RexI didnt want to wreck my Karma and write the post and be a negative nelly ealier, but I knew Pinecliff was going to get crushed. If was younger and more ambitous I would have shorted Pinecliffe over 1.40 like hotcakes as number 1 thing to do. But I didnt. And I dont want to profit off others pain so I refuse to short anything. Just sidelines. I didnt want to be right on this and I dont take any glee.
I knew Pinecliff would have a really bad Q2 as Q1 showed it....yet the market ignored this.
PNE only CF like 19m after getting 3.74 on NG price in Q1. Divy is over 11m. Boom all a person needs to know to gather Q2 is going to be pretty bad.
1.56 and I think people fortunate if it holds 1.20-1.25 tomorrow. Likely lower than this. I dont follow trading enough on it.
The porblems just get worse when have wells that can produce so little ng per month. When spot Aeco is under 2.50...how does one justify doing any fix on a well producing 400 in revenue. So production levels can be sensitive to that aspect if prices fall below a certain theshold.
One of the things that helps lots of companies with old assets start producing more so fast after price spike is well reactivations. But negative part on other end if prices go too low.