Re: Energy summary excerpt
Excellent post as always.
I repeat: too much debt is a figment of everyone's imagine. On a book value basis, PWE is in the upper 25 percentile of the array of companies. Just because someone on TV or the ANALysts believe the debt is heavy, doesn't make it so. Selling valuable assets in this market is foolish. The lenders/note holders treat PWE like a stepchild and needs to find other funding sources. This energy environment isn't permanent and PWE is in need of creditor PARTNERS.