RE:RE:RE:RE:RE:NCIBOldnagger wrote: You are being cynical. What is different now is that the current share price is way below not only present value but especially below future prospects as hedges come off in 6 months and as drilling on existing land plus new acquisitions pick up.
Paying down debt was never a high return activity. Drilling and acquisitions are high return activities.
The use of share buybacks will enhance those high return activities !!
Do not forget , the world is desperately short of the energy production necessary to meet both present and future demand. Vermillion is very well positioned to take advantage of opportunities as they arise !!
You will be getting a bigger piece of the pie without any out of pocket costs !!
One last thought, think about the G part of ESG , I doubt very much that VET would want to lower their score by screwing up their NCIB
Sorry Oldnagger, not being cynical at all. Probably not smart enough at investing to know how to be cynical. I was trying to say I do not understand your statement that if I bought before the crash I should feel vindicated by the NCIB. I apologize if my lack of knowledge does not make the connection -- not being a sophisticated investor such as yourself -- some of us are different. Maybe I just don't know enough to recognize the value. I purchased my shares at about $19.50/sh and was receiving a nice dividend at the time. Don't have a lot of money so therefore do not have a lot of shares. The dividend was cut in half and then cut in half again and then got eliminated -- didn't help my monthly cash flow but that is the way things go at times. The share value then dropped into the $3 range. I wanted to purchase more but had no cash flow. OAS doesn't go that far. I was still looking at picking up more as it got to the $7 - $9 range but my luck with my other stock holdings was also in the dumper - nothing would cooperate and get into a stage where it was worth selling to buy more VET, on a wish and a prayer. And then VET turned up -- and still nothing else did. That's all hindsight now.
When you tell me I will have a much bigger piece of the pie I can understand the basic math formula in that if the company cancels those shares they buy back, then the O/S shares get smaller. Trouble is if you divide my share count over the O/S and you get a number with 4 zeros and a one to the right of the decimal point -- whether that be with 165M or 150M it's still an amount that is insignificant, although the math, as you say, says it's a bigger piece of the pie. The guys with larger holdings will find it easier to recognize that difference in size. Bottom line though is that I still can't say I understand your comment re being "vindicated".
Now regarding the last part of your response you make reference to not wanting to lower their score by screwing up their NCIB -- again that is over my head -- is there actually a scoreboard with somebody? Or are you in some way implying something else? Should I even ask?
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Governance
Standards for running a company
- Board composition
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Audit committee structure
- Bribery and corruption
- Executive compensation
- Lobbying
- Political contributions
- Whistleblower schemes
Not meaning to offend you in any way but I'm just suggesting a comment like that just goes right over my head -- but maybe that is fine, and I just don't need to try and figure out the meaning. I'll leave it to the experts to rationalize amongst themselves.