LEITH-based geophysics company Adrok, which has pioneered a new method of exploring for oil gas and minerals, is seeking to expand its operations in Australia as part of a "very aggressive target" of achieving a £100 million in turnover within the next five years.
The company, founded by father and son geographer-geologists Colin and Gordon Stove in 1997, has spent 10 years patenting and proving an ultra-high-tech method of detecting sub-surface deposits known as Atomic Dielectric Resonance (ADR).
Gordon Stove, Adrok's managing director, said the method contravenes the "laws of classical physics" which place limitations on the ability of radio waves to penetrate deep underground
ADR uses quantum electric dynamic theory to allow the creation of deep "virtual bore holes", giving clients an accurate picture of the geology of the area surveyed, at a fraction of the cost of that derived from conventional test-drilling
Stove said: "We currently have a turnover of between £1.5m-£2m but we are growing fast, tripling our workforce within the past six moths. We would be very disappointed if we didn't achieve £100m.
"If our plans to break into Australia work out as we expect, we will be able to augment our revenues very substantially in the next five years."
At present, 90% of Adrok's business comes from North America, with only 10% from Australia. The firm has just appointed Australian geophysicist, Barrett Cameron, as its business development agent in Australia, based in Perth. Stove said that Adrok intended to establish a permanent survey crew in Australia in about six months' time. "It's a bit of an inconvenience trying to service this market from Edinburgh," he added.
Adrok's main clients in Australia are the BG Group (UK) and Teck Resources (Canada), which invested £3m in December 2011.
Stove said that notwithstanding recent fears of a slowdown in China, the major client for Australian mineral deposits, the long-term prospects for exploration in Australia remained strong. He said: "It is estimated that about 80-90 of Australia's onshore land mass has not been explored; geologically it follows that there must be as much mineral deposit in the uninhabited parts of central Australia than on the periphery."
The company, which emphasises the green credentials of the non-invasive technology, has appointed Edinburgh-based brand consultancy Stirling Associates "to raise awareness of the technology and the company".
ADR works by detecting and analysing the electromagnetic radiation absorbed or emitted by a substance, giving an image of the shape and contents of substances far beneath the surface. The alleged benefits include low energy use, minimal chemical or biological changes to material under examination, and the ability to operate through air, water and rock.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article