Sell heavy oil assets! Unsurprisingly, Eric reaffirmed that EF accounts for 60% of their production. Why take the risk of potentially holding on to uneconomical assets in a possible $50 environment. If they receive $600-800M, the revolving credit of ~$440M ( variable rate) could be paid off with the remainder deducted towards buyback and special dividend. Stock will pop!
This company is effectively 3 operations: EF, raging river (light Alberta) & heavy oil. All are unrelated and heterogeneous.