Like many of you who are long time holders of PBN, I have a number of recollections when management had routinely surprised to the downside, were not forthcoming with company operational information, etc.


Happily, information flow and company operations have improved dramatically in the last 12 months.  Moreover, they have been achieving milestones as outlined.  As an investor, this is the type of transparency one looks for regardless of sector or stock performance.


Recent report continues to indicate PBN is on track.  With light oil differentials closing, production on track, short positions dramatically reduced and nearing 2.5x's FTM Cashflow forecast, I think the market has indiscriminately cast this one off too far despite negative sector sentiment.   


Even though today was not the capitulation I was seeking, SP is falling well into oversold territory in my model.  Added again today at $7.71


Continued DD:)