They have ended their strategy view and have decided to not sell the company. They thought is was worth $30 per share. It has cheap metrics and receives Brent pricing for its oil. They had a dry hole recently, which prompted them to exit their holding.

It comes down to the regulatory environment. It has a great balance sheet, but carries some debt. This is a call option on Canadian natural gas. It is highly speculative at this point.

He just can't buy this at 20 times revenues. It has a tremendous amount of implied growth embedded in its current price. News that Amazon may purge some smaller vendors could help them.

Dividend safe? The payout ratio is in the high 50% level -- it should be safe. They extended their agreement with Air Canada to 2035 and received capital for their leasing business. He likes the stock and thinks it trades undervalued and the dividend could increase. Their earnings are not as correlated to the economy as with Air Canada, so he has made this his largest equity position.