Natural gas is on a breakaway with an open net... Q1 FCF is going to be real good and the current price environment for natural gas translates into significant FCF generation for PNE in Q2 and beyond. Results will see a strengthening in PNE's corporate balance sheet and this in turn will enhance shareholder returns.
As the price of natural gas has risen steadily, the willingness of buyers to meet the asking price for PNE has translated into an enhanced share price in the past couple of weeks... we're up 19% in the past 3 trading days alone!
It would appear that global NG markets are unprepared for eventual tighter supply balances later this year... that's a recipe for higher prices. With that in mind, I see PNE share price going even much higher.
The FCF story for PNE looks long and strong. Unless there is an unexpected collapse in NG prices, investors can count on significant capital returns through a combination of dividends and special dividends.