Well written Kurt and agree re: PIPEI, too, work for a major oil and gas company that has operations on the doorstep of Grande Prairie area and have followed this story very closely for about 3 years now. Maybe we are with the same firm, but if you look at a map of NuVista, Cenovus, Kelt, CNRL, Ovintiv, AVV, etc etc, you will see the area saturated with Montney drills that has not slowed down (except for the 2020 covid pause)...and if anything, is actually getting busier. I see, first hand, what our wells are doing, and what our competitors are doing...then what PIPE is doing; not to mention their land base - largely undrilled (primarily due to close proximity to GP).
I have no doubt that PIPE should now be at least $2 per share. And as Ruud has stated, quite possibly 4 x 5 times that; in time. My only real worry is the possibility of them going private. A lot of us would still do ok, but the upside is MUCH BETTER if we stay the course and wait patiently for the next few years and the inevitable buy-out in 4 - 5 years. GLTA