Share buy back will happen nowNot prudent to buy back shares if company can’t cover debt. They have made this very clear. Except, now there is reasonable case the bankers will support and more importantly to them, they need to protect some market value shortly or they will be taken out and loose there jobs. It’s sll about keeping their jobs.This will make them happy to think they might have held off a takeover, get shareholders off their back and look like geniuses if oil turns around in near time.
50 mil shares for $10 mil will halt drop and any hint of recovery will triple stock.