RE:Share Price ThinkingVery good analyses. As always , I think you are being conservative.
I do not share your concerns on share buybacks. In the event of a take-over 66% of the minority shareholders must vote yes. Share Buybacks will most likely shakeout many of the weaker hands and may very well lead to a greater increase in share price than a simple ratio to total shares outstanding would indicate. !! This could only mean that eventual acquirers would need to up the ante.
Having Nine Points as a shareholder is fairly good protection for minority shareholders , as Mr. Nuttal is less likely to vote as many of the inevitable arbitragers would do.
In the final analysis , our best protection is management. As they are aligned with us and since I know that Jonathon Wright has a sterling reputation he will wish to protect , I have no great concerns at all over a low priced take-over .
In the final analysis . there are still other alternatives out there . Although , I hate to admit it, but I have bedome rather fond of this board !!
PS shaking out the weaker hands may have the side benefit of ridding us of those hedge funds who
prey on gullible retail shareholders who leave stop loss orders dangling out there !!
In addition to the above, my fervent hope is that Nuvista and indeed most of the Petroleum sector will one day be evaluated at much more reasonable prices. Our PEG ratio is ridiculously low and we are trading way below asset values . Having a significant tax loss position is also more icing on the cake. For the life of me , I cannot figure out why anyone would want to sell shares at present valuations