Petrus Resources Ltd T.PRQ

Divvy?

[topdop]

For those of us that had the foresight (and nerves) to follow the Gray money and buy PRQ at throw away prices over the past 5 - 6 years (I bought a bunch in my TSFA at 8c), the roadmap for our way forward can be seen over at PEY.

Notwithstanding that company's disastrous Hedging Program, we should now expect to see an inaugural divvy a year from now at PRQ and as just reward for the cyclical vision and patience needed - extreme at times - to have stayed the course - Gray clan in particular.

I fully expect that after their gutsy, and very welcome financial rescue, they too, will want paying, just like any shareholder. The PEY DNA is all over PRQ - and so with that should come an inaugural, token divvy later next year.

Disclosure: I own both.

[Seppelt]

Further strong growth has been forecast for 2023, averaging 13,000 boe which means much higher exit production. Not an easy task given faster declines on new wells and inflation. All good but little room left for a divy, unless oil and gas prices move higher and stay at that level. Another option is to sell the co and retire.