Peyto Exploration & Development Corp T.PEY

RE:After waiting for over a year

[houbahop]

Yep I remember a year ago when I tripled my PEY position between $1.25 and $1.50.

Easy to say today I could have bought more, but I still carry them all although my target has been reached. I am waiting for the next up move (to 8+?) to sell 33% of these and bring my cost basis for the reminder of my position to zero.
PEY shares represent the biggest paper loss I ever sustained in over 20 years of trading/investing and fortunately, it might turn out it will be the biggest profitable trade.
I am fortunate to have bought at these levels but the stock should never have gone that low. Like in the OVV case, the BoDs lost it completely in their fiduciary duties, increasing debt irresponsibly although the writing was on the wall. Breach of covenant and banks raising their financing rates left shareholders in a corner. In 2020, $58m went to service a debt that increased by another $50m y/y.

Hopefuly, natural gas producers do not have the same plan has Peyto, aka increasing their production by 20% this year. The kind of plan that will crush NatGas price again. So stupid! 

Will PEY do like OVV and multiply X10 this year?

Who knows?

[houbahop]

Still in my long term drawer. My dividend return on those will be substancial.

[houbahop]

houbahop - (3/10/2020 4:24:08 PM) After waiting for over a year I finally bought a substancial amount of PEY at $1.40. To be put in my long term drawer. It's either a triple or $0. https://stockhouse.com/companies/bullboard?symbol=t.pey&postid=30790176

[Yasch22]

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[MikeySwoosh]

First off, congrats Houbahop on the substantial paper gain, and hence, lofty dividend yield you're collecting, though isn't the whole point of investing (which also applies to the companies we invest in) to make your marginal dollar do the most work for you (within your risk tolerance)? There's obviously tax implications of disposing any of your position, but the liquidation value of

[Yasch22]

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[MikeySwoosh]

Yasch, this sounds like a pretty good scenario for Joe. Lucky enough to roll the dice a mere three years ago with $100K and be playing with house money a year from now (assuming the dividend remains intact). This might very well be the reality for Houbahop as well. Anyway, the thing is Joe could have bought a 20-month (for the sake of the argument to get to Feb 2024) GIC that would have yielded in

[perplexed01]

this scenario hits close to home for me and possibly many other retiree snowbird pey shareholders.  lots of us from the great white north.  Yasch, as always frames the problem well & presents a thoughtful analysis.  (are you an engineer by chance - your approach sometimes reminds me of my profs from 40 yr ago?).  it would be great if more on this board (modest or not) share

[Yasch22]

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[Yasch22]

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[uncutgems]

lol now I've seen everything. the final "holdout" recognizing true greatness. took him forever though.