COMPANY INTRODUCTION www.wellworkinnovation.com Wellwork Innovation - - PowerPoint PPT Presentation

www.wellworkinnovation.com

COMPANY INTRODUCTION

Wellwork Innovation Offices at Kleppe

www.wellworkinnovation.com

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

Team: Management for hire or active board member. Extensive 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 Plans and exit strategy

• Product uniqueness
• IP strategy
• Market potential

Identify and sign up Partners

• Industrial partners
• Financial investors
• First users (JIPs)
• Public grants and

support (Innovasjon Norge and Forskningsrådet) Team Building

• Actively participate in

company management, primarily as Chairman, Board Member, CEO or CFO

• Participate in building

”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 Chairman of the Board Consulting Services, Risk assessment and management Chairman of the Board PCE, ComTrac and downhole Wireline tools Chairman of the Board Seals, packings and machining for O&G industry Development projects

Tuteedee

General Management Development of new directional drilling technology Management for hire projects (incl Board of Directors) Actively contribute to the development of new, unique technology within the O&G sector Examples of EXITED projects 2007 - Co-founder & President Trade sale Kongsberg Maritime Active board member Trade sale Seawell AS Will develop new projects within drilling and well intervention Looking for new projects where our expertise and experience within strategy, finance and technology can be utilized

i-SEA

General Management New proactive ICT system accident prevention within maritime sector

IOR Chemco

General Management Method for reduction of water inflow and sand consolidation

Drillscene

General Management Software for Drilling Optimization

www.wellworkinnovation.com

Stian Vemmestad (37) - Partner

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
• f 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 Business and Economics (Siviløkonom).

MANAGEMENT CONTACT INFORMATION Office: Kjøpmannsbråtet 7 4352 Kleppe Norway

Børge R. Kolstad - Partner

Mr Kolstad has 28 years of O&G experience whereas 20 years are within executive management positions. For the past 9 years, Børge has worked as an entrepreneur within O&G technology projects such as Sense EDM/Sense 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

• f

Business Management.

Stian Vemmestad E-mail: stian@wellworkinnovation.com Cell: +47 92 80 57 87 Børge Richard Kolstad E-mail: borge@wellworkinnovation.com Cell: +47 90 55 88 33

The Team

Solid experience from building and implementing successful business strategies

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 sustainable development. Shona has spent the majority of her career in BP where she has held a variety of roles in the areas of reservoir research, exploration, commercial, major developments and upstream operations. During her career she also worked in BP’s executive office in London. Shona has a BSc and PhD in geology.

Shona Grant E-mail: shona@wellworkinnovation.com Cell: +47 45 50 15 76