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Peyto Exploration & Development Corp T.PEY

Alternate Symbol(s):  PEYUF

Peyto Exploration & Development Corp. is a Canadian energy company involved in the development and production of natural gas, oil and natural gas liquids in Alberta's deep basin. The Alberta Deep Basin is a geologic setting situated on the northeastern front of the Rocky Mountain belt in the deepest part of the Alberta sedimentary basin. It acquired Repsol Canada Energy Partnership (Repsol Assets), which included around 23,000 barrels of oil equivalent per day of low-decline production and 455,000 net acres of mineral land. The acquisition includes five operated natural gas plants with combined net natural gas processing capacity of around 400 million cubic feet per day, 2,200 kilometers (km) of operated pipelines, and a 12 MW cogeneration power plant. These assets include Edson Gas Plant and the Central Foothills Gas Gathering System. The Company has a total proved plus probable reserves of approximately 7.8 trillion cubic feet equivalent (1.3 billion barrels of oil equivalent).


TSX:PEY - Post by User

Comment by sportstermathewon Jun 28, 2022 7:21pm
234 Views
Post# 34789043

RE:RE:TOU take PEY

RE:RE:TOU take PEYIf you gave me $24 for PEY right now I may take it, only for one reason:  1: there are a lot of other companies out there to go into right now at reasonable prices, especially on this dip.

However if TOU did this would their price not drop also?  at least to some degree?  or maybe go up because PEY is such a great deal.

One mentioned about PEY's low ownership by management, this is probably due to being fully invested in one or several oil and gas firms already.  Even at $1 per share or $2 they may have had a hard time finding the funds not that they would not want to.  Or the timing to buy was missed for the short windows management are allowed to buy and sell shares.

I had that problem as a portfolio manager and it hurt me a few times.

Maybe when PEY gets to $30 to $50 someone can come in and take it over.  I can see their production levels getting to 120,000 to 140,000 per day in a couple of years at current prices.  They need this for the new Cascades plant coming soon in 2023.  Only six months left in this year.

Add in a potential for 2025 LNG yes I can see other companies wanting them for sure.

Was thinking today of going 100% PEY but some of my smaller positions actually do better on growth days, not to hinder the fact they fell hard too.




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