PBT has had an RLI of 8-9 yrs for the last 10 years. Also the drop in production over the last 10 years is more like about 4% annually for oil and nearly 1-2% for gas, so the actual reserve life is no doubt at least 25 years. This does not even take into consideration the develpment of some acreage that is not yet in development and new, more expensive methods of extraction that are used as oil and gas prices rise.
The stock has dropped sharply in the last two days because the of the Cramer effect: lots of new buyers pushed the price up and then they sold and the price dropped. The unusually high volume and the new tone of the message board proves this. Eventually the short term holders will be gone and the stock will settle back into a steady climb as distributions rise with rising oil and gas prices. The current price with a yield of 9% seems reasonable.