RE:RE:Eric Nuttall Says Lower Demand Fears Driving Lower Oil PriceNo you're correct but he isn't.
He has always stated that CJ is too small for him and his fund to own.
He states that the SAGD project doesn't come online until 2027 which is wrong.
Reford actually ramps up in 2025 and is producing in 2026.
The second phase Kelfield ramps up in 2026 and produces in 2027.
Reford's added production should go a long way towards paying for Kelfield so that should really be adding to FFF at that time.
In the meantime CJ just reduced debt last quarter while paying the dividend and still has the extended credit facility to lean on if they need to for what is now a year and a quarter until Reford starts adding to production.
His mistaken belief of when Reford is due to ramp up may be why he thinks the dividend isn't safe but like that belief he is mistaken.
GLTY and all
Pandora wrote: I believe Eric Nuttall also said the CJ dividend is not safe and he would not be an owner of CJ.
That's from memory - so I stand to be corrected on that.