Lagging behindAs usual, We continue to lag behind CPG, we actually were pretty close the other day but I knew that would'nt last. Dont get me wrong, I'm happy for the CPG investors, they hung in and are seeing some rewards but lately we are contantly behind when it comes to share price increases, today again, at the time of this post we're about .20 cents behind. It may have a lot to do with the WCP recent purchase. While I know in the long term it could be a good investment but they should'nt forget a few years back them ,and a lot of other companies, reinvested and started drilling like crazy then all of a sudden they could'nt move the oil they had. I certainly believe in investing when the time is right however they did promise better retirns to shareholders and quite frankly the last dividend increase came up waaaay short ,in my opinion. I agrree with Eric Nuttal in these are the times when your flush with cash, reward your shareholders FIRST then look at further investents/purcahses. That last move left a bad taste in the mouths of a lot of shareholders as up until now they did what they said they would do. They clearly did not have rewarding the shareholders in mind in this last decision. I like the company, I do have faith for the most part in management but when you say your going to reward shareholders do it, not some to the people with all the risk and the rest for reinvestment. If they woud have at least offered the increase in dividends and perhaps a special dividend Im certain most of us would have bought additional shares, I know I would have. Okay, theres my repetitive rant for the day.
GLTA