RE:RE:RE:RE:RE:RE:Meaningful Share Buybacks - Consuming 100% of FCF? Why?I agree 100% Vermillion is a sitting duck at these prices.
I sent my analysis on Vermillion to the JR before you had posted. They could buy VET cash, and I am sure they would find many ways to create even more shareholder value. They would have 120,000 boe production.
It would be a slam dunk.
They may have other plans, but it is a steal at these prices.
The croatia SA-07 block and essentially 3 big German wells with no value assigned.
I have never see anything generating this kind of FCF, with a low share price like this, it is more than a compelling opportunity, its a steal.
Good thinking, we are aligned. I don't expect them to use shares because the Riddell faimly likes control. POU has roughly 4 billion in cash and securities, and a 1 billion undrawn line. No real current debt. Great timing to have cash.
IMHO
MHP