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Tickers in this Article: SM, CLR, WLL, KWK, SII
The internet has made researching stocks much easier as information is available almost instantaneously to investors. The websites of company investor relations areas are critical in this effort to supply information, but some companies are just not up to speed on ensuring the Internet remains an effective tool for researching stocks.

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St. Mary Land and Exploration
(NYSE:SM) is an exploration and production company with an interesting collection of assets in the Haynesville and Marcellus Shale, two emerging areas in North America with great potential.

Unfortunately for investors, you can't tell this by looking at the company's operations page on its website, where there is no mention of any properties in the Marcellus Shale in Pennsylvania. Also, whatever Haynesville Shale potential the company might have is cryptically labeled as ArkLaTex, which is industry shorthand for Arkansas, Louisiana and Texas. An investor has to dig up a presentation on a different part of the website to find current data.

Are you interested in the company's reserve position? Don't bother with the company website, as it still has year-end 2007 reserve data and its 2008 capital spending plan for each of its regions.

If you think that St. Mary's is a little behind, then take a look at the website of Continental Resources (NYSE:CLR), another independent exploration and production company. Continental Resources lists reserve, acreage and PV-10 data on its properties from year-end 2006. Once again, an investor has to dig into the website further and pull up the most recent presentation to get current data.

Whiting Petroleum (NYSE:WLL) has always been an interesting company since it is one of few exploration and production companies that primarily produces oil. Once again, the company still has its year-end 2007 reserve data on its operations web site.

Quicksilver Resources (NYSE:KWK) focuses on the Barnett Shale, but has a company data sheet dated August 2008 on its website. Certainly enough has changed at Quicksilver to justify an update here.

Are you interested in the latest management presentation on a company's businesses? Well make sure you don't head over to the Smith International (NYSE:SII) website because that company's latest update is from November 2007.

Bottom Line
Although the internet is a great tool, and has made life easier for investors, some publicly traded companies don't seem to have the time or inclination to keep their website up to date. (Learn how to gather all the pieces before you start to put together your puzzle in our article The Flow Of Company Information)

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