RE:RE:From RBCAt least RBC gets it.
The call yesterday was very useful as it confirmed the valuation to be expected from the infrastructure asset sale or 8 to 12 times cash flow. This is highly accretive when you consider the multiples where we are trading at.
So you have half of a billion $ coming in with no near term maturities, no obligation to use it to repay bank debt, acquisition being a no no. Talk about optionality...
Another interesting piece is acceleration of share buyback and at these prices you buy more with same amount of money than they were able to in Q2. This will also put upward pressure on the stock with a large buyer vs this never ending churn with retail and some short sellers.
This company is due for a big re-rating. It trades like a junior and even has lower valuation than many of them but, it really is a senior at 170,000 boe/d with no peer in the light oil category and should trade as such with culture really changed and all metrics pointing to being a top quality producer.