RE:RE:RE:RE:Q3 Financial results estimate
I am a bit surprised by your implied desire to see increased capex.
Like TerribleEng has mentioned earlier, the value of a boe/d of a mix of 80% Natgas and 20% liquid is less than $ 7 000. Peyto's disburse $10 000 for it.
Since 15'Q3, Peyto has invested $1.52B in capex to keep production at current levels.
Peyto Enterprise value is $1.5B at current share price.
Can't you see Peyto's myopic approach has helped (yet not alone) bring share price at $2.50.
Peyto's Balance Sheet looks ugly. Treating debt like a no issue might not be a problem for the BOD, the CEO, the employees or the suppliers of material and service. but it is a huge one for shareholders. As long as Mr. Gee says the debt is not a problem and insiders sells in the gutter, fear will prevail among investors in the shares. But this is the plan and it is working pretty well.
The other strategy would have been to cut the capex program in half, reducing production to less than 50 000 boe/d, reduce debt to $600m and have $200m available for the NCIB. peyto would today be in a position of strenght to get back to full operation when the time is right.
Now is too late. the plane has hit the cliffs. ;)