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The Fast Track...
All financiers start at the Trainee
position. But during
the early stages of the seminar, they can receive an immediate promotion
by forming the first
partnerships with other financiers.
For each partnership during the fast track, all financiers move up
one step on the corporate ladder. There is no need for the well to be
successful to receive the promotion, and a major partner receives the
same promotion as a minor partner. Shallow wells count the same as
intermediate and deep wells for this promotion.
Subsequent and conditional wells in
the same agreement do not count to receive this promotion.
To reach the CEO position early, you must be one of the first five
financiers to be a partner in four deals.
The objective is to have five financiers in each of the five corporate
positions: CEO, VP, Manager, Specialist, & Trainee. When the higher
positions are full, a financier can no longer receive the promotion by
the fast track. There may be a brief time when more than five
financiers
are in a higher position; the administrator will make the appropriate
changes, based on share price, to correct the balance
at the next
25-day evaluation.
There really is no way to make an easy set of rules that will work for
all possibilities of financiers clawing their way to the top during the
fast track. So during this time, the administrator may be making
rulings that may seem unfair. Note: You cannot appeal the
administrator’s ruling.
After reaching five financiers per position, the
normal rules as to who
gets promoted and demoted will apply.
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The CEO's Salary .
. .
. . . really helps your cash flow in the early part
of the seminar. Seriously consider getting the
fast track
positions quickly. And you might even get lucky with
your wildcat wells to help your cash flow a bit more.
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Joint
Ventures & the Fast Track
Oil well drilling deals made with a joint venture give all joint
venture partners a fast track promotion similar to a regular
partnership.
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Fast Tracking the
Drilling Contractor
The first drilling contractor will be in demand to
get wells drilled. For each deal the contractor is part
of―even if he is not an investor or
shares in the revenues―qualifies as a fast track
promotion.
So buying the first drilling rig
almost guarantees a CEO's job―and a salary of $5,000
per OF Day.
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