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BTU vs. USO, etc : 11/1/2018 : $31.01 / $11.95 = r 2.595 The company supplies coal primarily to electricity generators, industrial facilities, and steel manufacturers. It owns interests in 23 coal mining operations located in the United States and Australia. Peabody Energy Corp. Peabody Energy Corp. engages in the business of coal mining. It operates through the following segments: Powder River Basin Mining; Midwestern U.S. Mining; Western U.S. Mining; Australian Metallurgical Mining; Australian Thermal Mining; and Trading & Brokerage. The Powder River Basin Mining segment operations consist of its mines in Wyoming. The Midwestern U.S. Mining segment mines mine bituminous coal deposits. The Western U.S. Mining segment mines both bituminous and sub-bituminous coal deposits. The Australian Metallurgical Mining segment engages in the export of coal of thermal grade. The Australian Thermal Mining segment mines coal of metallurgical grade. The Trading & Brokerage segment engages in the direct and brokered trading of coal and freight related contracts through the trading and business offices. The company was founded by Francis S. Peabody in 1883 and is headquartered in St. Louis, MO. Peabody Energy Corporation (BTU) Top Holders Institutional investors currently hold around $3.59 billion or 6.4% in BTU stock. Look at its top three institutional owners. Elliott Associates, L.P. owns $874.28 million in Peabody Energy Corporation, which represents roughly 24.77% of the company’s market cap and approximately 24.35% of the institutional ownership. Similar statistics are true for the second largest owner, Susquehanna International Group, Llp, which owns 9,335,303 shares of the stock are valued at $289.77 million. The third largest holder is Vanguard Group Inc, which currently holds $259.65 million worth of this stock and that ownership represents nearly 7.36% of its market capitalization. BTU: $31.01 +1.21, +4.06%, vol. 465k / Yield: 1.68%, PER: 6.87 (29.08 - 47.84) USO: $11.95 +0.07, +0.59%, vol.13.1M / Yield: N/A..., PER: N/A ($9.23 - 16.24) OIL-: $17.30 - 0.11, - 0.63%, vol.4.12M / Yield: 1.73%, PER: N/A (13.13 - 29.87) Arch $90.86 - 0.85, - 0.93%, vol. 215k / Yield: 1.98%, PER: 5.92 (75.09-102.61) CLD : $0.541 - .039, - 6.64%, vol. 5.1M / Yield: N/A..., PER: N/A (0.255 - $4.10) Peabody Energy's (BTU) Q4 Earnings & Revenues Beat Estimates Feb. 7, 2019 at 9:06 a.m. ET on Zacks.com

RATIOS CLD vs. BTU, USO ... since 10/1/18 : 11/1/18 / Last: $0.54 / BTU-$00.00 (r-00%) , USO-$00.00 Ratio: CLD-toBTU Ratio: BTU-toUSO ==

CLD / Cloud Peak ... 1-year : 3mo / Last: $0.54 Cloud Peak Energy Provides Update on Strategic Alternatives Review Cloud Peak Energy Inc. (NYSE: CLD) (the “Company”), the only pure-play Powder River Basin (“PRB”) coal company, today announced that it has retained Centerview Partners LLC as its investment banker, Vinson & Elkins LLP as its legal advisor, and FTI Consulting, Inc. as its financial advisor to assist the Company and its Board of Directors in the Company’s review of capital structure and restructuring alternatives. During this review process, the Company’s mines will continue normal operations, safely and efficiently meeting our customer commitments. As disclosed on November 13, 2018, the Company’s Board, working together with its management team and legal and financial advisors, commenced a review of strategic alternatives, including a potential sale of the Company, and previously engaged J.P. Morgan Securities LLC as its financial advisor and Allen & Overy LLP as legal counsel in connection with exploring sale opportunities. About Cloud Peak Energy® Cloud Peak Energy Inc. (NYSE:CLD) is headquartered in Wyoming and is the only pure-play Powder River Basin coal company. As one of the safest coal producers in the nation, Cloud Peak Energy mines low sulfur, subbituminous coal and provides logistics supply services. The Company owns and operates three surface coal mines in the PRB, the lowest cost major coal producing region in the nation. The Antelope and Cordero Rojo mines are located in Wyoming and the Spring Creek Mine is located in Montana. In 2017, Cloud Peak Energy sold approximately 58 million tons from its three mines to customers located throughout the U.S. and around the world. Cloud Peak Energy also owns rights to substantial undeveloped coal and complementary surface assets in the Northern PRB, further building the Company’s long-term position to serve Asian export and domestic customers.

