Unidentified Analyst: Okay. And I think you’ve pretty much answered this, but just for how we should think about the, say, the 2024 outlook, there’s some tremendous opportunities. It sounds like you’re really building for like on a 3-, 4-year build-out but the — is it as simple as if you get in Indiana and maybe the surrounding power areas get it finally get a hot summer following the second warm winter in a row? Is that going to just be like it’s going to springboard nat gas, coal and your power markets considerably, correct? I mean is it that simple?
Brent Bilsland: Yes. I mean power market is going to move so quick. I mean we can see spot prices one day be $20 a megawatt hour and 3 days later, they’re $250. I mean those are weather-driven events. We’re trying to get to a contracted sales book, and we’re having a lot of success to do that and doing so. And we have a huge amount of business out for bid as we speak. But we’ll see how successful we are in securing those contracts. But I think we have multiple customers, multiple avenues, particularly with the MOU now to add to that. And what excites us is we see Hallador and its traditional margins that it made in coal. And then we see what — if you look at our sales table, in the 10-K when it gets published in the next day or so.
Look at the pricing for power, particularly when you get out in the ‘ 26,’ 27, ‘ 28, range, our margins are dramatically higher, and we think we can continue to have success contracting for power and capacity at higher margins. We haven’t gotten our sales book filled out as fast as I would have liked, but I think our team has done a terrific job. And the way we’re going about it, and you have to find willing dance partners and they’re showing up. It just takes more time because it’s a very bespoke process and filling that out. And so our earnings are going to be a little episodic depending on weather here for the next handful of quarters, we were — the market changed so dramatically from our earnings call in November, what we saw the power curve there for December, January, February versus what it actually ended up being was completely a different number just based on the fact that we had what some people are calling the warmest winter and history, right?
We don’t know what that means for the spring and the summer the tunnel. If it’s hot, one thing about it, the windmills MISO has a very high percentage of wind mills. It has very little solar panels that have been built very little. Like half of their generation. But the wind tends not to blow on hot days. So we’re actually seeing — theoretically, we think we’ll see a peak in the summertime versus where we used to see it in the wintertime. So that’s what we’re looking at. We’re in contract discussions with customers to see how soon we can start pulling some of these higher prices forward. And so that’s what our team will be working on this summer. And we’ll just have to see how it plays out. Hopefully, we see some warm weather, that would certainly be helpful.
But long term, we’re just extremely excited because we think the earnings potential of the company has dramatically improved. And we feel that our future sales book is starting to demonstrate that to the public. But I don’t know from a shareholder perspective, will investors be focused on this quarter and next? Or will they be focused on what we’re building that’s later this year and early into next year and beyond. So stay tuned.
Unidentified Analyst: Yes. To say your basically spring loaded is seeming to be an understatement with the things you have in place here. So good luck on that. And appreciate it.
Operator: Thank you. And we have no further questions in the queue. So I’d now like to hand back to Brent Bilsland for some closing remarks.
Brent Bilsland: I want to thank everyone for taking the time today to tune into our call and your interest in Hallador Energy. We greatly appreciate it. Thank you.
Operator: This concludes today’s call. Thank you all for joining. You may now disconnect your lines.
