RE:RE:RE:Shlinker you don't make any sense to me.Well, some opinion and some not... theres room for dividends,then again thats not for undergrads.
Debt is nearly always cheaper than issuing equity unless beta for your company is very low or investors that want to take down the equity have so much money to invest that they dont need a reasonable IRR, (thats one way of looking at it). For review look at the CAPM...easy for anyone to understand... Share rollbacks, dont like them, however, in the rare case they sometimes could be advantageous, less shares out, still the same sized pie, but less shares to perhaps borrow, tougher for the proverbial short to get their hands on shares.. and perception and margin... with stocks in the multi dollar level attracts the ability to margin the particular stock and some investors (perhaps not rightfully so) perceive a higher quality stock, which I dont agree with... Your insurance again hostile takeover with high shares out, is a theory I would never ascribe to. Higher concentration of shares in long term hands, is the way to go...ie..management or long term stable investors..
Now back to dividends and such... 2 cents a share a year is doable, its 11 million dollars.. and it can be accomplished via borrowing money to pay the dividend and minutely scaling back expenditure ( which I dont believe we would have to do anyways). As far as capex for 2014, no one really knows... its all an estimate at this time.. it is even possible that royalties or taxation may change. I believe your 2013 average on production is underweight and I would think its possible to add 10 to 15 percent to your 6000 boe number for the year... But hey, what do we really know...
Your dollar quote is nice.... And we are all entitled to our price points.. From your thoughts on capex i will assume you dont think an acquistion would be timely now.
Again, I dont see it as being very easy to determine cashflow in year 2014, as we dont really know the entire game plan in terms of drill programs on blocks we own for the year...
Lets justwork through the summer and see where we wind up...