their business securely, anytime, anywhere and on any device. A means in which producers would be able to work together, indirectly, to better manage their interests. Based on information and data that is accurate and reliable. And to have the capability to make the business decisions, at the Joint Operating Committee level, that need to be made.

It is this new way of operation brought about by the Preliminary Specification, the user community and service providers that the producers will be able to attain the most profitable means of oil and gas operations. Today everyone knows what the problem is. Overproduction. Everyone knows the solution. Shut-in the unprofitable properties. Yet none of the producers are able to do so due to the inability to know which properties are a financial drain, and they can not be the first in the marketplace to voluntarily reduce their production profile. If, with the Preliminary Specification, all the producers know that their production is profitable. And any that isn’t profitable has been shut-in. Then they know their profits will be the highest they can attain as a result. They will also know that all producers will operate in the same fashion as that is the most profitable means of oil and gas operations. There is no collusion over prices. There is only the self interest of the producers at the Joint Operating Committee making the decision to produce or not in their own best interests.

Making clear business decisions based on accurate and reliable information and data is not the method in which the oil and gas industry operates today! Overhead and capital are ignored as costs so they don't have to account for them. Bureaucrats let these costs accumulate on the balance sheet for eternity. That way they can justify producing everything they own no matter how much it might really cost. Its the modern version of the shell game.

With the Preliminary Specification our user community and service providers in place the industry would operate in a more rational manner. We use the Joint Operating Committee as the key organizational construct of the dynamic, innovative and profitable oil and gas producer. In doing so we align the compliance and governance frameworks of the hierarchy with the legal, financial, operational decision making, cultural, communication, strategic and innovation frameworks of the Joint Operating Committee. This alignment is the beginning of the Preliminary Specification. From there we are able to take the issues and opportunities of the industry and deal with them effectively. And not just in the administrative and accounting domains, but also in the operational domain.

Time will tell if the commodity prices are in the early stages of a recovery. I’m on the record stating this is not the case as the bureaucrats can’t change their means of operations. They will continue to overproduce. I am also on record as stating that the current accounting is bogus. That the ability and capability of these allegedly profitable producers to fund their negative margins and unprofitable operations is limited. Particularly in an environment where the investors are not investing, and now the bond holders are not investing. The only real place for a producer to get their hands on some cash is to produce! And around we go again. It is the definition of insanity.

The Preliminary Specification and user community provides the oil and gas producer with the most dynamic, innovative, profitable and successful 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. And don't forget to join our network on Twitter @piobiz anyone can contact me at 403-200-2302 or email here.