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During Q2, Peyto Exploration & Development (PEYUF) generated again a total positive netback in the context of depressed gas prices. And with a reduced capital program, free cash flow covered the dividend and allowed for a modest debt reduction.
In this challenging environment, management is preparing for the future. Besides its focus on increasing liquids production, the company is buying land and is avoiding AECO spot prices.
As the stock price keeps on dropping, the valuation is more and more attractive. And considering the limited risks, I'm confident in keeping my shares for many years