RE:Completes USD 300 Million Bond PlacementBirchcliff Energy announce today that they are paying down all debt by 2023. Ipco by locking in a 5 year note at 7.25 % have essentially bought themselves the same degree of protection against creditors. I have absolutely no doubt that Ipco will achieve a better than 7.25% ROI over the next 5 years. This is certainly the much better way to operate, with a combination of share buybacks, drilling , possible acquisitions and shareholder dividends !!
I really do not believe our industry needs to self destruct in order to please a group of vote seeking politicians .