Staged capital
Advance commitments as uncertainty is reduced and decision quality improves.

Cherubim is being built around rigorous technical and commercial evaluation, stage-gated commitments, defined decision rights and clear stakeholder communication.
The investment case is strengthened when technical, commercial, capital and operating decisions are evaluated as one system.
Advance commitments as uncertainty is reduced and decision quality improves.
Prioritise technical and commercial quality over activity for its own sake.
Match governance, incentives, risk allocation and capital to the opportunity.
Connect approved assumptions to operating performance, variance and action.
Define thresholds, decision rights, assurance and escalation before commitment.
Provide concise, evidence-led information appropriate to each stakeholder.
Corporate, leadership, governance and opportunity materials will be provided when verified, approved and appropriate to the recipient.
Potential routes may include strategic investment, opportunity introductions, asset-level collaboration, joint ventures, farm-ins, technical alliances and other structures appropriate to the opportunity.
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Building a Western Canadian upstream oil and gas company with clarity, technical rigour and responsible development.
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