Birchcliff Energy Ltd T.BIR

Wow Yeiling OVER 10%

[SadieLadyCO]

you cant beat that. SO buy hold for ever...$8.20 or less...10%

[AlwaysLong683]

....Unless they cut the dividend at some point.

[Poetwhen]

This post has been removed in accordance with Community Policy

[PlutusofCrete]

Why is there so much concern on a divy cut? BIR has little debt. BIR can cut CAPEX.  BIR can cut the divy by 10 cents, 20 cents, 30 cents, 40 cents.  It will be okay, the company is in the best position its every been in. If we feel oil and gas prices are going to be trash for the next decade...then I think we have a problem. 

[barneyj44]

Capex will be cut before the dividend, that directly from Jeff Tonken when the Board raised it to .80 cents a couple of weeks ago. 

[Naveed23]

Exactly. Everyone is so concerned about the dividend and quickly forget how good of a company Birch is. 2 months of low natural gas prices and people are wanting to write them off. It's very easy to say today that they should have hedged but if they would have hedged for 2021 and 2022, they would not be in the amazing financial position that they are in today. Nobody can predict the future but

[AlwaysLong683]

I think it's a bad move if you don't hedge any of your future production when the HH NG price is over $6 USD and AECO over $4 CAD as it was for much of 2022. TOU does it. ARC does it. BIR thinks it can get away with it. Anyone want to take a guess when NG prices will be that high again......? I Whether you cut capex or not, if you are 100% unhedged, you get the current price for NG sales

[Naveed23]

I agree that it would have been good to have some hedges in place at or above $5/mcf. I just think it's a bit quick to judge them for their decision making as no hedging has worked in their favour for now. Perhaps they know something that we don't. They have experienced bad hedges in the past and maybe have too much tunnel vision when it comes to hedging. I'm curious how many or if any