RE:RE:RE:RE:RE:RE:I really like to see this purchase...Hi guys,
I am no where near happy about where we stand at present, glad that we are moving back up but a long way to go.
Don't get me wrong I think it will be a much much harder climb back up, only half of what we fell until production and earnings etc. push us to new levels. And only then.
I agree paying debt to some degree will be very important long term, but I don't think Gee is fighting to get it down a ton as they want to use cash to drill while the drilling is good.
The numbers of debt per barrel or other metrics is what he is probably looking at. In other words if production rises nicely then having the same debt is not as much of an issue if production rises 50% over say three years from 78,000 to 120,000boe/d.
Now with ten plants Peyto is starting to become a force I think. Not as big as some of these other merger guys but those guys will peel off smaller plays maybe in the Peyto region to Peyto's benefit. Why spend money on a few sections here and there when you want to concentrate in other areas.
I also agree if you heard on the news no exporting of NG out of Texas so it must have been an issue where they were selling to the highest bidder at the expense of Texas. You live by the sword and die by the sword litterally I guess.
I have diversified to some extent into VET as I wanted some exposure other than Alberta and in oil too. Should VET do fantastic faster than PEY I plan on moving back into PEY to get more shares hopefully.
This new news certainly changes the picture a little bit for Peyto and gives them a jolt of gas similar to a race car. zooooooommmmm
There is going to be an adjustment from Internet bots and analysts looking backward on 4th quarter earnings etc. and maybe even 1st quarter so whether you are looking forward or backward will determine where your stock price should go.
I am hoping the next conference call will be in very much detail on all the new developements and expectations going forward and that prices of oil and gas will still be good to hang your hat on.