RE:Why isn't this moving up today......?Yes it is terrible. Shareholders pre deal have to take on this 40% dilution. Major funds are pissed off about this dilution. I mean wouldnt you be pissed off if you owned CJ at $9.35 on the last financing May 2016 and boom 1 year later the company issues the shares for 5.50. I had to average down and luckily has some funds and low shre count to do so.
The promises the the RI from Apache will be sold to offset it by 130 million need to be done. The company is working hard to sell them, imagine this will be done after summer but oil needs to cooperate for a decent deal. Currently the sediment of the deal is over dilution and over paying
Is the divi in question. Well depends on the results of the wells. Cardinal was a poor operator for Q1 getting a limited amount of wells completed. This is not an acceptable excuse. yet another blackmark.
This is a totally different company now and the operations need to start speaking growth. THat being said this is a shw me story before any big wigs start to buy in. Good value here if they can operate in exisiting and new assets beyond Q1 17.
good luck and lets hope for a great operations update soon!