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Parex Resources Inc T.PXT

Alternate Symbol(s):  PARXF

Energy Oil & Gas E&P
Parex Resources Inc. is a Canada-based independent oil and gas company in Colombia, focusing on sustainable, conventional production. The company is engaged in the business of the exploration, development, production and marketing of oil and natural gas in Colombia. The Company is focused on development in two main basins: Llanos and Magdalena.


TSX:PXT - Post by User

Parex Resources Inc
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Post by CrazyTraderon Nov 11, 2024 6:17am
107 Views
Post# 36306161

I'm all for buybacks.....WHEN these conditions are present.

I'm all for buybacks.....WHEN these conditions are present.1) Share Price is significantly well below Book Value.   
2) No/virtually NO Debt or any other significant Liabilites that could be taken care of first. 
3) Company has shown in the past and currently Solid Cash Flow AND PROFITS, and going forward the probablity is high that solid Cash Flow and Profits will continue.   
4) Benefits to shareholders from buybacks significantly out weights investing in other types of investments.   

Given Book Value around $27 CAD and share price $14, company virtually no debt, company has been profitable for several years including in 2020...........  

I think it would be hard press to find a better place for the company to invest than it's own shares at this time and share price......  I'm all for buybacks right now.


 
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