RE:RE:RE:RE:2025 Capital Budget and Operations updateOBE is more unloved than most, Nuvista and Crew also did the same and were rewarded a lot better than OBE and regardless all created real value. The decision to stay flat for the last 5 years just isn't rational (especially in 2022) unless you consider it from management's personal financial interest they do better when the share price is lower from their options they clearly aren't purchasing any.
And I was optimistic for over a year but the dividend decision has been really bothering me the past few months because it's objectively wrong, so much so that i'm reconsidering the entire management team and how their high inside ownership actually ended up being a negative. They are good on operations but poor at capital allocation and the latter seems more important because most managements are good on operations, although I'd agree yangarra is slightly better. But the poor capital allocation and decision to stay flat has me looking for the exits. The change in strategy seems to be when Gurdeep was appointed President around 2019.
I also realized that Gurdeep was kind of full of it in his Peters interview. He says he's had so many phone calls with retail shareholders and tends to listen but then says that the capital allocation was discussed among "a few key shareholders" (i.e. management). This has nothing to do with retail investors they have no role in the capital allocation decision it's simply management's personal preference irrespective of what the best capital allocation actually is