Management Mistake Management made a mistake in not providing frequent updates on water-flood production. The success of the water-flood in rebuiling sustained production is vital to company success in dealing with the high decline rates in primary production. Yet, they have chosen to release data only coincident with quarterly updates.
This creates an uneven playing field, wherein those with access to field production data through the likes of GeoScout can see the effect of the water-flood earlier than other shareholders. Under normal circumstances this is less of an issue, and were it a new important well, the company would certainly be releasing updates ahead of the data becoming "public" through the paid services, or maintaining a confidential status.
In PRY's case each water-flood project is behaving like a new development well and all shareholders should be provided equal information through timely corporate releases ahead of the "public" data.
Terr
PS If anyone has access, feel free to share the latest prod rates in the water-flood projects.