news out. changes to spy model news out under pce and chx. PCE one is better.
some highlights,
dividend model change, .0225 per share dividend 25 - 30% payout ratio.
2013 capx - 80M , dividends 26 million, 1million per month for debt reduction. nat gas hedges going up.
2014 capx - 100M, dividends 35 million
looks like spy has addressed the dividend concerns about the first year and possible dividend growth when production comes onine. and has put a 100M for 2014 capx program.
Novas concerns have all been addressed. and pce contacted 140 companies, 8 contacted pace and talked. no superior proposals were received.
currently 90,000 boe/d currently for sale. so not a good idea for PCE to test that market.