u-all come back now Lambchophey lambs, good day for oils and I made a nice trade on ATH for 1100 bones, can't complain.
I'm trying to sell some july 20 CVE calls options just in case she falls back but any case the shares were purchased at 16 range, so it's just extra cash or a long term investment, either way is fine for me, so pay me now or pay me later sort of thing.
PMT is a puzzle after that sell off yesterday?
well they have stable and possibley climbing heavy oil production due to water injections, which be worth more now as oil rise towards 50 USD.
they have the phase 1 pilot at panny which they have said is above planned produciton by 10%, now don't get your panties in a knot, this could simply mean 4 bpd veruss a plan of 2 bpd but it could be much higher as well, we jsut don't know until q1 if then? maybe they don't want to advertise panny just yet but we do know they will need 20-30 million for phase 2 pilot, which could be a much bigger project with bigger future implicaitons for JV's and or asset sales.
these types of assets are not included in PMT's current SP IMHO, but of course I could be wrong.
reserve based NAV is over 3.00 or 3.50 and we are trading at 1.15, HMMMMM
but I agree with the bears we need much higher NG prices even if they reduce LTD by 150-200 million which is very positive as well for their survival goign forward.
I expect 2 more deals in 2016, to raise cash and lower debt and possible even asset purchases in and around their core plays.
Look for soem action at columbia as a possible JV with TOU and TOU is ahving very good succes on their columbia acreage I think I read somewhere but that could be dated as well.
so long lambs