RE:RE:RE:3 options for potential Q4 profit of $17m$17M would be Net Free Cash Flow, meaning Cash Flow after Capex.
Profits for 17Q4 would be around $50M, imo.
Debt will increase by $37M after paying $54M in dividends.
Of course this suppose they will sell all their production, meaning AECO will stay above $1.50/Gj until end of year.
For 18H1, it is another story. The plan will generate $40M of available cash AFTER paying the dividend if its stay at current level for the first 6 months. Production would remain around 113 000 boe/d.
I can bet they won't buyback a single share even if it would be the best economic option.
Peyto shares could trade below $10 and they wouldn't buy any. Peyto Board is programed in another fashion. But they certainly would reduce debt.