HE STILL DOESN'T GET IT!!Look at what Scott Saxberg just said today:
Saxberg said he thinks the negative vote on compensation was more of a vote on its share price, which fell nearly 40 per cent in the 12 months before Cation launched its proxy challenge in early April.
1) Ya think so you moron?
2) He seems to disregard the share price and excessive management compensation. He hasn't learned a thing.
He said the share price has been hurt because investors lump Crescent Point in with the rest of the Canadian energy sector, which has been dogged by market access concerns, even though the company has few problems getting its mainly light oil production to market in pipelines.
1) NO, THAT IS NOT IT. CPG has been hurt FAR MORE than other Canadian oil producers. It's relative valuation has SUNK.
2) CPG MISSED cashflow estimates for Q1 because, according to CPG, they "did not foresee the widening differentials". These widening differentials are caused by the lack of market access due to a shortage of pipeline capacity. So which is it Scott, does market access affect you or not? How can you blame it one day and ignore it the next?
3) It is not a coincidence that the stock sold off (yet again) when Cation's nominees were defeated. Look at the daily chart.