RE:RE:RE:Got I wish, used to own way more, but lost a ton in 2008/09.
I really wanted to buy as much as possible with available cash under $2, borrowed at $5 up range unfortunately.
There are certain price ranges I am looking for to be debt free, then have some cash left over if I sell say 1000 at $15, 1000 at $16 and so on.
I am not sure if there will be new drilling as you say at $3.25U.S. for NG pricing as the banks are burnt badly, thousands have left the industry for Greeeeen pastures etc.. It would take time to get back in.
Meanwhile companies like Peyto are picking up land like crazy in their key areas with fierce density for efficiency.
So where do new guys go?
Buy a bunch of older properties where millions are required to clean up those half used wells ready for retirement homes.
$4 to $7 is easy money but it will depend upon Peyto's growth to move it onward from there and pricing to work hand in hand.
I don't think LNG will be before 2030 if at all but if it gets close then things will be impacted for sure especially if NG demand continues rising per recent reports we see on the Small Cap oil and gas board.
People are sure going to kick themselves if they sell out in the $5 range or even under $10. Just look at the 20 year chart. Prices are key of course in all of this but with Peyto's drilling efficiencies they can compound growth with new wells over and over and over.
However, we then get into the same old same old PRODUCTION DECLINES having to drill enough to keep up with those once you increase overall production significantly.
There has to be a solution to all of this, not sure where though.
I am really surprised by the lack of interest on this board with recent pricing moves. It is at least more comfortable to know I won't have to sell the house. Many people were also on margin and still trying to get out of the hole. A bad market makes people scared and afraid to make any moves at all.