Step 01

The Problem

Over 100,000 low-volume oil wells are underutilized or outright abandoned in the US alone.

These oil wells become a major ecological danger with leaks and risk of leaching contaminants into water and the surrounding environment. The problem is so severe, that in just the US and Canada alone, taxpayers will have to spend nearly $500billion cleaning up these wells.

Step 02

The Cause

So Why do these wells get abandoned? Well it's simple economics - these wells are unprofitable to operate as they have old equipment that is inefficient and the cost of repairing or replacing the pumps on these wells unjustifiably high.

Step 03

The Solution

The Solar Oil project takes over these oil wells in partnership with local independent operators. We replace the antiquated pump jacks with new, Solar-powered eco-friendly pumps that are significantly more efficient, automated, and cost effective. This revitalization turns these old abandoned oil wells into productive, profitable locations.

Step 04

The Process

It all begins with you purchasing our utility access token - SOAX - or Solar Oil Access. Token holders can access the Solar Oil Platform, where we display all the anonymized oil well portfolios and properties that we are working on. You can select which properties you want to help revitalize by Staking your SOPX tokens for a 10 year blockchain based Smart Contract.

Within a few days, we deploy new eco-friendly equipment on these wells and begin generating profitable oil. The oil being produced from these properties is represented by our second token - The SOPX - or Solar Oil Production.

Step 05

The Rewards

Helping save the Planet is a reward in and of itself. But we understand that it takes a little more than that.

Each SOPX represents 1 barrel of oil and as the token holder that helped produce this oil through the Staking mechanism, you can sell this token based on the current global WTI price of oil. This means you can start developing a portfolio of oil producing properties over time with the Staking mechanism.

Step 06

The Transparency

The entire process occurs on the blockchain and is enforced via Smart Contracts, allowing you to participate in the most transparent and the most powerful social and economic project undertaken yet!

The Solar Oil Project is a massive undertaking. With hundreds of thousands of these oil wells in existence and the ever increasing need of fixing this problem, we can scale massively over time. Between all the private and public data well sites available, we believe the project will be in existence for decades time to come!

Frequent Questions in

FAQs and Clarifications

  • How did this Project Come About?

    Our team members have always been passionate about energy technology and with combined Oil & Gas experience of 70+ years, this was the obvious step. The first prototype pneumatic eco-friendly pumps were installed in 2017 on a series of oil wells to test the viability of this project. Since then, we have made great leaps forward and are now able to address this problem at mass scale.

  • What Role does the Solar Oil Project Play?
  • Can I Have More than 1 Staking Contract at a Time?
  • Why does the Staking Contract Expire in 10 years?
  • What Happens at the end of the 10 years? Can I Stake on a Different Well Portfolio?
  • Can I Change My Staking contract?
  • What is an Oil Well Portfolio?
  • What is the Breakdown of Use of Funds from Token Sales?
  • How does Solar Oil Project Generate Profits?
  • How Are My Staking Rewards Calculated?
  • How Often Can I Redeem My SOPX Rewards?
  • Are the SOAX and SOPX tokens in the Ethereum blockchain?
  • Will the SOPX token be available in any Cryptocurrency Exchange?
  • What Are the Risks and Challenges that the Project Faces?
  • How does Solar Energy Lower the Cost of Production? I Thought Solar was More Expensive.
  • What Manufacturers does SOP work with?
  • Why are Other Oil Companies Not Doing this?
  • How Can Oil Well Owners Participate with SOP?
  • Who are Some of the Key Management Members of SOP?
  • How do You Keep the Data of Participants Safe?