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Veren Inc T.VRN

Alternate Symbol(s):  VRN

Veren Inc. is a Canada-based oil producer with assets in central Alberta and southeast and southwest Saskatchewan. The principal activities of the Company are acquiring, developing and holding interests in petroleum and natural gas properties and assets related thereto through a general partnership and wholly owned subsidiaries. Its core operational areas include Kaybob Duvernay and Alberta Montney, Shaunavon and Viewfield Bakken. Its Kaybob Duvernay is situated in the heart of the condensate rich fairway, Central Alberta, which provides low risk drilling inventory. Its Alberta Montney assets sit adjacent to its Kaybob Duvernay lands, possessing similar resource characteristics including pay thickness and permeability in the volatile oil fairway of the reservoir. Its Shaunavon resource play is located in southwest Saskatchewan. The Viewfield Bakken light oil pool is located in Saskatchewan.


TSX:VRN - Post by User

Comment by CdnOilObserveron Feb 10, 2021 1:49pm
161 Views
Post# 32527133

RE:RE:RE:CPG should never be going down unless it is trading at 10

RE:RE:RE:CPG should never be going down unless it is trading at 10I agree with Anschutz.

I've been an investor in Canadian Energy for over 30 year, and I have a significant position in this company.

CPG did an excellent job in unloading some assets and paying down a significant amount of debt.  Reducing the dividend is beginning an aggressive share buy-back is a great idea.  I think all investors agree with the event of 2020 to cancel the NCIB, and significantly reduce/cancel the dividend to preserve cash.

The company is now a "Show Me" stock.  There has to be signficant movements by this company, (and others in this sector), to win back investors, and entice large institutional investors - those who will hold the company long term and not sell at any pop in the price.

Actions within Management control:
- increase the dividend to 35 or better,
- rapidly reduce the float of shares outstanding - NCIB
- ensure excellent cost control at every level
- they can nibble away at the existing debt

Nuttall is way too optimistic, but I agree with his comments that these companies are still trading way below their pre-covd levels.  At $58.69 WTI this should be a $10.00 stock all day long.
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