"how is the correlation with First Majestic AG? Recently, STILL GOOD = chart

Has the Short-covering started? MUX is starting to behave better MUX: $1.99 + $0.07, +2.65% on 2.7Million shares, on a day when GDXJ was - 2.01% Ratio: MUX -to-GDXJ Bottomed at 5.33%. Could it run up to 7.5% or so... maybe higher. If GDXJ stays at $33.72, then that would be: $2.52. MUX may need some good news to get there.

USO-etc / The comparison chart of energy sector - incl. BTU BTU / Peabody Coal ... all data : ARCH / Arch Coal ... update : CLD / Cloud Peak Energy ... update : xx : 1yr / 10d - Last: $0.54 Alpha Natural Resources: In November, 2018 the company was acquired by Contura Energy. =

US Coal Producers BTU / Peabody Coal vs. USO, OilB, OIH ... fr. 1/2017 : 1/2018 : 11/1/2018 : 10d: BTU ($31.01) / USO ($11.95) = r-2.59 Top4? : CLD... BTU, ARCH, CCR / Consol.Coal ... update : ARLP / Alliance Holdings -etc. ... update : Sym. Last-$ : chg. : + Pct. : Volume / Pr/BV : EV/eb: Yield : PE-R: 12mo-Range : BTU: $31.01 +1.21 : +4.06% : 465 k / r0.00 : r10.0 : 1.68% : 6.87 (29.08 - 47.84) USO: $11.95 +0.07 : +0.59% : 13.1M / r0.00 : r10.0 : N/A... : N/A ($9.23 - 16.24) OIL- : $17.30 - 0.11 : - 0.63% : 4.12M / r0.00 : r10.0 : 1.73% : N/A (13.13 - 29.87) Arch: $90.86 - 0.85 : - 0.93% : 215 k / r0.00 : r10.0 : 1.98% : 5.92 (75.09-102.61) CLD : $0.541 - .039 : - 6.64% : 5.13M / r0.00 : r10.0 : N/A...: N/A (0.255 - $4.10) Arlp: $19.05 +0.09 : +0.47% : 265 k / r0.00 : r10.0 : 11.1% : 6.94 (15,55 - 20.99) Ratio: BTU (Peabody Coal) -to WTI Crude/ Key Support at 52%, and 2.50 against USO Who are some of Peabody Energy's key competitors? Some companies that are related to Peabody Energy include Yanzhou Coal Mining (YZCAY), Alliance Resource Partners (ARLP), Arch Coal (ARCH), Contura Energy (CNTE), Natural Resource Partners (NRP), Cloud Peak Energy (CLD), Rhino Resource Partners (RHNO), Alliance Holdings GP (AHGP), Puda Coal (PUDA), Westmoreland Coal (WLB) and Westmoreland Resource Partners (WMLP). == Rank Company Percent of total production 1 Peabody Energy / BTU 19.0% 2 Arch Coal 13.6% 3 Cloud Peak Energy 8.6% 4 Alpha Natural Resources 8.0%

GCM Shareholders loved the Surprise News from Venezuela : GCM.t ... update : Top 5 : chart Gcm.t : $4.42 +0.34, +8.33% (Gdxj): 34.34 +1.39, +4.22% : for reference (Gld): 126.70 +1.90, +1.52% : for reference  Gran Colombia plans to restart Venezuela mining project Gran Colombia Gold Corp. sees opportunity in the evolving changes in Venezuela to recover and develop its gold exploration assets that were nationalized in 2011, adding to its pipeline of Latin America-based projects which could fuel the company's mid- to long-term growth objectives. Gran Colombia recognizes Juan Guaido as the legitimate interim President of Venezuela and has communicated to its government the company's firm intention to restart its mining project in Venezuela as soon as circumstances allow. For the purposes of holding, developing and financing its Venezuelan assets and carrying out its Venezuelan investment strategy, Gran Colombia intends to spin off such assets into a separate listed special purpose vehicle. Through the spinoff, Gran Colombia will retain a major stake in the new company while leveraging the capital markets to provide the financing required for exploration and development of the mining assets. Serafino Iacono, executive co-chairman of Gran Colombia, stated: "We are incredibly excited with the future prospects of Venezuela and are eager to be a partner in the reconstruction of the country... . . . Prior to nationalization of the gold industry in 2011, Medoro Resources Ltd. (which merged into Gran Colombia in mid-2011) was the legal owner of the Increible 4A and 4B gold mining property in El Callao, state of Bolivar, an area in which close to $110-million (U.S.) had previously been invested. Exploration for gold in Bolivar state dates back to before Venezuelan independence in 1811 and most likely prior to the Spanish occupation. The El Callao mining district itself is historically the most prolific gold producing region in Venezuela with a recorded output of six million ounces since 1870. Through its exploration work, Medoro had outlined a National Instrument 43-101 compliant mineral resource estimate with 950,000 ounces of gold in the measured and indicated category and a further 90,000 ounces of gold in the inferred category.

