Frequently Asked Questions (FAQ's)

Why does SSL believe that the SRE will produce between 5% and 15% increase in value through increased oil production and/or lowered costs?   

Simulation models do not integrate data uncertainty but calculate outcomes based upon a deterministic set of reservoir parameters. The SRE carries out proper data integration using Markov chain Monte Carlo (MCMC) methods automatically providing estimates
of P90, P50 and P10 outcomes consistent with seismic, petrophysical and well test uncertainties and historic field production. Because of this integration, the range between the P90 and P10 levels, the 'zone of consistency', can be reduced significantly.  Because of this the increase in certainty realised by the MCMC approach, the core of the SRE, with respect to Oil In Place and hence oil reserves would realise gains in value if taken over a portfolio of oil field investments. 

 

Why hasn't the SRE approach been tried before?   

The SRE integrates the algorithms of MCMC with those of oil reservoir simulation.
This requires the writing of completely new software code, together with both a mathematical and physical understanding of these algorithms and how to effectively
link them together. While MCMC techniques are used extensively elsewhere, the perception is that reservoir simulation is a "hard" problem.

 

Why will it take 2 to 3 years to create a product similar to the SRE?   

While the concept of the SRE is straightforward, its efficient implementation is the result of many years of code development, experimentation, false trails and dead ends. 
There are very few shortcuts.

 

How will SSL convince customers to take up their services?   

The long established commercial relationships with the Company Directors will overcome the usual early adopter syndrome. In addition, SSL will offer to carry
out an evaluation of hydrocarbon assets to high-value clients. 

 

If SSL partners with other consulting services how will it be able to protect its IP?   

SSL is looking at partnering, franchise and direct employment service models.
In all cases SSL intends to provide the back-end computing service directly, with computing clusters set at appropriate global locations. At all times, SSL will have
direct control over its IP which will not be released outside of these locations, unless under commercial contract to (major) oil companies. In this latter case, only the executable code will be released with the source code and IP retained by SSL.

 

How is SSL's capability unique?   

The unique feature of the SSL system (SRE) is that it is able to quantify uncertainty
in a way that no other service company, or oil and gas company, can achieve at present. More than that, we don't believe another company has a product that could offer such a service at present.