So we have a company that is considering selling revenue generating assets (pipeline) & pay dividends.
I would suggest there is a very large assumption that oil & gas prices will be considerably better in the future.
This is not the role of a company to make such assumptions.
They obviously didn't see this crunch coming, so why on earth would they think they know that things will get better & not worse.
Virtually every region in the world is looking at or revving up gas production.
Wouldn't the prudent thing to do be suspend dividends & pay down as much debt as possible.
Instead they will be increasing debt!
These guys remind me of politicians where all they care about is the short term & getting re-elected.
STO Price at posting:
$7.90 Sentiment: Sell Disclosure: Held
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