A "WALL of Resistance" near 25 cents - Some think it will be broken next week... Only going up from here, says Wonder1stock, Yes there is a wall at .245, but I don't see this as any real issue. I feel there is just some consolidation going on after a nice run up last week. And this happened on no news. We have 3 sets of nice news coming shortly, some long drills on Fenelon, the 5 drills from Dec. on Beschefer, and of course, the final tally from the last 10,000 tones of the bulk sample. By their own admission this last part of the sample is the highest grade of all of it, so the average of the sample surely will be higher than the 17 g/t they already have, which Eric Sprott pointed out matches the grade of the currently #2 producer in the world. It ran up nicely an is holding on to those gains, again on no news. So I believe that it is only going to go up from here, minus the usually breaks and profit taking stops along the way. When the news starts to flow again soon, there will be some nice moves up in my opinion. GLTA - Jefe de Oro / 2 / Timing of News releases News usually Tue or Wed . Not due news until couple of weeks but surprise good news is always welcome Read more at https://stockhouse.com/companies/bullboard#F4llmXYbmHzmkDA4.99

Beacon Tower(s) and Avida Tower San Lorenzo From Kroma Tower, next to City Gate

By the way, I added a "very useful" holding of Silver / SLV calls to my current TOP 5 - see charts: 5x WM.t : 0.245 UNCH, +0.00% : disappointing, still digesting recent up moves maybe Gcm.t : $4.07 +0.07, +1.75% GZZ.v : $0.37 +.025, +7.25% (rzz.v) : 12.90 +0.24, +1.90% Mux.t : 1.875 +.085, +4.75% SLV- : $14.83 +0.18, +1.23% (Sil-) : $26.72 +0.27, +1.00% (Gdxj): 32.84 +0.51, +1.58% (Gld): 124.85 +0.79, +0.63% Nice to see MUX getting a bid, at last ! - last $1.87. Close Over $1.95-2.00 will be a breakout of sorts

NEWS x x

Updating prices: a Rising asset backing for GZZ shares Share : Last.Pr: change: Sh.OS : Mkt.Cap.: MCp.chg: RZZ.v : $12.66 +$0.32 : 12.500M: $158.3M: +$4.00M Holds-: ----------> -----------> 5.605M : $70.96M: +$1.79M GZZ.v : $0.345 -0.005 : 133.91M : $46.20M: - $0.67M R-val. : ----------> -----------> ------------> 153.6 % : - 37.4% : GZZ's holding in RZZ shares is now over 150% of its own Market Cap. Ratio: RZZ/GZZ: $12.66 / 34.5 cents : 36.7x !. 100% backed near 24x The TAIL (RZZ) still wags the Dog (GZZ) posted February 04, 2019 02:23 pm by cigarbutts GZZ has the control position over RZZ, about 5.605M shares worth $63.89M at $11.40 Can per share. GZZ has 133.91m shares outstanding at $.32Can is $42.851M Market Cap. Still the much ...read more THE COMPLAINTS will Get Louder ! (Like THIS one): We have sat here basically doing nothing for 3 years while WAITING for the CASH FLOWS of Malartic Royalty to finally start to pay off. He will not discuss why he has RZZ buyback a small about of their shares in the open market, at a higher price than if he were to buy RZZ shares thru the proxy shares GZZ, even when he has a GZZ director Glenn Mullan sitting on the RZZ Board. Here is the simple math to justify why RZZ should use its cash to buy GZZ stock in the open market instead of RZZ stock. Because it trades at an even greater discount to FMV than whatever RZZ trades at! Assuming that Ian Ball thinks that RZZ trades at a discount to FMV thus a good use of company cash is to buyback these shares in the open market. GZZ has 133,918,577 shares out at last count. At .29C Can that is $38.84M market value. GZZ has a few other insignificant assets in cash, royalties, and other company shares and option/promote/buy-in agreements on leased land. Maybe worth a few $M. They have NO liabilities of any note. GZZ does OWN 5,605,246 shares of RZZ, at $10.60 per share that is worth $59.41M Can. So, IAN why buy RZZ stock in the open market when you can buy GZZ stock which holds almost 50% of RZZ shares in the open market at a valuation discount of about 35% off? We as shareholders PAY you two people good $$ to maximize shareholder value. GZZ has a few $M in some other assets and NO other significant liabilities. Read more at https://stockhouse.com/companies/bullboard#1Zjps1Iimv1fwoqG.99

