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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 houbahopon Aug 24, 2024 5:46am
214 Views
Post# 36194449

RE:RE:RE:RE:RE:RE:RE:RE:RE:Energy Trends

RE:RE:RE:RE:RE:RE:RE:RE:RE:Energy TrendsI became a shareholder of Peyto in 2006. I have been ever since.

I went thru the ups and downs from $20 to $6 to $40 to $1 to where it's standing today.

Watching the business closely, I was able to trade those fluctutations favorably and increase my position and the % PEY takes in my portfolio. From a few thousand shares 15 years ago at an average cost basis of $15 and 5% of my portfolio. Since then, the position has multiplied eightfold at an ACB of $5 (after substracting accumulated dividends and trading profits) and now represents 15% of my portfolio. I could not have build up this position without Peyto's total screw up on its past dividend policy financed by debt, the horrible basis deal they made out of frustration with AECO negatif price and these hedges put in place under $2 (and as low as $1.50 (if I remember correctly). All these, added to a nasty flooded Natgas market brought PEY on its knees. I could feel the pain as a shareholder, seeing my biggest winner turn into my biggest loser!
In March 2020, I did something I never wanted to do. Double or nothing at $1.25.

Peyto's poor decisions allowed me to build a position that gives me great reward today. 


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