PEY—more bad Q3 hedges, yet there is hope... If you invest in PEY you are automatically losing approx. 76 cents/share in present bad hedges. I'll round it up to 90 cents/sh inc. ugly virtual transportation charges. Q2 was bad, bad, bad in this regard, and Q3 will hurt worse with higher unhedged index prices--so where's the upside?
While many are/will trade into companies without the bad hedge book millstone (hello BIR!), i'm banking on PEY for this very reason. If the market discounts it's future value by more than the poor hedging warrants, then it's a value play in my eyes with its low costs and growth. For those of you who have read Peter Lynch, Peyto is giving off a waft of "Cajun Cleansers", which smells like dough to me--GLTA.