RISC’s Gavin Ward will be facilitating a Business Development virtual course as part of the new PESGB (Petroleum Exploration Society of Great Britain) Night School Programme.

The course will be split into 4 parts covering petroleum prospect economics, oil field accounting & finance as well a sales & marketing.

Event Details:

Part 1 l Petroleum Prospect Economics
Facilitator: Steve Pickering
Date: Monday 27th July
6:00pm – 8:00pm

Cashflows:
In this session we will seek to understand how we can estimate the value of oil and gas projects and how to compare and rank projects with difference commodities, development schedules, cashflows. During the course we will discuss the impact of oil quality (or gas), taxation and time on value by calculating discounted cashflows (DCF), Net Present Value (NPV), Rate of Return (ROR), Expected Net Present Value (ENPV) and Expected Monetary Value (EMV). Various economic indicators will be discussed including Profit to Investment Ratio (aka Bang for the Buck), Discounted P/I ratio and Economic Limit. Lastly we will investigate hurdle rates and how to evaluate whether or not a project should be given a green light.

Part 2 l Oil Field Accounting & Finance
Facilitator: Gavin Ward
Date: Thursday 30th July
6:00pm – 8:00pm

The differences between Economics and Accounting:
This course covers the fundamentals of oil and gas field Accounting and Finance in a down to earth manner, using plain English. In this session, the facilitator will introduce you to some of the simpler tools used to analyse an oil company, or service company annual report. You will be able to use the annual reports of two companies and examine the Balance Sheet and Profit & Loss statement to compare performance. The session draws on some principles in the PESGB Petroleum Prospect Economics session, like the source of the discount factor used in NPV and introduces the audience to several other methods of valuation used in acquisitions and management reporting. Attendees will find it useful to have a calculator on hand for a few short exercises but care has been taken to keep number crunching and mathematics to a minimum.

Part 3 l Sales and Marketing – Part 1
Facilitator: Tim Gibbons
Date: Monday 10th August
6:00pm – 8:00pm

The basics of sales and marketing:
Product marketing, the basic sales process and the activities involved.  It is designed more for people working in a technical role than for people who are currently working in a sales or marketing role. It will attempt to demystify the dark arts of sales and marketing such that attendees get an appreciation of the role that sales and marketing play in the oil and gas industry.

Part 4 l l Sales and Marketing – Part 2
Facilitator: Tim Gibbons
Date: Monday 17th August
6:00pm – 8:00pm

How to sell anything:
Even if they do not have a formal sales role, geoscientists are frequently required to “sell”.  This may be a farm-in opportunity to another company or an infill well to management or partners etc.  In order to sell, we need to construct a narrative that persuades our audience to accept our proposal. This session will explain the most effective way of doing this and provide a structure for participants to use whatever they are required to sell.

Register

KeyFacts Energy Industry Directory:   PESGB   l   RISC Advisory   l   Hoolock Consulting