More major "skirtage"...Why can't he just be straight forward with his answers?
Howard, you asked Lynn why there was such a large discrepancy between the actual production numbers PR'd (not production "capacity" facility numbers) and the numbers published by California's regulatory agency, the DOGGR, and he starts talking about production "capacity"? Production "capacity" means nothing. There are many oil properties all over the country sitting there idle due to currently adverse economic reasons with 10 times the production "capacity" facilities as TIV has, or will have, on their little PV lease. It sure seems he NOW desperately wants everyone to believe he only touted production "capacity" numbers (and he even capped it to make that point) in all those big production "projections" (and he even now calls it "projections") PR's.
Does this first line in that June 27th PR sound like he's talking about production "capacity" or actual production? "Tri-Valley Corporation (AMEX:TIV) has exceeded 2,000 barrels of oil equivalent per day (BOED) rate with total field production RECORDED AT 2,058.3 BOED from its 43 active producing wells on six California properties." (a few caps added). I guess TIV "recorded" the production capacity facilities, not the 43 wells, at a rate of 2,058 BOED, right? So when Bell further states this, "...we believe we are on track to become a 10,000 BOED enterprise by the end of this decade", we should assume that means they are "on track" (?) to have enough production "capacity" facilities in place by the end of this decade (end of 2009?) so in case they ever get that kind of production level on a daily basis the capacity "infrastructure" will allow them to produce it?
And on the DOGGR confidential thing...everyone already knows the DOGGR is the regulatory agency who puts wells on and removes wells from the THEIR OWN confidential status list. And his final comment, "even if its removed we are not ready to comment in detail about the wells for competitive reasons" to me implies he sure doesn't want to say anything RIGHT NOW about the wells not being on the confidential list during all those times he was stating they were.
In any case, I am VERY GLAD to see the 2 PR's stopped the share price "death spiral" and to see its heading back up...at least right now. We have a very long way to go to regain all those millions lost in shareholder value over the last 6 months, but its start.
Geo
Just my personal opinions and observations...
