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Testimonial...
My greatest experience from
OilFinancier was that making deals on paper was much easier than
making deals in reality. To find partners and get plays
developed, I often had to sacrifice some of my profit to
finalize the deal. OilFinancier definitely shows the difference
between economic theory and what really happens in negotiation.
Anton Baluev, Petroleum Engineer, Harvest Natural Resources, www.harvestnr.com
I came across Oil Financier (OF) via a poster in the Petroleum Computer Lab at University of Alberta. I read about OF on the website and decided it would probably be fun but I was a little skeptical about how educational OF would be. Nevertheless I set to work building a spreadsheet to handle OF using the knowledge gained in my engineering economics class (UofA Engg 310). Throughout OF I did learn a lot about negotiation, the best way to entice various other financiers into contracts and I used my spreadsheet to evaluate whether a deal was worth making or how to choose between two potential deals when cash flow was restricted. At the end of the seminar I was still skeptical how beneficial OF would be in a truly educational sense versus the every experience teaches you something kind of way. It was not until the second half of my oil and gas property evaluation course (UofA PetE 484) that I realized how valuable OF was. The concepts weren’t hard and I don’t think any of my classmates struggled with them but undoubtedly I had a keener sense of how to handle the problems. It seemed very natural to decide between two projects and the various tactics that could be used. While many companies have software to handle these decisions in industry it never hurts to be acutely aware of how to tackle the problems on the back of a napkin. OF can certainly be an enjoyable experience, but it is important to note that you get out what you put in. Further, OF in its own small way will help prepare young professionals for Calgary’s ivory towers. Scott Penny, Petroleum Engineering Student, University of Alberta
"OilFinancier is a well thought out e-Learning experience that helps future oil financiers learn and/or hone skills essential to deal making and company building. The seminar was a great arena to test finance and negotiation skills, patience and strategic thinking against other participants in a bid to have the highest share price. Thanks to the seminar administrator for providing interesting "read between the lines " and sometimes direct commentary! I recommend OilFinancier as a unique and fun opportunity to learn how to build a successful oil company using money that you can’t take home anyway!" Gord McLellan, Natural Gas Marketing, Husky Energy Inc.
OilFinancier provides a simulated environment to practice the financial, strategy, and deal-making skills that can not be found in the classroom. The interaction with other financiers is great, and the competition makes it a fun way to learn. Brice Perresini, Business Student, University of Lethbridge
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