RE:RE:From growth to dividend model I was pleased to see the SIB in qtr 1. The faster the buyback the more aggressive they can be with shareholder returns via dividend forcing the elusive re-rate.
However, I didn't like the comment about central part of their lands being profitable but at 20 percent lower than modeled.
Of note, they lowered the base price from 90 to 85 going forward. Setting us up for netback surprise beat in the future.
PJ