RE:Q3Rex...why do you think PNE carries no debt? PNE has a cash balance because how can they access cash in the dips of the cycle if banks dont even give them option of a big bank faculty?
If I was younger, more thristy to make money and more into risk, shorting PNE at 1.50 would be the best move to make in whole sector.
Isnt many scenarios in which it doesnt fall to under 1 dollar over nexy 12 months or sooner.
And the fact PNE still pays a divy in these AECO prices makes this even easier of a short.
What likely helps PNE in keeping the 7% decline rate is when NG prices are good, PNE can afford to do maintenance on those low producing NG wells.
PNE CF 12M in Q2 and divy out 11.5m...they are not really drilling for new reserves...how does this puzzle work man even for next 12 months?
PNE needs 4 dollar AECO now. If I was to ever short PNE and to make it even more riskless, wait until Nov weather is over but getting to a point eventually it is a lock.
503m market cap for old NG assets?
In one of these years, PNE is going to have to spend way way more per year on ARO spend.