Town HallThese are the things I find interesting:
100% change from the divi to the buyback mindset. He accepted, that the Roi from an asset must be close to the Roi of Aoi.
He wished he had the liquidity in 2020...yeah, that's my warchest argument all day long....you only build empires anticyclical. To have money, when everyone has money...leads to waste of money.
He still said he's valueing Venus at $3-5/bbl oil in the ground (after appraisals + economic flow rate). Imho, it should be more like $3, because of depth, technical challenge, development costs and time.