Anyone else excited, ecstatic, or even euphoric?Back on March 24th, I was fortunate enough to pick up 25K shares at $0.29 each. For the next couple of weeks the price stagnated and fell to the $0.25 range. I almost cashed them in and took the lost... but for some reason, I didn't get around to pulling the trigger. Within a couple of weeks the share price had topped $0.30 and it has been a slow upward climb from that point.
I have just watched the video/interview with Mr. Phil Hodge and to say I'm excited is a bit of an understatement... its more like ecstatic or euphoric!
A few days ago I mentioned in a post: "Very little, if any new supply... a lack of services and companies not growing, but rather they are wanting to pay down debt... big demand vs low supply will serve to drive price higher.
This in turn will allow for excessive cash flow and hopefully PNE will continue to pay down debt, buy back shares and maybe later on, pay a dividend to its shareholders."
The model that Mr. hodge presents is a knight in shining armour...
* Lowest decline rate in Canada
* No spending on drilling
* NO bank dept
* > $42M in debt owned by top 3 shareholders
* 2022 -- debt free
* Less than 1:1 debt to CF
* $60M - $100M of FCF
* Insiders own a lot of stock and continue to buy
AND, according to PH, barrels of cash... and if he said it once, he said it at least a dozen times... we want to RETURN the CAPITAL to the SHAREHOLDERS!!
That means a DIVIDEND... that means increased investor interest... that means that the PNE stock price is going UP, UP and AWAY!
Did I say I was EUPHORIC!!