RE:RE:RE:RE:RE:Meaningful Share Buybacks - Consuming 100% of FCF? Why?Ok. So over on the POU board they are trying to specualte what should be done with the cash they just got from selling those $3.3 B in assets.
Why not buy VET? While it is cheap. Even with a large premium it would still be cheap.
They would become an international major player overnight.
If they didn't want to operate internationally they could fold the mica properties into their own and sell the international to local players in each jurisdiction or possibly all or most to Tenaz.
Personally I would keep the corrib in Ireland as it could pair well with their LNG interests. Eventually the corrib field is going to be exhausted and it wouldn't take much to build a regasification plant there to feed the UK grid.
I'm thinking 1 POU share for every 1.25 VET shares.
Still pay the POU shareholders their special div but up the regular div for all shareholders to say $.25 per month or $3 per share annually representing a 10% yield at POU's current share price and payable with all that Juicy FCF they just bought. It would chew up a lot f that FCF but just thnk of the rerate in the share price. That yield wouldn't stay 10% for long.
GLTA Longs