Silverstone was established in March 2005 with the objective of becoming a focused, profitable North Sea explorer and producer within three to five years by taking advantage of the opportunities presented as the basin matures. Material barriers limited the number of qualified new entrants at a time when the quality and volume of prospects was on the rise as a result of the re-focusing of the traditional Majors budgets to international projects and government actions such as fallow block and promote licensing initiatives.

Our business plan involved combining the strengths of the two initial partners, Lime Rock Partners and Storm Ventures International, into an Aberdeen based operation that would combine North Sea technical expertise and local business experience with proven start-up company and capital markets experience, into a vehicle that could compete effectively and profitably on the UKCS landscape.