RE:WouldBuy back shares.
I think that this company has been put somewhat into the penalty box since they have made multiple acquisitions using their shares or currency. It made sense at the time as their share price valuation was relatively high.
However, now it is time to shrink that supply as it trades for a really low multiple for a company of that quality. That would send a strong signal that their first and foremost job is to create value for every single share and not just to grow. Where can you possible deploy capital at a better rate of return than in your own stock trading at 29% of 2P NAV?
We are already at 75,000 boe/d. That is big enough to attract investors of pretty much all size. CPG pursued a strategy of growth at any cost and see what happened to their stock. Respecting your shareholders, acting with them like a partner does pay big dividends eventually.
Regarding CJ, that is a cheap stock that I own but, adding this to WCP makes no sense. WCP is much lower cost production. Maybe that that there are pieces of it that could fit but, not the whole thing.
Cardboard