RE:Take away from new presentationThere is 0 interest in a strategic disposition acceptable to the board. Forget it. GXE has scattered, mediocre assets that are sufficient to secure a cash flow that sustains a 9% dividend well into the future.
The concern, for management is to increase production enough to offset depletion at a cost per flowing barrel that is accretive. Comprehend the statements in the Presentation for what is not said: no mention of production enhancements such as waterfloods. The production numbers and depletion rates speak for themselves. IMHO, this change in strategy is forced upon management due to the lacklustre gains from the enhancements strategy and to avoid depletion rates eroding production.
Its a smart move that requires asture timing as the switchover necessitates a lull in drilling to plan the new guidance without upsetting the dividend applecart.