RE:RE:RE:Well...BayStreetWolfTO wrote: JD, while I do agree they seem to have the pieces. I will admit they still lack clarity
I am not looking for "up to" statements just like I am not looking for "discreationary" garbage
I also think 75% should be the goal....some of these people don't know how to write positive releases.
My release for Baytex (if I was in control) would be something like this...clear & concise "
1. Baytex WILL provide 25% of free cash flow to shareholders with the other 75% to debt until debt reaches $800 million. That 25% will be 100% dedicated to share buybacks
2. At $800 million in debt Baytex WILL provide 50% of free cash flow to shareholders with the other 50% to debt until the debt reaches $500 million. That 50% will be dedicated to share buybacks
3. At $500 million in debt Baytex WILL provide 75% of free cash flow to shareholders with the other 25% to debt until the debt reaches Zero. That 75% will be dedicated to 25% share buybacks and 50% dividend (including a base dividend and a percentage assigned to special which will fluctuate with the oil price)
Short and sweet but that is complete clarity in my opinion......
JohnnyDoe wrote: masfortuna wrote: A very good quarter for cpg BUT the reaction by the market is underwhelming to say the least. It actually traded red fora little while. I understand that the Feds will raise rates in order to fight inflation but regardless of any rate hike there will still be a need for petroleum. In actual fact, assuming the worst possible case scenario, the planet will still require about 96 million boe every day which would keep oil prices high for a very long time. Cpg reported 38 million in fcf and yet that apparently didn't impress. BTE reports after the bell and should have had a stellar quarter. Will we be in the red tomorrow morning as well? Ridiculous...
Mas
mas....I own CPG so I follow that board. I think there's generally a higher degree of mistrust in that mgmt team compared to say the mgmt team here at bte. I personally was looking for more clarity on future use of fcf and it was lacking. Given what they did say, it amounts to nothing really in terms of commitment. I haven't decided yet how to react to that. I place a premium on being able to trust a mgmt team to communicate and stick to the communication. As a result I may decide in the next 24 hours to move money out of CpG. And I think that's a sentiment held by many investors so it wouldn't surprise me if that is capping the market's reaction today.
Regardless of the numbers in question, what you typed is clear. "Up to" 50% is not clear. A cynic might say it's intentionally misleading.