- Hunter Technology is introducing live market testing to oil trading veterans, industry experts, independent producers, purchasers and brokers
- The limited release of the OilEx platform includes five core functions of the platform
- Live testing will enable the company to generate critical insights into user needs and industry requirements
- The company is working toward the private beta release of the OilEx platform by mid-year
- Hunter Technology Corp. (HOC) opened trading at C$1.01 per share
Hunter Technology's OilEx platform is now live for market testing.
Prior to initiating live pilot transactions for selected hydrocarbon producers and purchasers, targeted for the end of Q2 2021, Hunter Technology is introducing live market testing with senior advisers and prospective users.
Testing will be open to oil trading veterans, industry experts, independent producers, purchasers and brokers.
The limited release of the OilEx platform includes five core functions:
- purchaser and producer profiles
- listing of transaction offers by purchasers or independent producers
- interactive map enabling a visual representation of market data
- end-to-end encrypted communication channel between prospective purchasers and sellers
- document exchange and storage
Testing will be conducted using simulated data, including crude oil type, assay, output capacity, price index and other key variables, and will be coupled with search and sorting functions.
Deal terms and live chat communications will be interfaced side-by-side with executed documents for accurate and timely transaction context.
Deployed as an application in a cloud environment, this product version will be refined by industry critique and analyses.
The live testing process will enable the company to generate critical insights into user needs and industry requirements on a transaction-specific level, building on the company's market research and network of industry experience.
The testing and subsequent feedback are critical steps to ensure product-market-fit, reduce delivery risk, and deliver the highest possible value add to users.
By conducting live testing with market participants, Hunter Technology will be able to ensure a better product-market fit and expand the network of potential clients and users.
The limited release OilEx platform has gone live ahead of schedule and the testing will further accelerate time to market for the full platform launch.
"Bringing a product live and into the hands of real users is a critical milestone for any digital solutions company. It is superb to see our team reaching this point in such a short time, delivering for live testing a complete and robust system with significant growth potential," said Florian M Spiegl, Hunter's Chief Executive Officer.
On completion of the live testing, the Hunter product and technology teams will continue agile development of the OilEx platform, working toward the private beta release by mid-year and targeting initial revenue generation.
Hunter Technology Corp. is a technology company that provides an oil trading platform powered by a proprietary blockchain.
Hunter Technology Corp. (HOC) opened trading at C$1.01 per share.