Wow! Seems like I cannot dodge every bullet ! NGD down - 26% on Earnings, on truly huge volume NGD / Newgold ... update / Last: $0.92 - $0.32, - 25.8%, vol. 21.54 Million My "hedge" was not sufficient - since a drop of $0.00, cannot be covered by premium of $0.25 collected on $1.50 calls Compare-- : Wed.cl : Thu.cl. : chg. NGD stock : Feb.$0.50C : Jan.$1.50C :

EV/Eb & D/Eb Senior E&Ps / Integrateds----- : $-Last : Mkcap: EV/eb: EV/D: Pr/BV : Can.Nat'l Res.---CNQ T $35.57: $35.45: $42.6b: 5.55 : 0.00 : r1.29 Encana------------- ECA T $ 7.01 : $08.50: $8.10b: 6.41 : 0.00 : r1.25 Suncor Energy- SU- T $43.38 : $42.86: $67.7b: 6.59 : 0.00 : r1.54 CHK--------US$-- CHK N $ 7.01 : $02.45: $3.96b: 6.68 : 0.00 : r N/A ===========

Watching RZZ to see if it will Blow-through Resistance ... chart: gzz-rzz : Meantime... GZZ.v = was 400,000 bid at 34 cents posted February 11, 2019 02:36 pm by arh0070 Sure looks like something is cooking .The length of time the gzz has been trading at such a huge discount to net asset value has been extraordinary . rate and reply

TPRff (GCM in US$) to MUX ratio - May go a bit higher - above 180%, >190%?

Gold has broken the downtrend & Resistance at $1300 / Might SIL (silver share etf) be next to breakout? GLD (gold etf) versus SIL ... update : $123.37, $26.13 Ratio: $26.13 / $123.37 = 21.2 ==

