CPG reputedly driving its own rigs to now deliver oil VN news June 29 , 2018: CPG driving its own oil rigs to circumvent lack of pipeline capacity , hedging everywhere to protect investors
In an effort to boost the share price senior executives, some board members and shareholders were spotted driving oil trucks to deliver oil directly to clients in Wyoming from CPG production facilities.
'Its symbolic perhaps but our oil must be sold, our hedging program is killing us and we must after all pay the rent'' sadly and excitedly blurted out one participant with an upsetting tongue in cheek demeanor.
But not all things were as rosy as predircted, in fact local police not advised of the convoy issued contraventions for some unlicensed trucks that had spray paint on rigs announcing 'CPG is king'.
An uncharacterisrtic outburst from disgruntled rig drivers who were shouting ' we hedge like all the others so give me my .07 cents' referring to the impressive price increase today'. Calls to the Short CPG Organisation were not responded to but one shorter 'off the record' kept repeating its crazy to short a stock while oil price is at $74 buddied with a stock price lower than when oil was at $30 'unless there is something going on'
Various experts, including the legendary Vinnie explained that 'if they are not shorting the stock, and transportation capacity affects all producers more or less equally, he would be tempted to prudently assert that maybe the hedging program that caused 225 million of loss in one quarter while prices are way above production cost, is maybe a suspect one could consider worth interviewing'.
We contacted many traders to this effect who energetically defended the hedging program but one trading floor insider confided 'no one understands that stuff unless you really study it, that's what analysts try to figure out all the time, maybe they know'
One truck driver was optimistic that investors would finally ask the right questions and explain the seemingly crazy share price losses in a hyperbull oil market, an answer that would finally shed more light on exactly where were the losses in Q1
Police also issued arrest warrants for anyone driving a rig without a permit so its probably best to let the company produce and just store the oil in man made lakes until a pipeline is built.
A request to municipal officials for a CPG reservoir permit is in the works. Also, hedging rehabilitation meetings are currently underway in various saskatchewan communities. Finally the mayor of one town officially declared CPG to be the best oil expansion company of the century, nobody can expand as well as CPG and locals wrote poens about the exciting CPG purchasing plans that will make this company the greatest ever imagined. The fact the stock price goes down as oil goes up is nothing but normal hedging they insist and buying more oil land will make CPG truly the KING. The world's worst performing big oil conpany stock price is about to show its balls, all hairy and all.