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CASE STUDY: A successful corporate transformation for
Tiverton Petroleum


Tiverton Petroleum logo

Summary:
Tiverton Petroleum Ltd. is a junior public oil and gas exploration company operating largely in Southeastern Alberta. From 2000 to 2003, Richard Monette consulted with Tiverton with the primary intent to increase Tiverton production and value to shareholders.

Clear Intention:
Through a process of strategic planning, corporate coaching and performance facilitation, Tiverton identified their primary intention as INCREASED MOMENTUM -- to increase production and value faster.

This CLEARER INTENTION required that every part of the Tiverton process be revised to deliver a quicker progression from idea (where they thought they could find oil and gas) to capital expenditures (drilling the well) to cash flow (revenue from the oil and gas production)

The Major Shift:
Tiverton soon realized that the way they had done business for twenty years would not deliver their INTENTION of INCREASED MOMENTUM. In a period of 6 months they completely re-engineered the entire company. Tiverton abandoned the model in which they came up with fairly expensive drilling locations that would be drilled by another company who could afford the cost. They sold the locations they could not afford to drill and focused on smaller drilling locations where they could afford to drill. They became a full-cycle production company. By doing so, they took control of the TIMELINE which used to be in their partners' hands.

The Result:
Between 2000 and 2003, Tiverton production and market capitalization increased five and a half times. Tiverton transformed itself from a flatliner producer to a fast rising company, much to the delight of its shareholders...