Spartan Delta Corp T.SDE

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[retiredcf]

Equity analysts at National Bank also made a series of notable target price changes to TSX-listed energy companies in their coverage universe on Tuesday.

Dan Payne made these changes:

• Spartan Delta Corp. (, “outperform”) to $10 from $8. Average: $8.67.

[navajojoe]

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[baranja]

This dog is in free fall.

[baranja]

I hope so,. but somehow SDE is not a great performer after Velvet. Still need 20% to match pre Velvet SP

[TouchDown12]

Thanks for posting this info RetiredCF! Don't pay attention to the other amateur comments; couldn't likely make a dime trading value focused NG stocks like SDE. TD12

[navajojoe]

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[Fyordian]

I do - do you? Do you know what a basis swap is or how it works? Any ideas what the current the NYMEX - AECO spread is? Surely you must know that the spread is over $2.00 differential at this point and the swap is locked in at $1.09-1.15. The NYMEX-AECO basis swaps are gaining over $2.00/Mmbtu at the moment and probably will continue to do so until the natural gas supply chain gets fixed. $1-3

[navajojoe]

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[Fyordian]

Reading comprehension is a toughie, but notice how I said "$1-3/BOE net hedging loss" as in across the entire production/risk management profile. TD for example just updated their quarterly earnings price deck and is forecasting -$1.69/BOE hedging 2022E. Furthermore, to really put the stupidity in perspective - of the total 292,709 MMbtu/d Velvet hedges, 203,370 MMbtu/d is basis swaps

[Seppelt]

Fyordian,  Do you think producers should diversify into other markets like Chicago and Dawn? It was a burden but currently it is benefiting BIR and others. On the other hand, I understand that Nova summer maintenance is the cause of pipeline restrictions and low AECO prices. The work should be over by mid October if not sooner.

[navajojoe]

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[Fyordian]

What are you waiting for then? Either open the short and capitalize on us bagholders or keep your mouth shut because you can't do anything other than complain.

[navajojoe]

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[TouchDown12]

I think that the close today is very close to the implied value of the Velvet shares (5.30?) when the deal was made. I think we consolidate here - and then really gain some traction as Q3 gets reported in early November. Just my take. Long SDE TD12