--> Abstract: Generating and Selling/Promoting Deals, by T. Fails; #90937 (1998)

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Abstract: Generating and Selling/Promoting Deals

FAILS, THOMAS, Independent Petroleum Geologist, Denver, CO

Summary

Generating and selling deals combines art and science. Although perhaps intimidating for major and large independent company geologists, many competent experienced, self-confident geologists and small independent exploration companies continue to thrive in the independent world, where most promoted deals are generated and sold. Generation of prospects is rarely difficult for experienced geologists. Problems start in trying to assemble prospects before marketing; many require expensive solutions before a deal can be marketed. Once assembled, the deal must be structured and priced with care, an important but often mishandled process. The generator must assure that sufficient return in cash and participation remains available. Marketing can be easy, difficult or disastrous. Beyond prospect quality,major considerations are the state of the market, the seller's reputation for competence and integrity, the seller's network of independent geologist contacts, persistence, sweat and luck. Despite occasional frustrations, problems and mishaps, the generation and selling of promoted deals plays a major role for many geologists in a satisfying, exciting and sometimes remunerative career.

AAPG Search and Discovery Article #90937©1998 AAPG Annual Convention and Exhibition, Salt Lake City, Utah