CPG stock still in the slammerSure, we've gone up a few percent in a few days, but WTI has gone up $4 in that timeframe, and the overall markets have gone up a lot too. We're just rising from a very low base. We should be making exaggerated moves now because we're so low, and I'm not seeing that, and it worries me.
What CPG needs to report is some material asset sales ($400 million or more) and they need to put all of that money directly towards debt. Debt needs to be brought down to under $2 billion before they should even think about raising the dividend.
I hope Saxberg doesn't try to increase production heavily again. The market is NOT rewarding that sort of behaviour any more.
I think he gets erect whenever he thinks about growing production. "Yeah, let's see another 10,000 barres, oh yeah baby, just a few more barrels".