Post by
thetruth54 on Jun 11, 2023 11:48am
Perspective of the buyback
At 80,000 shares bought per trading day and about 8,200,000 shares to complete the buyback it would take about 102 trading days to complete the buyback. That would be 20 weeks of buying to reach the 8,200,000 shares. 20 weeks would take us right through October if Obsidian chose to pursue that strategy based on the initial buyback purchase reported. If Obsidian did that kind of consistent buying it would surely elevate the valuation over time. Moreover, at some point during the year I expect the price of oil to rise significantly which will a lot of torque to that end.
Everybody get your questions ready to ask Loukas tomorrow. By the way, if my math is off please feel free to correct me.
Comment by
thetruth54 on Jun 11, 2023 8:01pm
By the way, 80,000 shares per day is about 19% of the daily volume of Obe on the US exchange.