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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 > Do you realize what's going to happen as share count gets
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Comment by CrazyTraderon Dec 09, 2024 10:20am
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Post# 36352557

RE:RE:Do you realize what's going to happen as share count gets

RE:RE:Do you realize what's going to happen as share count getsJoe.....  

I was first Negative on company buybacks at $20+ and at even current Share Price. 

Then when I realized financials were in USD while share price in CAD and I recalculated Book Value and EPS over the years, I changed my mind about buybacks at current low share price and I was all for buybacks.

Then as oil prices continue to drop, and PXT cash balance drained, and company ran into some Cash Flow issue so they took on some Debt, I again changed my mine.

My current thinking, I'm all for buybacks are current share price but only after Cash Balance has been restored to a higher balance to prepare for possibility of oil price crash.

I've been buying.  Haven't sold one share.    
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