RE:Buybacks v debt payoff v higher divvies v more productionIf they did not buy a single share under $2, why would they buy at $5?
Buying 9 or 10 million shares under $2 at a cost of $15m instead of ditching it in capex was the greatest opportunity in years for Peyto, much better than drilling projects with 60%+ IRR like they claim.
They remained silent and did nothing....zzzzzzzzzzzzz.
So now, less than a year later, it would make more sense to buy back shares at $5?
Certainly not for me.
Unfortunately, once again, Peyto management are missing the opportunity of stronger Natgas prices during Q1 to reduce debt, and getting out of this nasty leveraged position. Hopefully, Natgas prices won't collapse during summer.
Yasch, "...Just by escaping the covenant penalties imposed last year, Peyto should be able to knock off about $4m per year."
You probably meant $4m per Q?
Not many participants in the survey, not meaningful anyway.
I guess many posters/shareholders gave up...