RE:RE:Baystreetwolf's blog
4thefunofit wrote: Thanks for pointing that out JohnnyDoe, I didn't know about that distinction. I've wondered why the avg sell price in the recent financials seemed to be short of the daily WTI rates. I'll keep an eye on that post you recommended.
Also keep in mind WTI = West Texas Intermediate which is a grade of oil, but I'm pretty positive is not the grade CJ produces, I don't believe it's the exact WCS (Western Canadian Select) either, but it might be, I believe it's kind of between the 2 grades more to the light tho. The point being they don't fully get WTI pricing, it's a couple dollars discounted per barrel, but in guidance they and most others use WTI as a benchmark. That also contributes to why the average price in statements will likely come in below even if your time period of calculation was exact.
Don't alter your math estimation work as that's what the company goes off unofficially, just keep that in the back of your mind in why it's hard to pin down until they release official numbers, but your in the ballpark which is the main idea we are all looking for, thank you for your work.
As far as the dividend, I believe they will be 'aggressively cautious' in that it's gonna be a high payout, but it's going to be something thier medium term guidance suggest they can maintain even if the price dips for several months, 6-8 cents seems appropriate, I think most of us are banking on splitting the difference at 7, I'm sure we will all be happy starting at 6 and over the moon at 8+.