I think it's would be wise to prepare for $65 oil.I change my mind again and think reduce buybacks rates until Cash War Chest is a little bigger would be wise and then ramp up the buybacks again. With oil price still dropping, I don't think share price is going into the $20s any time soon unless we hit with the Big "E"...... so there's time for buybacks at sub $20.
If I'm wrong and share price rockets up..... no big deal, company misses buying back at sub $20.
But if oil price does drop to $65..... it would be a big deal if Cash Balance is low.
Reward of buying back at sub $20, not worth the risk getting caught with reduced Cash War Chest if oil price craters.
Maybe suppend buybacks for couple quarters? Hate to do it when share price so low, but I think it would be wise.
Cash balance did rise in Q3, but I like it to rise a little faster. I like to see PXT balance sheet ROCK SOLID, Iron Clad........Back to Zero debt and where Current Assets were more than TOTAL Liabilities.
All just my opinion/view/thinking.