RE:DividendThe debt is 0.2 cash flow. Bank debt is down from $142M to $42M and Q4 is yet to go. You make it sound like there is a debt problem and they have one of the best debt profile compared to peers. ARO liability very low ad well and aggressive budgeted for with room to lower if required even 2023 Capex is high to include a growth wedge of about 3%.
Then there is over 3M shares bought back to increase the underlying value. At $80 oil they will have $37M to go towards debt which will be lower after Q4. This is after paying for a higher than required ARO budget and Capex that have a 3% growth. At $85 oil, they will have $72M cash after divy, Capex, Aro.
If this prove performance was just CJ i would say something but look at MEG, SGY, CVE, WCP, BTE, ATH to name a few all are off their 52 week high and has really not provided capital gains in the last few months as well.