RE:RE:RE:Q3 report not as good...dividend in mid 2022 and not nowJay I am not sure what you and other CJ people see in it over Obsidian Energy.
Obsidian has a 347M cap to CJ 756M
Obe Shares Outstandng 74 M (will be going up soon to like 80 on a deal) to CJ 150M.
OBE Q3 funds flow 59.3M to CJ 37.5M
Only thing CJ has better is debt level...like 200M difference between the companies.
But in a 80 Wti and 5 dollar NG price enviro...why are retail investors giving CJ so much creditfor this over OBE.
If commodity prices hold...OBE will narrow the debt gap down very fast....and then look at the market cap differences lol.
OBE will have a 750M market cap if CJ can achieve this valaution at some point in 2022.
You guys think CJ will double it''s market cap in 2022 to 1.5 billion?
Think long and hard about this.
Obe produces more light oil and tons moe ng and is at least 5000 BOE a day bigger and look at the market cap differences...all over a 200M debt difference? in a rising cf enviro. I have no motive. I am curious on the thought process here.
OBE doesnt need to do a share buyback like CJ does.
OBE exploration prospects to Cardinal is like comparing Connor (OBE) to Kyle Turris (Cj)...that would be the difference. CJ just has maintain production type land. Clearwater CJ owns is too small.
All CJ has is the facebook crowd that loves Nutall pumping it on social media but the valuation of CJ is nuts in the context of the other greaat buys out there.
Never thought I would say this BUT i would take baytex over Cj right now. Not an endorsement on BTE by any means.
Baytex is improving alot by the quarter...I will admit that.
Still Gl all and I hope you guys make 7 bucks.
JayBanks wrote:
agoldbloom wrote: Considering all the oil companies out there doubling or tripling dividends, I don't think this will play well tomorrow. I understand the rationale and appreciate the explaination and plan - but oil is up big time and shareholders haven't been given anything. No dividend and no real share buybacks.
I agree, very disappointed with not starting the payout, but I like information, especially since they have laid a specific plan that they can be held to rather than 'we will look at this later' line we have been getting.
If they do not stick to this phase plan they have laid out they should very much be held accountable by us shareholders with no question on letting our votes be known. We have a timeline, concrete numbers that they can be graded on. It seems currently we have been shown little respect in that oil has returned to a very profitable level and we are not recieving a slice of the pie, I'll go hungry longer, but if these numbers are not achieved then leadership should be struck down or we don't respect ourselves.
Apperently, reducing 70 million of bank debt = .50 cents of NAV and they expect to achieve that in less than 3 quarters.
70 million divided by 9 = 7.777 million per month divided by 2 = 3.888 divided again by 150.4 milllion = 0.0258 - This means that the dividend should ATLEAST be starting at 2.5-3 cents per month in a $70/barrel market
Should we hold $80/barrel it looks like the projection leads to $10 million per month divided by 2 = 5 divided by 150.4 = 0.033 or 3-4 cents per month
That's what I get out of this release... I'll hang tight and see if they achieve these goals, if not, we go old English style and decapitate them first chance we get at a vote.