RE:RE:RE:RE:RE:Stop the bleedingI don't see the desire to sell the company.
Colborne's stated objective is to build the company at 5% growth while paying a sustainable dividend built on low declines and consequent low capex needed for replacement. In addition he wanted to grow the company through acquisition of assets that could be tooled to support the low decline model. So far he has delivered as the dividend has increased 80% from his initially planned 30 cents to 54 cents. Impressive in 9 months. And during that time it appears that the payout ratio has decreased.
In the latest news release the company mentioned better than planned drilling results. It will be interesting to see what this means in combination with the low CDN dollar.
I have tried to subscribe to the last two new issues only to be shut out. It appears that institutional accounts are getting all available.
Friday was an opportunity to increase below the new issue price.
terr