Q: Kindly comment on the CJ operational update announced this morning. Could that improve the stagnant SP of this name? Thanks.
5i Research Answer:
CJ discussed some new wells coming onstream and the company's first steam assisted gravity drainage pad. But the news is not overly material and the stock has not moved. We would not expect this news to move the stock on its own. CJ did announce its March dividend. Many are expecting a cut so this was some relief for holders. The stock remains extremely cheap but growth is slowing based on consensus estimates.