SIB incoming?If the stock price remains depressed for much longer as cash quickly piles up, maybe CVE should consider a SIB in addition to the NCIB.
>>>As a result of ongoing consolidations in a number of industries where issuers are selling off assets or as a result of successful operations, some issuers are facing the challenge of having excess cash sitting on their balance sheets with no reasonably priced alternatives for deployment. In those circumstances, an issuer might consider a normal course issuer bid or, where there is sufficient cash to be distributed, a substantial issuer bid. A substantial issuer bid (SIB) is a fair and efficient mechanism for issuers to distribute excess cash to securityholders. A SIB allows issuers to purchase outstanding securities for cancellation in amounts above the levels otherwise permitted under the normal course issuer bid rules.
https://gowlingwlg.com/en/insights-resources/articles/2019/deploying-excess-cash-substantial-issuer-bids/