RE:RE:RE:I believe the buyback will start next weekJohnJBond wrote: As I write this, they are either buying back shares, or they are paying down debt.
Both are postive.
Each investor has their preference.
LIke you, I assumed they would of started buying back shares in March.
As a shareholder, I linked buying back with a higher share price. I was disappointed when they had not bought back anything in March.
They are required to disclose buy backs within 10 days of the end of the prior month (if I remember correctly). That means they could of bought back shares in April, and have yet to tell us.
We have now completed one month out of the three in Q2.
Q2 is the cash cow month. By the end of Q2 OBE is either at or near their target debt level of $225, or they are above this level, and have less shares outstanding.
Remember, at the end of Q4/22, OBE was at their $225 debt level, and also had about $95 million in net accounts payable.
If they reduce that net accounts payable in Q2, they will be at their target long term debt level.
One way or the other, OBE is building shareholder value.
Q1/23 will be released before the market opens on Thursday.
I'm looking forward to seeing how they did last quarter.
We may also get an update on their buy back strategy on Thursday.
There are several potential positives I'm looking forward to on Thursday.
I've already published my thoughts on their Q1 cash flow. It is comes in as implied, that alone may boost the share price.
he majority of our first half 2023 development program was completed across our Peace River, Willesden Green, Pembina and Viking assets in the first quarter, with the remaining activity to be finished in May. First quarter 2023 production increased to 33,153 boe/d - a 13 percent increase over the 29,407 boe/d in the first quarter of 2022 which contributed to increased FFO and net income from the first quarter of 2022.