Two Concerns With CPG1) Their tendency to dilute their shares with acquisitions of other companies combined with the need to spend CapX to drill all these new assets while paying a generous dividend on each and every new share issued is a pretty risky strategy in my opinion. 2) The maintenance of their dividend is questionable. According to their Q1 2015 earnings results press release dated May 7, "As at April 30, 2015, the Company had hedged 58 percent of its oil production, net of royalty interest, for the remainder of 2015 at a weighted average price of greater than CDN$88.00/bbl and 34 percent for 2016 at a weighted average price of greater than CDN$83.00/bbl." If the price of oil hovers around $60 - $70 per barrel over the next couple of years as these hedges are exhausted, CPG will either have to hedge at a much lower price per barrel or pray that the price of oil goes significantly higher to support their dividend and CapX program.