RE:RE:RE:STRATEGIC mistake if CJ doubles the dividend, 50% is OK CJ management is doing a good job. Whine about them all you want but they are prudent and fiscally responsible. 1q19 will be good given the oil price and differentials rebound. 2q19 will be excellent as we are starting from a solid base and US drawdowns will continue which will support higher oil prices and keep the differentials where they are now.
No oil company should be growing production in this environment. Wait for takeaway capacity and world demand to support any increases. SA took oil off the market for a reason. Think smart and act accordingly. Money will start to flow into the sector IF oil companies act prudently and stabilize prices. Volatile oil prices scare investors away. In the meantime, enjoy the dividend (which will grow as cash flow allows) and wait for that day. I have averaged down and will patiently wait for investor sentiment to return in 2020/2021.
Oil is going nowhere and is needed for everything we do. This will become evident within the next two years.