RE:RE:Ncib …ncib…..Yes, looks suboptimal to have bought back shares after the latest swoon rather than debt reduction, but it would have looked really good if the share price rallied. It will come back and the share buybacks will look pretty good.
It's not like the shares are repurchased all at once. It happens as cash flow comes in. They are ongoing, even at today's low price. So we end up with an average price for the buybacks over the course of months, not the low or the high price over that time.
Share repurchases are very good at increasing company value and BTE is doing it at an extraordinary pace.
Patience my friends!
robert41 wrote: And where would the money come from to do this? They shouldn't have bought a single share all year look at there average cost look where the price is now. Pay down debt and then maybe use some of it when oil goes thru these down times. If oil had no down times then so what we have a larger float but less debt and a more stable share price. The advocates for buy backs don't seem to understand that the oil business goes up and down better to have cash on hand for rainy days. Now we won't have the cash to take advantage. Jmho