Ep 02 - A discussion w/Phil Hodge CEO of $PNE the "Lean Mean Dividend Machine"

Описание: Phil Hodge joined Pine Cliff in January 2012 as President, Chief Executive Officer, and Director. Mr. Hodge most recently held the positions of Vice President, Business Development and Vice President of Acquisitions and Divestments at Penn West Exploration, one of the largest conventional oil and natural gas producers in North America. Prior to that, Mr. Hodge was a Managing Director at Mackie Research Capital Corporation and J.F. Mackie & Co., Calgary-based investment banks. From 2000 to 2006, Mr. Hodge was Vice President and General Counsel of Westport Innovations Inc. where he was responsible for legal, corporate governance, strategic partnership, and corporate development functions, as well as the formation and growth of the company's business in China. Prior to 2000, Mr. Hodge was a partner at Bennett Jones LLP, a Canadian national law firm, practicing in that firm's securities and mergers and acquisitions teams in its Calgary office.

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00:00:00 A discussion w/Phil Hodge $PNE CEO of the "Lean Mean Dividend Machine"
00:01:05 Setting the Agenda of the discussion
00:02:37 Why natural gas has fallen & recent notable events summary
00:05:37 Natural gas infrastructure vs Oil Infrastructure
00:06:19 Discussing North American Natural Gas Inventory
00:08:20 Differentials at different markets ie NYMEX, Henry Hub & Aeco
00:09:30 Pipelines owned by $PNE allows PineCliff to shift 10-15% of production to higher pricing hubs
00:10:23 Pessimism for the Aeco market especially 2019-2020 and renewed optimism for that market moving forward.
00:11:15 Why it may be a good idea to add Natural Gas positions within the next 24 months in time for LNG Canada Phase 1 - (2 BCF a day) & other LNG Projects
00:15:38 Formerly known as QEBuble currently known as LNGQE shout out
00:16:13 Natural Gas Growth factors in Alberta - last 2 years growing @ ~1 BCF a day
00:23:20 Discussing PineCliff's Growing cash position (60$ Million) & Acquisitions
00:25:50 Weathering the storm of lower Natural Gas prices with better/cleaner Balance Sheets
00:32:50 PineCliff's unique business model relative to other Natty Producers.
00:35:40 George Fink's prioritization of the dividend model and taking Bontera from a penny stock to a high point of 70$ - "Low decline secret sauce of building dividend model out of a commodity company."
00:38:13 No other Canadian Public Natural Gas producer that operates like PineCliff & Why
00:39:38 The Canadian Advantage to Canadian LNG projects and overview of LNG project Time lines
00:41:19 Coastal Gas pipeline's ability to doubly supply without the need to twin the pipeline, just by increasing compression.
00:46:45 Discussing the 6 new Chinese terminals & 10% Growth as highlighted in Dr.Anas Alhajji EOA weekly report
00:47:58 Discussing PineCliffs Dividend sustainability at different Aeco prices.
00:53:56 Explaining backwardation and Contango in the Natural Gas Markets right now
00:54:39 Phil Hodge sharing the rationale he's shared with his wife for buying more $PNE
00:55:33 Discussing PineCliff's Cashflow sensitivity to Aeco prices
00:58:54 Highlighting Pinecliff current valuation & multiple vs. Historical
01:00:09 One of the only producers in North America trading at less than their Enterprise Value
01:06:30 Touching on PineCliff positive reserve revision & healthy recycle ratio's & finding costs
01:10:13 Closing it off with Q&A generated by #COM feedback.