You must now read the terms and conditions in the disclaimer, below, and accept them, before entering the website of a particular public, independent Permian Basin horizontal, unconventional oil producer.
Don't agree to its terms? No looky, sorry.
I think all this hooey essentially means this corporation can say whatever the hell it wants to say about itself on its own website, but it most likely won't be true and it will not be the same information it will have to file, legally, with the Security and Exchange Commission. You, as an existing stakeholder, or a potential dumb one, can read the information the company is providing, solely for its "convenience," and because the corporation "believes it's statements are based on reasonable assumptions," but when things go south, more than they already are, you can't hold the company liable; it is officially off the hook. Investor presentations then are sort of like... entertainment. Rated PG. For the real deal you'll have to wait and see what's in the SEC filings.
In other words, its probably not a good idea to believe a word this outfit says, particularly about reserves, EUR's, drillable locations, resource potential, etc. etc. Does this imply, after all these years, that nobody's investor presentations can be fully trusted?
Well... no shit on that.
Actually, I admire these guys, whoever they are. They're being honest. And its probably a really good idea to let this new disclaimer fly right before 4Q2020 earnings. We might see more and more of these sort of disclaimers now, which is OK, I guess, until they want a credit card number to get in.
Looking at any investor presentations, by the way, is fraught with peril so I suggest the "read and accept" disclaimer for all shale oil corporations should actually look something like this...
"You unlock this door with the key of imagination. Beyond it is another dimension - a dimension of sound, a dimension of sight, a dimension of mind. You're moving into a land of both shadow and substance, of things and ideas. You've just crossed over into the..."