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Bullboard - Stock Discussion Forum VIRGINIA HILLS OIL CORP VFGGF

"Virginia Hills Oil Corp, formerly Pinecrest Energy Inc was incorporated under the ABCA on March 24, 2006 under the name Testudo Oil & Gas Exploration Ltd. The Company is a Calgary, Alberta-based oil and natural gas exploration, production and development company with operations in the Canadian provinces of Alberta and Saskatchewan."

GREY:VFGGF - Post Discussion

VIRGINIA HILLS OIL CORP > Management Mistake
View:
Post by terroir on Apr 30, 2013 1:21pm

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.

Comment by bobby1231 on Apr 30, 2013 5:16pm
We have to wait less then two weeks for Q1 to be released.   PRY is a buy at these levels.IMO
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