Pieridae Energy Ltd T.PEA

2023 outlook posted...

[downwithdotcom1]

paying down debt and refinancing 1st priority, i'm a little dissapointed that there netback will still be around $12 given alot of their older nat gas hedges are expiring. 
hopefully, this is just being conservative. they have a good chunk of condesate hedged for $130 per bbl for Q4 and then it drops off to $100 in 2023. Their AECO nat gas hedges are meaningfully higher and i think spot will do very well next year as well. How can this company not be a buyout candidate for their gas plants alone that are barely 50% capacity??? thoughts??? see below..dwdc

"Pieridae’s priority for 2023 is the refinancing of our senior term debt and continued reduction of total debt outstanding to lower interest costs and improve financial flexibility. Management is targeting a year-end 2023 Debt to EBITDA ratio of less than 1.0x, subject to commodity prices."

Pieridae’s 2023 production guidance of 37,000 to 39,000 boe/d reflects the Company’s low 8% base decline rate mitigated by low-cost optimization initiatives and risked production additions from the drilling program.

[churchofnutsacc]

Their netbacks are forecasted using $4.50 gas and $73 oil, which is fairly conservative. Their main issues with netbacks are their operating costs and I don't expect they fix that in a quarter or even a year.