* current production is 3600 bpd with two more wells to tie in.  They have not completed any drilling for around a month now so natural declines are keeping the production flat until they get drilling again in a few weeks (May) after spring break up.

*  the company had around $19 mm in debt as of 2012 Q1E

 * on a segemented basis, PRY scores at the top of the net-back generation list for Canadian E and P's as they have over $70 bl of net-backs (over $76 bl in actuals as of Q4 - 2011).  99% light oil production and reserves will do that for you.

 * company released actual productuon results (history).  Well results are mirroring an area that is between the Type 2 and Type 3 curves based on thirty wells with production history.  Nothing like what the CIBC report suggested imo.

* PRY has one none-operated (LPR) 2011 water-flood project and now has another three in the pipeline.  The 2011 water-flood will have its one year production report history released by LPR this summer.  So far very encouraging.

* company provides an updated resource / reserve estimation (posr 2011E) for their Slave Point land package.  Best case reserves + contingent + prospective have now increased to around 105 mmbo using primary recovery.  High case, using the same format results in a possible 165 mmbo using primary recovery.  Numbers have been revised up quite aggressively post 2011E.  Very nice to see.

* bottom line, for me at least, with light oil prices close to $100 bl again, is that PRY remains the most attractive Canadian oil E and P based on its production growth potential, cash flow generating capacity (net-backs), and longer term reserve capture.  No story matches it imo.  Management does care about the share price as this is their fourth new presentation since the start of the year.  The story continues to unfold and get better with time.  Not long now until they start drilling again.

Oiljack