It doesn't matter if they were first a tanning salon, lots of start up companies change their market/operations until they find a niche they want to fill, it's the background of the people that are running it that is important. At one point in time tanning salons were a popular money making fad, but it was a fad that people grew out of. Raley the CEO spent most of his life in the Energy sector.
The advisory board is outside of the company, they are contracted for their work, same goes for drilling, there are companies out there that do just that. The business plans call for the company to start as more of an engineering/exploration company to owner operators and drilling operations, but are building slowly from the bottom. At this point they are still exploration/engineering, low overhead employee wise. They do not operate the wells but partner with other companies for the engineering, contracting, and drilling to production, then collect a percentage of the revenue from the wells. This way they share the costs and collect money once a well is up and running.
They have a lease in Alberta Canada that they own 95% working interest in that planning, drilling and production has not yet started at, and probably won't until they know they have enough revenue from the other wells to pay for all the costs including operations and maintenance of the wells, that will require more employees, unless they partner with someone on that lease also, but then it's less of a revenue stream for the company, but is located in a high producing area. The property sits between quite a few high volume producing Gas/Oil wells, and the lease allows up to 3 wells to be drilled there.
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