Shares O/SThe PRQ float is 191 Million shares.
19% is held by instituions and most of the rest by the Gray Family.
I don't have the exact Gray family holdings now but did see it a couple of years ago.
It seems 2 rhings need to happen:
1. The free trading float needs to enlarge.
2. The stock needs to be promoted better by the controlling shareholders.
3. More profit needs to be generated.
(a) by developing existing land holdings.
Yes it pays a nice dividend ( which is huge to the Gray family) but so do other junior Nat GAs companies pay high dividends.
Difference is the other juniors are moving up with the price of Nat Gas.
Ken Gray is still a director of Peyto ( which I also hold) and is paying a 7.9% div., PRQ pays 8.4%.
PRQ has undeveloped land holding good potential.
Should more shares bye issued to develope more wells, thenincrease the profit per share?
Granted higher Nat Gas prices are coming which will give PRQ more working capital.
It becomes clearer as to why PRQ shares are not rising in the face of rising Nat GAs prices.
Nat GAs is just coming off a 20 year historical low.
Stock prices move higher in anticipation of better prices, not after the fact.