Can't This Management Team.........stop doing the opposite of how TOU runs its business - I mean, you've go the blueprint for success as a NG company staring you in the face, yet you insist on making high risk, foolish decisions that have now come back to bite you and shareholders alike.
1) TOU pays a modest dividend given their size, then pays special dividends if and when when extra cash is not needed for operations (which has been happening a lot lately).
2) TOU has a very effective hedging strategy in place. From TOU's press release dated November 1, 2023: Tourmaline has an average of 755 mmcfpd hedged at a weighted average fixed price of C$5.07/mcf, an average of 155 mmcfpd hedged at a basis to NYMEX of US$0.39/mcf and an average of 809 mmcfpd of unhedged volumes exposed to export markets in the fourth quarter of 2023. Of this 809 mmcfpd, 68% is exposed to premium markets such as the US Gulf Coast, Western US, JKM and Sumas.
Tourmaline has an average of 722 mmcfpd hedged at a weighted average price of C$5.35/mcf, an average of 119 mmcfpd hedged at a basis to NYMEX of US$-0.05/mcf and an average of 833 mmcfpd of unhedged volumes exposed to export markets in 2024. Of this 833 mmcfpd, 65% is exposed to the aforementioned premium export markets.