RE:RE:RE:Outlook for the Birch.....When companies get desperate , they tend not to buyback their own shares, nor do insiders. Furthermore they usually do not acquire sizeable additional lands nor spend money drilling non completed wells in order to meet drilling requirements on the land.
Rather , I am sure that Birchcliff s management has faith that nat gas prices will rise again. With more than 25% of US gas rigs shut in and growing demand for nat gas , that would seem to be a very reasonable bet.
Dividends are not the end all and be all that some would pretend , if a necessary cut or suspension is neede so much the better,
I am here for the tremendous asset value which is here either as PDP or as other reserves
When you think,about it , when drillers do not drill, they are reducing PDP . That does not show up right away , but it will especially if it is not there when needed. My guess is that North America is losing PDP at a rate of 20 BCF per day. That cannot persist much longer before storage inventories start to guickly drop