RE:RE:Q3 report not as good...dividend in mid 2022 and not now
agoldbloom wrote: Considering all the oil companies out there doubling or tripling dividends, I don't think this will play well tomorrow. I understand the rationale and appreciate the explaination and plan - but oil is up big time and shareholders haven't been given anything. No dividend and no real share buybacks.
I agree, very disappointed with not starting the payout, but I like information, especially since they have laid a specific plan that they can be held to rather than 'we will look at this later' line we have been getting.
If they do not stick to this phase plan they have laid out they should very much be held accountable by us shareholders with no question on letting our votes be known. We have a timeline, concrete numbers that they can be graded on. It seems currently we have been shown little respect in that oil has returned to a very profitable level and we are not recieving a slice of the pie, I'll go hungry longer, but if these numbers are not achieved then leadership should be struck down or we don't respect ourselves.
Apperently, reducing 70 million of bank debt = .50 cents of NAV and they expect to achieve that in less than 3 quarters.
70 million divided by 9 = 7.777 million per month divided by 2 = 3.888 divided again by 150.4 milllion = 0.0258 - This means that the dividend should ATLEAST be starting at 2.5-3 cents per month in a $70/barrel market
Should we hold $80/barrel it looks like the projection leads to $10 million per month divided by 2 = 5 divided by 150.4 = 0.033 or 3-4 cents per month
That's what I get out of this release... I'll hang tight and see if they achieve these goals, if not, we go old English style and decapitate them first chance we get at a vote.