Post by
drunk@noon on Jul 04, 2022 10:13am
go away dividend terds. Stock was at $14 a couple weeks ago.
Instead of coming out with a PR updating outlining a significant buy back plan to buy back 30% of the shares ( this is what you do if your 2p nav is $25-2.5 times current shareprice) They will give us 3 cent a month dividend. Gee, thanks. Down 4.50 dollars in shareprice, but hey, I get 3 cents a month to make up for that.
Also of note, who the H cares if they are producing 23,000 boepd or 21,500. Makes no difference. What makes a difference is buy back 1/3 of your shares and your intrinsic value per share goes up 50%. The 2 p nav per share goes from 25 to 37 your cashflow per share goes up 50% and they could easily do this.
Tie it into the price of oil remaining above 95 dollars. But in a 10 % buy backk and announce that a ductch auction will occur in the last week of september for 20% of market cap---provided wti is still trading at a certain level.
Instead it is more of the same--3 cent dividend. and NO END OF QUARTER UPDATE LIKE VET HAD TODAY!!!
Shareprice goes from 14 to 9.30 and nothing.
Bottom of the barrel managment strikes again.
Comment by
blackdog on Jul 04, 2022 2:27pm
You are entitled to your opinion, but mine is that you are wrong, and that your posting handle is very appropriate.
Comment by
Baystboy07 on Jul 04, 2022 2:56pm
The original poster is right...get the share count down scr#w the dividend...
Comment by
personal on Jul 04, 2022 3:27pm
Agreem initiating this dividend is useless, pay down debt, interest rates are going higher.