Post by
Energyuser on Oct 24, 2023 11:03am
Share purchases
It can't be just NCIB shares. That's only 33M.
On June 15, 2023, Lucero announced the approval of the Company's Normal Course Issuer Bid (the "NCIB") to purchase for cancellation,
up to a maximum of 33,120,534 common shares of the Company over a twelve month period commencing June 19, 2023. At June 30,
2023, 5.0 million common shares were repurchased by Lucero under the NCIB, at a cost of $0.50 per common share, and subsequently
cancelled in July 2023.
Today, 1 trade 5000 shares
We are really close to the report date for our third quarter earnings release. We should get some information on these big trades. 650M (approx) out, 100M traded in large trades this year. Last year they did a private placement of 114M shares in the $.45 range. At this rate it would take 3 more years to get that overhang of cheap shares out of the market by LOU. Is someone else taking them out?
Comment by
tinkvid on Nov 03, 2023 10:16am
Many of those large trades were NinePoint Energy exiting their position... Good thing is First Reserve still holds 35% and the Chairman holds his rather large position. Earnings next week, should be a good Q3
Comment by
Sunset48 on Nov 03, 2023 7:50pm
Interesting!! Eric Nuttall is the portfolia manager for Nine Point Energy. I like his list of his energy holdings but what I'm interested in is "who bought all those shares" Most of Nuttall's holdings are Canadian energy but First Reserve has a full mixture mostly American. Anyway, good luck to all and have a great weekend. Sunset