RE:News out.DantesInferno wrote: Looks good! NCIB company repurchase of 18.5 million shares.
On first take I find this an odd use of $177mil. Their comment that management feels that the market doesn't always reflect the true value of the company is a bit strange as well. The market is the market and does not get personal with companies. This would make some sense as a defensive tool to counter efforts by raiders trying a hostile takeover while prices are depressed. But artificially propping up the share price is a bit strange, expecially during a period when the sector is depressed as it is today, and also given that we are probably at the start of a bull run in oil and gas. We'll have to wait and see how and when they use the buyback.