RE:RE:Absolutely Pathetic 4th Quarter (Year End) Most pathetic approach to running a business i have ever seen, you have an accountant masqurading as a CFO.
They have fixed the dividend and the only way the amount of dividends will increase is with production increases. ($50 WTI, $2.50 Aeco) 280 million a year.
All the extra cash goes to the balance sheet, debt repurchases, and share buybacks, and Pet Project capex.
The have fixed divided payouts as long as production remains flat the amount paid in dividends will be 280 million dollars.
Whats their plan for production growth, while thats their dividend growth, they say to forecast 5% a year, but not this year production will be flat and the review will be annual.
While they can loose a billion dollars in Risk management and not say one word about it at the 4th quater year end. They don't talk about all the full cycle capex expenditures.
However they talked about the dividend like it was a concern however with a billion dollars they have flushed, they never said a word.
The entire management team should be fired, management discount on the stock is 7 dollars.
IMHO