The Junior Oil Company Olympics

The Winter Olympics came to a close in Vancouver this week. I don’t know about you, but I was absolutely gripped to the television for the past month, marvelling at the competitors’ finely honed skills, their sheer determination and their nerves of steel. I wondered what it took to be an Olympian and what drove these individuals to earn their place at the start line and compete for their country at a world-class level.

New to the Winter Olympics this year, the ski cross had to be one of my favourite races. The speed at which the skiers raced down that terrifyingly steep icy slope within inches of the other competitors was hard to believe, yet exhilarating to watch from the confines of my front room.

Those competitors bold enough to attempt to overtake the person who was inches in front of them were sometimes the ones to disappear in a "total wipeout," ending up in a soul destroying crumpled heap at the side of the piste. Yet they still took that risk in a bid to get their hands on the great reward at the finish line. But for those competitors who took that risk and gained a placing in the race, the risky overtake brought a huge reward.

Whilst developing the Financing Growing and Sustaining Independent Oil and Gas Summit, I have been speaking to small companies who appear to have this same fighting spirit seen in Olympic competitors. Just a few of the core attributes for an Olympian that are crucial for Juniors to grow their companies into a lean, mean, Competitive machine include Agility, Determination, Adaptability, Speed, Support and Competitive spirit.

All of the above are fundamental to the successful survival and growth of a Junior Oil Company. And as we can see from the Olympic winners, it doesn’t matter about the country you originate from, the number of people in your team or what’s happened in the past (sometimes the "underdogs" take the prize when you’re least expecting it.). Whilst financing is fundamental to success, financing will not be solely responsible for taking you to the top: It’s the combination of strategy, skills and determination behind your company that will truly make it an Olympian.

By Lucy Brennan

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