RE:July 25, 2017 last time it was over 2.00 a share
The $500 cash on hand is after payment of the Sept RBL and dividend payments. I expect Q4 cashflow to cover the majority of the remaining RBL repayment of $163m still leaving approx. $500 cash on hand at y/e before any further distributions. So I think there might be the potential for a dividend of $150 - 200m before y/e. I suspect they might use this as a basis to buy the extra production they have talked about
The $38m payment relates to a settlement with the Nigerian govt for past gas sales
Still plenty of potential upside with AFE and drilling prospects and at the macro level, oil keeps pushing higher ...,even Kenya has come back from the dead (not holding my breath there)
And yes, dividednd and buybacks (my pref) should be just around the corner as the various pieces fall into place