Ratio: $26.13 / $123.37 = 21.2% ==

Ratio: $26.13 / $123.37 = 21.2 ==

Chemtrade loses $131.51M from 2018 continuing ops 2-13-2019 Revenue from continuing operations for the fourth quarter of 2018 was $390.8-million, which was $4.1-million higher than the fourth quarter of 2017, largely due to higher revenues in the water solutions and specialty products (WSSC) segment. Net loss from continuing operations for the fourth quarter of 2018 was $97.2-million, compared with net earnings from continuing operations of $45.5-million in 2017, which included a tax recovery of $61.5-million compared with $10.7-million in 2018. During the fourth quarter of 2018, a goodwill impairment of $90.0-million related to the water products business was recorded. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) from continuing operations (1) for the fourth quarter of 2018 was $65.0-million compared with $61.5-million in the fourth quarter of 2017. The increase in adjusted EBITDA is mainly attributable to lower corporate costs, including lower incentive compensation accruals. Cash flows from operating activities were $79.9-million compared with $62.2-million during the fourth quarter of 2017. Adjusted cash flows from operating activities from continuing operations (1) were $48.7-million compared with $41.4-million generated during the fourth quarter of 2017. Distributable cash after maintenance capital expenditures from continuing operations (1) for the fourth quarter of 2018 was $17.3-million or 19 cents per unit compared with $6.7-million or seven cents per unit in 2017. . . . Chemtrade's president and chief executive officer, Mark Davis, said: "Our results for 2018 were disappointing and reflect the challenges we faced during the year. We took action on most of these issues, which will drive improvements in 2019 and future years. It's clear that improved execution by Chemtrade and our suppliers will improve results and remains our key focus." In the fourth quarter of 2018, the sulphur products and performance chemicals (SPPC) segment generated revenue of $129.1-million, essentially the same as the $129.0-million generated in 2017. However, adjusted EBITDA for the quarter was $17.3-million, which was $7.1-million lower than 2017. From a revenue perspective, higher prices for merchant sulphuric acid helped to offset the impact of lower volumes due to reduced availability of merchant sulphuric acid supply. The decrease in adjusted EBITDA was driven by several factors. From a merchant acid perspective, margins were flat despite the revenue increase due to lower volume, contractual sharing some of the price increases with suppliers, and higher raw material and freight costs. Adjusted EBITDA was negatively affected by unplanned downtime at a few customers' sites and an extended maintenance outage at a regen customer. Results were also negatively affected by an extended outage at one of Chemtrade's large regen plants, which resulted in higher costs to outsource the processing of a customer's product. The WSSC segment reported fourth quarter revenue of $102.4-million compared with $95.2-million in 2017. Adjusted EBITDA was $11.9-million compared with $15.0-million generated in 2017. The increased revenue was mainly due to higher volumes and selling prices of water products. However, despite increasing prices, the rising raw materials costs continue to squeeze margins. Margins are expected to improve as contracts are renewed at prices reflecting the higher raw material costs. During the quarter, two specialty chemicals customers (for potassium chloride (KCl) and phosphorus pentasulphide (P2S5)) significantly reduced their purchases. A return to historic buying levels is expected once the customers' inventory levels are normalized, although in the case of KCl this may take over one year. Therefore, additional sales opportunities are being actively pursued. Until recently, this business's facility was operating at full capacity. The electrochemicals (EC) segment reported revenue of $159.3-million and adjusted EBITDA of $46.2-million for the fourth quarter, both of which were close to levels achieved in 2017. Lower caustic prices were offset by higher hydrochloric (HCl) acid prices. However, a sudden downturn in demand for HCl late in the second half of the quarter led to lower production of chlor-alkali. Although there has been some volatility in caustic soda prices recently, the long-term forecast for caustic soda pricing remains favourable. / 2 / From Feb 8th: Globe says Chemtrade unit price seen recovering

CNQ vs. Oil (USO) & Natgas (NGAS) : Compare: 5yrs : 2yr / Other-5yr: ==

Whitecap Res. WCP TSX AP $ 4.57 $ 8.00 BUY 7% 82% 40% 0.9x 1.5x 0.8x 1.4x 0.6x 1.0x WCP.t ... 5yr-Log : 1 yr : Last: $4.51 +0.20, +4.64% (12mo Range: $3.80 to 10.355 ) : 1 yr : $4.51 (12mo Range: $3.80 to 10.355 ) ==

BIG 27% DROP in MDR! - very happy to have exited my MDR calls with a nice profit McDermott expects $168M Q4 charge on Cameron LNG project; shares -21% Seeking Alpha·23 hours ago McDermott (NYSE:MDR) -21.7% pre-market after saying it expects to take a $168M charge in Q4 after assessing the Cameron LNG project it is developing in a 50-50 joint venture with Chiyoda Corp. MDR says the reassessment, which it blames on unfavorable labor productivity and increases in subcontract, commissioning and construction management costs, will impact its statements of operations for the quarter and year ended Dec. 31, 2018. MDR / McDermott ... 6-mo : Last : $6.82 -$2.48, -26.67% (6.81-7.55) on 27.52million shares! == This drop shows why I SOLD PUTS on OIH (the oil sector etf), which closed at $17.05 +0.03. Rather than on an individual share

