Eco (Atlantic) Oil & Gas Ltd V.EOG

NCIB are waste of shareholder $$$

[GripnRip]

If NCIB worked...why isn't AOI SP $4  instead of $2 today? AOI paid up to $3+ buying back shares

Spend the $$$ growing the Co instead of wasting it on something mngmnt can't do...try to increase SP

[Cooper97]

For starters we could have GH fly to San Ramon, CA where he could pick up a few Chevron execs for a chartered flight to Guyana.  Next day he could fly the lads over Hammerhead making sure Exxon is well aware of his moves thereby giving them an opportunity to keep all that area theirs. I'd bet the trip would have a better affect on SP then NCIB. 

[Lonegaurdian19]

I appreciate your stance but I believe the two situations are different. I have been vocal that buybacks at AOI were a waste of money and only rewarded mgmt. AOI has recurring cash flow and should up their dividend. i see ECO as different in that they accomplished the goal of getting a carry on a major prospect. Hopefully they can repeat this. A buyback, albeit a small one would preserve enough

[GripnRip]

That's one scenario What if spend $1M buying back shares, drill more heavy oil and SP goes to $0.10 and EOG gets bent over in woodshed and PP is for 8 cents? Keep the cash, avoid NCIB...they are useless waste of shareholder $$$

[Lonegaurdian19]

Well I suppose we are a prospecting company by nature. Gil has said he wants to drill but not produce. So looking at a multitude of scenarios as an investor the goal is a buyout at a higher SP. this company has a low burn rate and should receive $20 million dollars so $1 million would be a small use of cash. It's a double edged sword, we could miss but at the current SP I am buying, I'd

[Cooper97]

GH just wants to be bought - no drilling no producing. The strategy has always been to find good prospects in friendly juristictions that might one day be of interest to a major.  After a decade we have finally arrived. Btw, Exxon has another hit on Stabroek - the first in 2024. GLA

[rionel]

"finally arrived"  ?

[Cooper97]

March 06, 2024 (WO) TotalEnergies and QatarEnergy have inked an agreement to acquire participating interests in Block 3B/4B, offshore South Africa, from Africa Oil South Africa, Azinam (a wholly owned subsidiary of Eco Atlantic Oil and Gas) and Ricocure.