RE:RE:RE:Reminder: SPE may start share buyback tomorrow
yeah I am a nobody but I can read a financial statement. They have just finished a 3 for 1 consoliditation which is hardly a show of strength taken on an enormous amount of debt, issued paper and the stock keeps making lows. Maybe management thinks buying back shares is the best use of cash right now but it doesn't show much confidence in their ability to generate cash through the drillbit which is ultimately necessary. I think this stock buy back is a thinly veiled attempt at supporting share price and maybe to stop current holders from jumping ship. If oil prices don't improve fairly quickly this stock like many others will only continue to dwindle.