GREY:MKRYF - Post by User
Comment by
jerrybeon Nov 05, 2014 11:20am
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Post# 23097169
RE:RE:Share buyback
RE:RE:Share buybackWe have to be consistent here: We have been clamoring for weeks that this stock is completely undervalued and that we would all be loading up if we had more cash to spare.
And now, we say the firm shouldn't use its spare cash to buyback shares?!?
Nobody knows where oil will be in 6/12/18 months from now...it is literally anybody's guess, the gurus, the experts, the insiders, nobody knows. That being said, many of the largest producers would be in a world of pain if we were to go to $60s, etc. We might spike down (markets are irrational) but the the drop of 30% in three months is very sharp...maybe a long overdue readjustment following the easing of tensions in the middle east and growing production from all these countries, and of course the US.
I think we crucially need more pipelines out of Canada. And the US needs to allow the export of crude. This would put North American production on a much better footing.
What management knows is how Entice is developing and how its midstream solution is coming along. If they thought both had serious issues, then I would definitely be unhappy for them to do a share buyback...heck, I would not have invested in the first place! Entice is going to be the gift that keeps on giving. The midstream solution will be fixed hopefully within a couple of months.
This is the time to keep our cool. Several juniors rebounded 10% of more since yesterday morning (SGY, LTS, etc.)...I think the minnows (like MEI) have just been completely forgotten by the big boys. This is the buying opportunity of the year, if not the decade. IMHO.