Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P

"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."

GREY:LSTMF - Post by User

Lightstream Resources Ltd.

Bullboard Posts

Comment by JohnDDon Sep 30, 2014 4:44pm

196 Views

Post# 22984267

RE:RE:RE:close

Mastermind said: "I guess their buying would drive up the price anyway and it would cost more than the 500MM."

Not sure where you are getting the $ 500million figure. If they bought back only 10 million shares over the course of a calendar year - and lets assume on average it cost $7 per share - it would cost only $70 million over the course of the year or just under 15% of their current capex budget. Seems very reaasonable and prudent use of some of our annual cash flow or budget however you want to look at it.

One other point, management is restricted to when they can buy back shares. For example, they can not buy back if they have material information that would likely impact the share price. Also they are limited around end of Q, but I am not sure of thelength and exact timing of blacck out periods.

John