Takeout possible I'm no acquisition expert but I think CJ is a prime target. Small producer, low debt, huge div that obscures cash flow picture, production costs seem to be going down, pretty big SAGD project done within a year. More SAGD expansions that will likely start immediately after stage 1 completed. I would think a big heavy oil player would see this as an easy way to expand. That being said, I doubt a takeout offer would come until stage 1 SAGD is completed.
Im locking in for a year to see what happens.