Well, I have added more than once. I take the dividend and wait for the acquisition from a chinese suitor. It may be CNOOC which cancelled its deal in Argentina recently because Argentina is the new Venezuela and nationalizes its resources. However this shows that CNOOC seek to expand thru productive oily land so the 1,5 million acres of Petrobakken could be the next target.
The company grew its production by 30% in 2011 and it will grow it by 15% minimum in 2012 as the Cardium land is being drilled and starts showing the first results. The value of its Cardium land has grown 2-3 times since 2009-early 2010 when the 4 Cardium players were acquired by petrobakken. The severe weather of the first half of 2010 that delayed the expansion on the Cardium land is behind us.