RE:Food for thoughtI would not be that quick and bold to say your speak for most investors, in fact i would argue the case your entirely WRONG, and if most investors like the management and their plan this stock would be trading significantly higher.
78.3 Percent of ARC's liquids reserves are held in Kakwa and significantly more than 50% of the share holders are not original ARC shareholder, they are here because they liked the Kakwa investment, They are not a fan of dry gas, the majority of old ARC's production.
To watch Kakwa initial budget of 1.1 billion in 2020 fall to 525 million in 2021 in the best liquids play in the entire montney, i guess all of those share holders are immediately in love with management. Especially while they watch all the liquids rich surrounding players double and triple and even quadruple in share value.
So the share price lingers becasue management is so far off side with the majority of the share holder base, and investing their money in the wrong places. Move over a message to the original ARC shareholders, new investors think your management story stinks, and they are selling off their shares. .
2% debt, the benifit of paying off 2% debt is almost zero.
Cash Flow, if the get Kakwa up 40,000 boe they will increase the entire company fundflow by 15%, that has a lot more value than paying down 2% debt.
In fact at 70 dollar wti, i expect the company has already met their debt reduction objectives.
My guess is overall the people who might think ARC management is doing a great thing, domt know how to read a balance sheet, but do know how to spell swaear words on the internet using special characters. That is what i have witnessed.
IMHO