NG pricing is KILLING POU......And anyone else who is heavily weighted towards this valuable but extremely cheap (tight now!) commodity. Aside from that, the rest in th report was rather OK. The BIGGER problem here ffor Paramount, aside from the dismal NG prices is SIZE & investor's perceptions. In the grande scheme of things, Paramount is rather small potatoes, a small fish in a rather large ocean with VERY big intimidating sharks, where investor who go fishing don't really give a rat's behind to invest/take a risk in Paramount or be part of POU's world. THIS is the problem here.....going forward.
And let's be frank here, it's not that Paramount's stock hasn't performed well in retrospect compared to some other failures like Birchcliff or Pipestone (RIP ole friend!), its that folks EXPECTED more from them on a different scale. This is where Pou mgmt/bod erred. Instead of playing footsy or the "waiting" game being to cautious, these guys should have been more proactive, more agressive on the M&A side of things.....and started to supersize them for the future. But they failed big time on that front. Hopefully, 2024 will be different and Pou mgmt/bod will realize the error of their ways. At the very least, the very easy low hanging fruit here, they should have made some "efforts" to consumate a deal with their sister company Nuvista by merging with them. where they STILL hold a VERY "meaningful" interest.
I don't know what their state of mind, plans or objectives are for 2024 & beyond, but "getting bigger" OR getting out should be one of their top priorities. Becasue if you don't have size for a North American produver, espescially for ALL those little Canadian minows all still swimming around up there, then you don't matter to the market or VIP investors. And by suze my friends, i mean at the VERY bare minimum of 100-150k of boepd. And unfortunately, POU is just a tad short of that target ......for now! Hopefully these "got it" or will get it and they'll make more inteliigent for themselves, the company & their s/h.......
GLTA