Oil and gas operators have the unique opportunity to be part of the creation of new technology that is going to change the industry.Permian Token (XPR) Democratizes direct oil investments by eliminating the high entry fees and layers of bureaucracy that historically been a barrier to entry.
According to the Central Intelligence Agencys website, there are 1.665 trillion barrels of oil recoverable globally. On the other hand, a report by BP suggested that we have 53 years of proven oil supply left. Just 53 years!With the Permian Token we developed a solution to solve the working capital requirements of oil exploration & production companies and oil exploration and production economies, meanwhile democratizing the direct investment sector for the average investor.With the Permian Token we developed a solution to solve the working capital requirements of oil exploration & production companies and oil exploration and production economies, meanwhile democratizing the direct investment sector for the average investor.
The result, allowing seamless and transparent reporting of our worlds energy reserves and oil transactions under an immutable trust protocol (the blockchain). The PermianChain also solved theoretical and technological issues of oil exploration & production by allowing public and private sector to sell proven reserves yet to be produced via blockchain technology under a closed-loop-B2B-Exchange (the PermianChain). The PERMIAN Token Offering will launch 10 billion XPR tokens. It is our intention that at least 8.0 billion XPR will be sold during the Initial Token Offering (ITO) stages at $0.10 per token. Where we anticipate that 87.5% of the funds raised will go into oil campaigns and acreage with proven reserves. Whereas over 6% will be used to invest in continuous technology including blockchain and artificial intelligence for oil & gas exploration and production. Therefore, the total value of circulating XPR will eventually equal to the total value of Proven Reserves that are listed on the PermianChain.The XPR token offering will issue up to 8,000,000,000 ERC-20 tokens for investor contributions. Meanwhile, we will keep 1,000,000,000 tokens for treasury reserves to fund the communitys energy initiatives, mainly for geologists and oil & gas experts who have solid data and studies to work on.
The XPR tokens will be backed by Proven Reserves that are identified by the oil campaigns that the XPR will invest in from the funds raised during the Initial Token Offering (referred to as Oil Campaigns) and by the oil exploration and production companies that list their own Oil Campaigns and Proven Reserves on the PermianChain platform (referred to as Platform Prospects). PermianChain tokenizes Proven Reserves to support Permian Token (XPR) related assets and operations. XPR enables digital transfer of underlying assets value in the form of digitized value of oil under standard conditions. Thus, allowing the utilization of XPR's substantial physical and Proven Reserves as a means to facilitate commercial and consumer transactions around the world. As a reserve digital currency, we expect XPR will become a critical instrument for preservation of wealth and an ever expanding range of commercial and consumer activities using blockchain technology for digitized store of value.