Tapping into the Permian Basin’s 20 billion barrels of proven oil reserves…
Over the past two years, the Permian Basin has been of prime focus in the oil and gas (O&G) industry. It is the second largest shale oil deposit in the world after Saudi Arabia’s Al Ghawar field and the largest in the United States, cumulatively producing over 30 billion barrels of oil and 75 trillion cu ft. of gas.
In November 2016, a U.S geological survey indicated resources in the Permian Basin could exceed 20 billion barrels of oil. Meanwhile, over $28 billion was injected into the Permian Basin in 2016 (three times that in 2015). Also, Chevron said its exploration budget for the Permian Basin in 2018 would be around $4 billion .
Alongside our partners at Gulf Energy Corporation Limited, we have access to some of the most reliable oil drilling companies and oil drilling projects in the Permian Basin. These opportunities allow us to acquire significant working interest in oil producing fields in the Permian Basin, to establish Joint Ventures with established Permian Basin exploration and production companies, and secure publicly traded shares in oil companies with assets in the Permian Basin yielding attractive returns and continuous dividends.
Such access to such exclusive opportunities serves our purpose by allowing our token sales proceeds to go into investing in the Permian Basin while implementing our PermianChain technology to be used by the companies we invest in. This will justify our proof of concept and allow for greater usability of the PermianChain blockchain technology by oil companies, starting with the Permian Basin. Our PMN Token Sale is a crowdfunding mechanism that is intended to be an alternative to “direct equity investment” providing token holders, and contributors with above-average returns and huge upside potential.