RE:RE:Full speed on the buybackTHANK YOU Tigris72poo, what a relief.
To understand why I was concern all you have to do is look at the long term charts of many other oil companies on the TSX. Just taking one for example, Baytex, BTE, Share Price destroyed from about $60 to $4.31....... I believe this destruction in value was due to M&A valuing BTE shares using crazy undervalued share price and not share value/book value.
Everyone knows the market can be just CRAZY and so Share Price can be CRAZY over priced or under priced. People play games, meme stocks, take over targets, dot com, etc etc etc.
Anyways, when you look at these other companies, BTE and others and wonder why their long term share price charts look so BAD, it's probably because the company did something to DESTROY Share VALUE, so Share Price will most likely never recover to their historic highs. This is usually happens by M&A during a time when company share price is crazy undervalued, yet they do the M&A using share price and not share value.
Just pull up 10-20 year charts of oil companies on TSX. Many look like BTE. Do some research you will probably find some M&A done after the big drop in share price.
They almost NEVER recover. ~$60 to ~$4 for Baytex....
I'm expecting PXT to recover back into the $20s very soon and then hopefully into the $30s within couple years. Hoping, but the market can remain Crazy for a long time, but I have the Crazy Dividend to pay me, so it's a KEEPER.
All just my opinion/view/thinking