Canadian Oil & Gas - w/ 1yr charts Senior E&Ps / Integrateds Can.Nat'l Res. CNQ TSX DF $35.57 $45.00 BUY 4% 30% 32% 1.3x 1.6x 1.4x 1.8x 0.9x 1.2x 8.6x 6.6x 9.1x 8.6x 6.7x 9.3x 8.6x 6.6x 7.1x CenovusEnergy CVE TSX DF $10.11 $12.00 Hold 2% 21% 39% 1.2x 1.5x 1.6x 1.9x 0.9x 1.1x 5.9x 8.5x 6.0x 5.7x 5.4x 6.0x 5.9x 8.5x 4.8x Encana----US$-. ECA nyse DF $ 7.01 $ 9.00 BUY 1% 29% 37% n.a. n.a. 15.x 19.x 0.8x 1.0x 8.9x 5.9x 5.0x 9.7x 4.8x 5.7x 8.9x 5.9x 4.0x Husky Energy -- HSE TSX DF $15.64 $17.00 Hold 2% 11% 15% 1.0x 1.1x 1.1x 1.2x 0.9x 1.0x 5.2x 4.2x 5.4x 5.2x 4.2x 5.4x 5.2x 4.2x 4.3x Imperial Oil Ltd. IMO TSX DF $36.39 $40.00 Hold 2% 12% 13% 1.0x 1.1x 0.9x 1.0x 0.9x 1.0x 11.x 7.3x 11.x 11.x 7.3x 11.x 11.x 7.3x 6.5x Suncor Energy-- SU- TSX DF $43.38 $55.00 BUY 3% 30% 19% 1.0x 1.3x 1.0x 1.2x 0.9x 1.1x 9.1x 7.0x 7.5x 9.1x 7.0x 7.5x 9.1x 7.0x 6.5x --------------------------------------Avg Seniors Midcap avg 2% 22% 26% 1.1x 1.3x 3.5x 4.4x 0.9x 1.1x 8.1x 6.6x 7.3x 8.2x 5.9x 7.5x 8.1x 6.6x 5.6x Midcaps (>50 mboe/d) Baytex Energy- BTE TSX DF $ 2.17 $ 4.50 BUY 0% 107% 63% 6.0x n.a. n.a. n.a. 0.5x 1.0x 6.7x 5.4x 4.8x 6.9x 4.8x 5.3x 6.7x 5.8x 3.8x Birchcliff Egy. -- BIR TSX DF $ 3.16 $ 4.25 BUY 3% 38% 42% 1.8x 2.4x 1.8x 2.4x 0.8x 1.1x 4.3x 4.4x 4.5x 4.7x 4.7x 7.0x 4.3x 4.4x 3.5x CrescentPtEgy CPG TSX AP $ 3.70 $ 7.00 SpB 10% 99% 67% 0.4x 0.7x 0.3x 0.7x 0.5x 1.0x 3.2x 3.6x 3.9x 3.3x 3.1x 4.6x 3.2x 3.6x 3.4x Enerplus Corp. ERF TSX DF $11.29 $16.00 BUY 1% 43% 11% 2.0x 2.8x 2.1x 3.0x 0.7x 1.0x 5.7x 3.9x 4.4x 5.6x 3.8x 4.8x 5.7x 4.0x 4.5x Freehold Roy'l. FRU TSX DF $ 8.92 $11.50 BUY 7% 36% 7% 1.0x 1.3x 1.0x 1.3x 0.8x 1.0x 9.0x 9.1x 12.0x 9.0x 9.1x 12.0x 9.0x 9.1x 9.9x Peyto Expl.&D. PEY TSX AP $ 6.84 $12.00 BUY 11% 86% 51% 1.5x 2.6x n.a. n.a. 0.9x 1.5x 3.7x 4.6x 5.2x 4.1x 7.0x 6.0x 3.7x 4.6x 5.3x PrairieSkyRoyl PSK TSX DF $19.35 $23.00 BUY 4% 23% 0% 1.2x 1.5x 1.2x 1.5x 0.8x 1.0x 15.4x 20x 20x 15.4x 20.1x 20.1x 15.4x 20x 17.7x Vermilion Egy. VET TSX DF $32.29 $43.00 BUY 8% 42% 28% 1.3x 1.8x 1.3x 1.7x 0.8x 1.0x 9.6x 7.8x 6.9x 9.7x 6.8x 6.9x 9.6x 7.7x 6.3x Whitecap Res. WCP TSX AP $ 4.57 $ 8.00 BUY 7% 82% 40% 0.9x 1.5x 0.8x 1.4x 0.6x 1.0x 5.9x 4.2x 5.3x 5.7x 4.0x 5.7x 5.9x 4.2x 4.8x ---------------------------Avg >50 mboe/d Midcap avg 6% 71% 43% 2.0x 2.0x 1.3x 1.8x 0.7x 1.1x 5.6x 4.8x 5.0x 5.7x 4.9x 5.8x 5.6x 4.9x 4.5x === > Canaccord's Energy Weekly