COMPANY INTRODUCTION www.wellworkinnovation.com Wellwork Innovation Offices at Kleppe
Ambition and Business Concept Wellwork Innovation was established June 2009 in order to develop and commercialize new and innovative technology • Our main ambition is to create and realize superior shareholder value Team with solid track record; • Seeking role as management for hire in combination with active board participation and/or co-ownership • Also seeking turn-around cases of SME companies Our main focus is on; • The Oil & Gas sector, where we have an in-depth knowledge • Small and medium sized companies • Technology with an international potential www.wellworkinnovation.com
Our contribution Management for hire or active board member. Extensive Team: network also enables us to contribute in the identification and selection of management and Board members. Idea/Technology: Sparring partner for new technology ideas including assessment, qualification and how to develop technology into unique products and successful businesses. Market: Solid knowledge of the Oil & Gas market including verification of market potential and how to link technology to the end-client requirements. Deal/Agreements: Solid experience within business negotiations, deals and agreements. Exit: Track record for making good Exits and finding the right buyer to the right project and SME. www.wellworkinnovation.com
Our approach Initial steps in our approach to develop early phase companies: (Re)define Business Identify and sign up Plans and exit Team Building Partners strategy • Product uniqueness • Industrial partners • Actively participate in company • IP strategy • Financial investors management, • Market potential • First users (JIPs) primarily as • Public grants and Chairman, Board support (Innovasjon Member, CEO or CFO Norge and • Participate in building Forskningsrådet) ”best in class” team We believe in success through bringing uniqueness to the company, linking it to a large market, signing up the right partners and building the best of teams. www.wellworkinnovation.com
Our current projects Documented ability to create superior shareholder value through successful Exits Growth Projects Actively contribute to the development of new, unique technology within the O&G sector Chairman of the Board Chairman of the Board Chairman of the Board PCE, ComTrac and downhole Seals, packings and machining Consulting Services, Risk Wireline tools for O&G industry assessment and management Development projects Tuteedee i-SEA IOR Chemco Drillscene General Management General Management General Management General Management Development of new directional New proactive ICT system accident Method for reduction of water Software for Drilling drilling technology prevention within maritime sector inflow and sand consolidation Optimization Will develop new projects within drilling and well intervention Management for hire projects Examples of EXITED projects 2007 - (incl Board of Directors) Co-founder & President Active board member Looking for new projects where our expertise and experience Trade sale Kongsberg Maritime Trade sale Seawell AS within strategy, finance and technology can be utilized www.wellworkinnovation.com
The Team Solid experience from building and implementing successful business strategies MANAGEMENT CONTACT INFORMATION Børge R. Kolstad - Partner Mr Kolstad has 28 years of O&G experience whereas 20 years are within Børge Richard Kolstad executive management positions. For the past 9 years, Børge has worked as E-mail: borge@wellworkinnovation.com an entrepreneur within O&G technology projects such as Sense EDM/Sense Cell: +47 90 55 88 33 Intellifield, OTG, Norwegian Seals, Flowsys, Viking Intervention Technology and others. Børge was board member of Peak Well Solutions during share sales to Seawell. Mr. Kolstad was President of Maritime Well Service for 10 years (now part of Aker Solutions). Børge is a Petroleum Engineer and has Postgraduate management modules from BI School of Business Management. Stian Vemmestad E-mail: stian@wellworkinnovation.com Stian Vemmestad (37) - Partner Cell: +47 92 80 57 87 Mr Vemmestad has more than 14 years of experience from leading positions within Finance, IT and Energy from both listed and start-up companies. Stian has previously worked as general manager of a seed fund of NOK 341 mill, specializing in start-up companies within Energy. He has also worked as CFO in Allianse ASA and a smaller oil company, and as General Manager in Allianse provider ASA. Stian has a Masters Degree in Shona Grant Business and Economics (Siviløkonom). E-mail: shona@wellworkinnovation.com Cell: +47 45 50 15 76 Shona Grant (48) – Associate Partner Dr Grant (48) has 23 years of experience with 10 years in management positions ranging from project manager for a major O&G development project, to asset manager for several O&G producing fields on the NOCS to Managing Director for a non-profit business organization focusing on Office: sustainable development. Shona has spent the majority of her career in BP Kjøpmannsbråtet 7 where she has held a variety of roles in the areas of reservoir research, exploration, commercial, major developments and upstream operations. 4352 Kleppe During her career she also worked in BP’s executive office in London. Shona Norway has a BSc and PhD in geology. www.wellworkinnovation.com
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