Joint Venture Model

In the Joint Venture model the Company works with current oilfield owners and operators who have oilfields large enough to be considered a Target Oilfield for an Enhanced Oil Recovery project. Each field is assessed by third party CO2 consultant to determine if it is a good candidate for a CO2 flood, quantifying the potential oil recovery, the estimated time to recover that potential volume, and calculating the CO2 requirements. The information provided at this point is normally sufficient to make a decision to move forward or not. Additional analysis, computer simulation models etc. are created in connection with the project development.

With a decision to move forward the Company would then enter into a documented arrangement to form a Joint Venture company to develop the opportunity, with ONSITE taking the lead role to secure a suitable capital partner for the project, if needed. The oilfield operator has the option to provide all or part of the capital needed for the project, with the capital partner providing the remainder.