RE:RE:RE:RE:November Buybacks100 Percent, Quint. Sometimes I think these accounts troll because they're either bored or miserable, or maybe a combination of the two. Whatever it is, they're definitely not looking at the big picture.
And, you're right, why would ARX hammer their buybacks now when there's a punative federal tax in place? No, they did all the heavy lifting 10 bucks ago and long before the new tax was in place.
Any buybacks they do now are a bonus that allows them to take advantage of price dips and stay well ahead of any share-based compensation. Either way, the share count is headed in the right direction.
I'm calling it now after seeing November top-well results from Kakwa and early bonus production of 20,000 BOEPD from Attachie Phase 1: Q4 financials will rip the face off anyone trolling this Montney blue-chip player.
Quintessential1 wrote: Quite frankly I wans't a fan of buybacks for this year, and said so, as the new buy back tax came into play and it was supposed to be a transitional year with poor performance.
Well I was wrong. It was transitional year but a poor performing one isn't how I'd describe it.
If management wants to hold buy backs to 1% thats ok with me as I can see a future where the buy back tax gets repealed by a changing federal government. They can buy back then.
If management wants to buy back more than 1% I am ok with that too as the share price must below what they feel is ARX's intrinsic value and will pay off later when the stock is pushing $30 per share just as the previous buy backs have looked great later.
I am ok with both because I don't run a $15 billion dollar company they do.
I just sit back and collect the cash they have made for me. ;-)
Lets see, when I bought in ARX was a $2 billion dollar company.
I think they are doing ok for me.
GLTA ARX BULLS