RE: HedgingAZThat is some fancy dreaming going on there deloria, BOTH Birchcliff and Blackpearl outclass PMT on market value by a billion or more... EnCana has plenty of it's own upside ...CNOOC is a paper tiger and it's my belief that it intends to stay that way...as for PMT's loan facility... I read it as a downgrade by it's lender not a request by PMT... As for hedging... I would be inclined to believe that with NG's current pricing environment it would be far more prudent to let ALL the production ride on the day-day market...IF I'm looking for ANY positive news it would be that PMT is shopping around a 20-30 year NG supply contract for the same production they are hedging... in the short term it would provide a 10-15 percent premium on current NG pricing and offer a constant and steady income (just like a hedge I Imagine) IT would also boost investor confidence by signaling to shareholders that PMT is in it for the long term.
It's my opinion git yer own.