Conference CallWhat a worthless conference call. They only read the financials, and only worthwhile question asked, was about Guyana VP recently saying they are NOT inclined to renew the Corentyne license and it was not really answered.
If they want to enhance shareholder value, as always said, why not at least offer a polished and positive Corporate presentation on their website as 100% of other companies their size do and release some positive news during the Qtr? For some reason they have been operating in stealth mode (invisable company) for almost 2 years and stock price shows it. Also, the SIB's have done nothing to enhance share price. We were near the 2 year low until the strange 12% increase yesterday on no real positive news. I am betting price drops today.
The main thing that SIB's accomplished so far is increase the % of shares that Catalyst owns as shown by trading near the 2 year low. I had far rather have them substantially increase their weak 3% dividend to equal their peers such as PXT (9%) than buy back shares. Although, the far better managed PXT pays high dividend and has a SIB.
Frank, FEC only owns 35% of the ODL pipeline through a subsidiary, and why you did not see 100% of ODL dividend going to FEC.