RE:Buybacks10.7mm more shares bought and cancelled. By end of H2 2024 at this price they will have bought back more than 1/3 of the shares issued for the Ranger transaction and paid down a significant amount fo the debt incurred for the purchase. Long term shareholders will thank the lord the share price remained as depressed as it currently is when the oil market turns up. I expect that BTE will do the following in the next 12 months:
1) Sell a few more non-core assets in Canada for another 300-400mm in proceeds.
2) Continue to ramp up Duvernay, EF and Clearwater production to make up for the sale of non-core producing assets
3) Continue to agressively buyback stock (+/- 10mm per month)
4) Reach the debt target of $1.5 billion by Q3 2024
5) Increase the dividend to 15-20 cents per Q4 2024
6) Re-rate at 2x the current price.