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Investors have reason to become bullish on the oil patch but one observer cautions that some companies may be adopting a dividend-paying structure simply to pump up their stock price.
Investors have reason to become bullish on the oil patch but one observer cautions that some companies may be adopting a dividend-paying structure simply to pump up their stock price.
(LARRY MACDOUGAL/The Canadian Press)

In Penn West turnaround, it's one step forward, many steps back

If corporate turnarounds were easy, we’d all be doing it.

They’re not. They’re invariably tricky and often downright painful. Penn West Petroleum Ltd.’s turnaround efforts have been both of those and more.

Now, strides the Calgary-based oil producer has made to stabilize itself in the past year will be overshadowed for an indefinite period by fears of corporate malfeasance, deserved or not.