I'm new to this board so will apologise in advance if the following has already been commented on in prior posts. My view is that there will be a lot of consolidation of the energy industry in the next 5 to 20 years. CPG will exit this year at over 100,000 per day making it one of the leading candidates for takeover within that time frame. I have to believe that they are very aware of the short to medium term (say up to 2 years) impact of their constant issuance of equity to acquire prime properties. I have also got to believe (hope) that they have their own metrics which evaluate the long term impact on share value of these acquisitions including what it would mean if CPG was eventually acquired by a larger entity and these metrics make the pain suffered in the short to medium term acceptable to LONG TERM investors - obviously not to those with a different time frame in mind.