Comparing Pipe to Cardinal EnergyI was looking at Cardinal Energy and think that it would be reasonable to compare Pipe to Cardinal from a what Pipe could become in a few years.
Cardinal is averaging 20.6K BOED. Netback of 15.83/Boe. Market cap ~ 263M
Current Cardinal share price is $2.36 but interestingly they are able to pay a dividend of $0.015 a month.
I don't think Cardinal has the same growth plan as Pipe so it isn't fair to expect Pipe to contemplate a dividend right now, but as production growth turns into production maintenance it could be a consideration then (whenever that happens).
Something to ponder anyway while we wait for Pipe to takeoff.