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My view on Perpertual is and was that they were a 1 horse player and that was Natgas (obviously). When fracking became a norm and they had not entered into it they were doomed.

It was clear writing on the wall to me. But even I had trouble conceding this and selling early on.

The new abundance and over supply of gas will keep its price down and Perpetual's price.

Their attempts to diversify into oil and fracking have not helped to date and may not going forward. This could improve slowly with time.

I prefer utilities and distributions companies.

Similar for Pengrowth imo.
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