RE:Share BuybacksNow that the Qatar 330% partner in Venus wants to drastically accelerate development with Total and partners plus the Saudis telling Nazi supporters to pound dirt expect all free Prime cash to be allocated to various development projects that won't generate cash for 3-4 years at best. I expect AOI will cease share buybacks very soon because they need to conserve every penny since won't be getting much Prime div for next few years. Better to buy some debt crippled producer. Hahah hilarious to watch OPEC+ handing Nazi supporters price increases while 90% of world buying RU oil at 30 % discount. UK is collapsing under a 2.5 T govt bond collapse they have to buy 5B own bonds daily to prevent a total meltdown. Credit Suisse also needed bailouts last week. Cash is king at the moment.
Malpeque2 wrote: Company has repurchased 10% of the total they are allowed in about a week or so, given that they have authorized 40M over a 1 year period.
IMO the scale of these buybacks in such a short amount of time and as a percentage of the overall share volume IS driving the share price higher.
i don't understand why they would do so much so fast. I have been and am in favor of these buybacks but the near term scale is a bit excessive.
I hope KH and the BOD have a plan to do a Substantial Issuer Bid IF this NCIB is completed substantially before the 1 year deadline.