Another day, another drubbingImagine the poor sod that bought CPG when oil was at $26. He must have been thinking that he would make a fortune when oil doubled to $52. We hit $74, and now $67, and we are still 30% BELOW where CPG was when oil was at $26.
In the meantime, we have a company run by clowns. The latest example of the incompetence was when they announced the sale of 5,000 bpd of production, yet said that capex would remain the same. So we basically lose 5,000 a day yet costs remain the same? How does that work?
Of course, the morons running the company don’t care because they get paid millions regardless of how much money the company is making or how the stock is performing.
Exhibit A: Craig, the new CEO, who has been hiding under his desk since he was anointed by King Bannister.