RE:RE:Broken promise from Africa Oil managementThey said it would be discussed in Dec. Now with Omicron panic at every govt they will hold off until later. This thing will drop for a while when oil prices crater.
Lonegaurdian19 wrote: I am not sure id say it was promised, BOD get to dictate those terms with good reason. A delay is fine, if anything it means the potential for an increase of the size of the divy or buyback. With hedged oil prices it's really not that difficult to figure out cash flows. That being said they still have a fair amount of leverage so the banks have covenants. They are against a variable divy so they obviously don't want to institute one that $50-60 oil wouldn't cover. It would almost be better if they went 50-50 and issued a one time special divy and the rest buy backs