RE:Not filing for NCIB now is SP sabotageWell my stink bid filled so being a shareholder I feel fine commenting on the board about the stock.
I would rather not see any buybacks until the debt is payed down.
The dividend is sustainable at these prices and production rates and at this yield is less than the interest on debt. Management just needs to get back to the basis of running an E&P company which means increasing production and reserves and reducing costs. They are an oil E&P company not shareprice managers.
Had they gone with half the dividend and buybacks when they had surplus cash from the get go they would not have the debt they have now as buybacks only get implemented when there is FCF.
Their original dividend was based on too high a commodity price basis but has since been fixed. All that needs to happen now is debt needs to be lowered to instill confidence of a sustainable operation.
GLTY and all
Also at this low valuation and share price I would not be surprised to see suiters come knocking.
lovehockey wrote: I am not sure if there are better plans in management's minds but I may be in minority of shareholders who believe the company doesn't need anything else but buyback. I don't really want merges, takeovers none of that in current conditions. The company is good but the stock price is not. There is a very easy fix for that and everyone knows what it is.
You guys paid dividends for a while, it was good for me to increase number of shares that I own but now is the best time to start buyback program. Nothing crazy but dedicate $1mln a month to buy your own dirt cheap shares. If you are not doing it you are sabotaging your own stock price.