RE:RE:RE:RE:RE:RE:RE:Perpetual Energy earns $2.54-million in Q2Shambano, I appreciate your enthusiasim with regards to PMT but I dont see this company having their day in the sun just yet. It will take some more time. Probably another 5-10 years to see the kind of gains you are expecting and that is after accumulating thousands of shares at these levels and hoping and praying to god that things go in your favor. But to rack up that kind of investment and put all your eggs in one basket is too risky, plus there are other opportunities that will come while your money is tied up. It has been a good 5 years since this companies decline and it only bounced back over 2 bucks due to the joint venture announcement.
This stock has been pumulled due to nat gas prices retreating from $13 bucks all the way down to $2. Nat gas prices were up briefly over $5 and now back down. PMT is still very much heavily weighted in nat gas. When times were good they overleveraged themselves and did not anticipate the great pull back to $2 which is why they are constantly fighting their balance sheet.
2015 will be interesting as they are not hedged at all on nat gas prices. They are trying everything they can to stay afloat and make some progress but I think shareholders are tired and have moved on.
Anyhow, I didn't think the quarter was that fantastic. Again they made a little bit of headwind but nothing that would grant a huge increase in shareprice. They have told the market what they plan to do, now they need to do it and do it even better then what they told the market for this stock to take off. Meanwhile nat gas prices must go in their favor. One would think the future of nat gas prices will be higher, however with those higher prices come higher BOE costs. PMT needs to stay ahead of the game.