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SPARTAN ENERGY CORP PTORD

Energy Oil & Gas E&P
Spartan Energy Corp is an oil and gas exploration and production company that serves the medical and biotechnology, military and aerospace, and industrial and commercial markets. The company has two business segments: manufacturing and design service, and engineered components and products. The manufacturing and design services segment provides manufacturing, aftermarket repair, and refurbishment, in addition to the development of embedded software and quality assurance services. The engineer...


OTCPK:PTORD - Post by User

SPARTAN ENERGY CORP > Reminder: SPE may start share buyback tomorrow
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Comment by alta0264on Aug 24, 2017 10:46pm
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Post# 26619919

RE:RE:RE:Reminder: SPE may start share buyback tomorrow

RE:RE:RE:Reminder: SPE may start share buyback tomorrow
yeah I am a nobody but I can read a financial statement. They have just finished a 3 for 1 consoliditation which is hardly a show of strength taken on an enormous amount of debt, issued paper and the stock keeps making lows. Maybe management thinks buying back shares is the best use of cash right now but it doesn't show much confidence in their ability to generate cash through the drillbit which is ultimately necessary. I think this stock buy back is a thinly veiled attempt at supporting share price and maybe to stop current holders from jumping ship. If oil prices don't improve fairly quickly this stock like many others will only continue to dwindle.
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