RE: It ain't just PMT No... PMT has not cornered the market in it's philosophy of trying to be a "Pure NG" Player... Chesapeake in fact can probably bear the brunt of the blame for the NG glut given the fever pitch in which they sought out and acquired NG leases across the "Marcellus" et al NG plays in the US... I would say that Chesapeake is in pretty much the same boat as PMT...albiet on a considerably larger scale... does that provide any comfort??? I think not...
I am sorry Shammy's 1 dollar benchmark wasn't hit last week...I was kind of pulling for it... who knows.. maybe the drilling pull back and shut ins will bring the price back to "an economic state" ... BUT with so many companies with their fingers on their NG production triggers... ANY price rallies will be very short lived... the problem for companies like PMT going forward is that the are being pushed into hedging programs that will preclude them from taking advantage of the price spikes that will be following the reduced drilling and shut in activity that;'s just starting to show up in the news releases...
anyway... shorts are going to be holding thier boot on PMT's throat for some time to come...
GLTA.. it's MY opinion git yer own.