CC overthe theme during this call was how difficult the environment in Alberta is, which makes much more sense than the "yeah we are cutting the distribution out of strength" mantra that some may have been believing.
Got a sense, from management, there was a real dislike towards cutting their distribution, which I appreciated hearing. The "we are cutting distributions so we can close the gap to NAV and buyback shares" sales pitch left me feeling there was more to the story and management was selling us a narrative that didn't make sense. This morning a much more complete picture has been presented.
shareprice could go up, could go down. I suspect d.un, over the longer term, will mostly move with the price of oil. dont know what the ceiling is for the shareprice. probably lower than it would have been if oil was stronger and the distribution remained intact (obviously), but the downside is also probably (I hope) not as low as well.
anyone else have thoughts regarding the CC?