$MR Great execution. $4.5M net profit (adjusted $19.3M) at these prices for NG (75% of total revenue), including hedges should make next quarter and likely next year a blockbuster. Current NG and oil prices are 20% higher and hedges in place for Q4 and first half of next year are around the same as spot price (no loss from derivatives). Back of the napkin calculations give increased revenues (just from price increases) and profit (provided execution is as good) of an additional $30M per quarter relative to Q3. If you take Impairment of unproved properties to their historical averages (quite high in Q3), that should add a couple million to net income. With profit of $35-40M ($1/share) in just Q4, stock price will rocket to $10 easily. Keep that going for 2020 and it will get in the $26/share range where there's a decent resistance level. Of course there are risks, but great execution from management.
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