RE:RE:CPG's NCIB program@Backinblack1000: My comments are never intended to be disrespecful. I try to engage in dialouge. I present my views and, whenever possible, I try to substantiate my statements in empirical evidence (e.g., referring to corporate presentations, quarterly earnings statements, and expert commentary).
I based my comments about shorter term assets based on CPG's announcement when they acquired the Duvernay assets from Shell. At current drilling levels they have approximately 10 years of inventory depth.
I am invested in CPG, but it is not a longterm hold for me. I won't be in this stock in five years. Heck, I have cycled in and out of this stock several times already. I take position in O&G companies based on two lines of thinking: 1) how does its valuation compare to other companies in the sector, and, 2) does the company's stock have sufficient liquidity for me to get in and out of it easily.
Being a longterm shareholder of this stock sucks. But investing in equities, especially in this sector, does not come without risk. This is why investors should consider having stop losses in place. Longterm shareholders also need to understand that the market does not care about when you bought in or what your average cost base (ACB) is for your shares. Everyday you hold onto any particular stock is equivalent to you re-investing in that stock on that day's price. I totally understand if your ACB is, say, C$10 on CPG, then having your total investment recoup by 10% when the share price moves up from $5 to $6 doesn't seem significant. But for those who got in CPG in the last year, say, $3, moving from $5 to $6 raises your profits by over 30%.
I feel for longterm shareholders but such is the nature of investing in the market.