In complex transactions for purchases of goods, for example, buyers issue purchase orders, shippers issue packing lists, sellers submit invoices, and banks release funds, all of which are wrapped up in agreements, contract terms, and numbering schemes that enforce tracking, delivery, and payment. The use of a blockchain for these activities would dramatically accelerate the process by cutting out the intermediaries that currently are needed to validate documents and release products and funds. It would create a clear audit trail of timestamped documentation blocks that could be accessible to taxation and other authorities in real time, increasing transparency, and reducing the administrative burden on the parties involved. Mitigated risk of fraud and disputes Companies incur significant overheads assuring trust with counterparties and reducing the costs of eventual misunderstandings, disputes, and fraud. This includes writing and tracking all the contracts, compliance, reporting and monitoring, internally and in respect of service providers, along with all the associated paperwork. If the paperwork and the identity of participants, locations, asset type, and value were referenced and added to the blockchain, any dispute that arise could be dealt with by participants simply referencing this single ledger, rather than having to reconcile disparate databases and contracts. Leading use cases of blockchain and potential applications for oil and gas companies The oil and gas industry presents a particularly compelling opportunity to leverage blockchain technologies due to the high transactional values (and therefore risks) and economic pressures to reduce costs. A secure system that mitigates risk , increases transparency, provides an audit trail, and speeds up transactions at a significantly reduced cost may be appealing to oil and gas companies. Taking some of the main applications of blockchain, we will now explore how these could be applied to the oil and gas sector.

PermianChain tokenizes Oil to support Permian Token (XPR) related assets and operations. PermianChain will be used by upstream companies to fund their oil campaigns and by midstream companies to secure proven reserves via blockchain. XPR enables digital transfer of underlying assets value in the form of digitized value of oil. Thus, allowing the utilization of XPR's substantial physical & proven reserves as a means to facilitate commercial and consumer transactions around the world. As a reserve-based digital currency, XPR will become a critical instrument for preservation of wealth and an ever-expanding range of commercial and consumer activities using blockchain for digitized store of value. We now have a chance to breakout from the traditional way we have done things in the oilfield and redesign the model for the future. This is a direct equity offering and may only be provided to Professional Clients as defined in Section 2.4 of of the ADGM Conduct of Business (COBS) Module.