Studs in the exterior wall GII listed

[BearBunni]

Can anyone tell me what these small studs are which run all the way around the bottom of the house. I wonder if this is underpinning? Any expert help and advice will be gratefully received.

 

[Stevers]

Looks like the plugged holes for a patent damp proof injection system. Whether that's good or not is down to whether it worked, but it's fair to say that there's considerable sceptism about the process amongst forum members.