RE:SDE: Manipulation, Gross Undervaluation, High AECO And they're minimally hedged, with 100% AECO and no expensive transport contracts, look at what VII did with Alliance and Peyto did with its 'basin diversification': they gave away almost all of the 2021 upside in NG pricing. SDE is much simpler: get BXE for $100M and generate ludicrous amounts of FCF.
As Q2 & Q3 results and early results from their second half drilling program (including 4 on the Inception lands) come out maybe they'll get more respect. It was just a year ago you could buy RTN for $0.025 and there were a zillion shares available. Taking a breather at $5.60 is ok.
By being on the venture they're not marginable for me and I hold as much as I care to.