Shareholder value Estevan,
I don't think the management has any control over the direction of the company. They are operators and they have so far executed their plan. Yes the well results came back more sour and not as prolific as western lands, but those wells are still very profitable. I am pretty confident the dividend and SIB announcement came from the Board and ops team was probably taken off guard with change in growth strategy, as evident by lack of hedging. (My speculation)
GMT and Riverstone are in no hurry to give this company away and are willing to wait a few quarters for the sector to turnaround. They have been invested well south of 1$ and have the luxury of time.
Inventory draws should support a higher share price across the Canadian O&G sector, hopefully giving adequate cash flow for NCIB ; along with good delineation results during August quarterly report should set us off to the races. Hope I am right here.. unfortunately hope is not a strategy.
At this rate due to opportunity costs an eventual buy out has to be near the peak of last June and I don't see that happening for a while.
thoughts?