RE:JOYRegarding SP consolodation, the small float prevents any accumulation above retail levels. Shareholders of JOY, at this point, are the more astute or perhaps, stubborn remains of the junior/micro producer segment of the market.
As survivors, we tend to buy and sell quite carefully. It is also apparent thar generalist investors are staying away from oil and gas. They may never come back and the share price may not either. What shareholders need to concentrate on is the difference between the financial and the physical markets and the opportunities presented in the next two decades.
JOys opportunities are in the physical market and, whether or not the share price rises or not, at present, JOY can buy back the entire float in under two years from cash flow. This is the opportunity and shareholders need to hold the company to account to rationalise cash flow for select growth opportunity and return free cash flow to shareholders.
AIMCO did not take on risk to have opportunities dissipated by unfettered growth in an era where the demise of oil and gas is predicted by the fallacious logic of the Woke crowd. Asute investors will ensure that JOY maximises cash flow over growth and returns capital to shareholders. Stop worrying about the day to day fluctuations of share price and concentrate on the plan to move forward.
The threats to Journey come first from execution failure by management and next from a buyout that robs shareholders of future return of capital.
Briko contributed a lot of legacy pipeline and infrastructure assets that management needs to rationalise, disposing of anything not essential and monetising spare pipeline capacity. In the new oil price era, these assets regain value that Briko could not achieve with low prices.
In conclusion, AIMCO is our strength, management is executing brilliantly so far and global oil supply and demand favours producers. Don't fret the share price, concentrate on execution.