RE:RE:I WAS WRONG. Totally agree. The only thing I don't like is the news often controls the price of oil , and the facts take a back seat , until they can't be ignored. They, CEO - TEAM - and BOARD , I believe are less worried about the stock moving higher , with the NCIB , seeming to be more important. I can't disagree. If they buy 10 percent of the float , 62 M shares. This is essentially buying the other 90 % remaining shares or US ! a company with about 13,100 BOE a day , 10 % of the daily production , and or 600 plus ready to go drill sites. With those shares trading at half the P/E of yester years , and no dividend to worry about with those 62 M shares.
So I might be wrong but we are not just buying shares we are buying production. As the amount of barrels per share rises.
So 800 M is there next debt milestone. Dividend will be raised then , so I think your right about the divvy being raised.
Back to the share price could be higher , when the CEO had the ability through Discretionary Free Funds flow to multiply the dividend 6 maybe 7 times with oil at today's price , and at 65 raise the dividend 3 times , or .09 cents a month.
To fill the NCIB they need 620 M at $10 or 682 M at $11.
so this is a little less than 6 months cash flow , they have the room to do this with there credit line. However to buy back all the shares , and get debt to 800 M.
This will take 7 months ? Maybe as many as 9 months.
C