Paramount Resources Ltd T.POU

Nuvista, a top Paramount holding completes NCIB

[Sugaree]

"Normal Course Issuer Bid Pursuant to the NCIB, NuVista will purchase for cancellation, from time to time, as it considers advisable, up to a maximum of 18,190,261 common shares of the Corporation.The NCIB will become effective on June 14, 2022 and will terminate on June 13, 2023 or such earlier time as the NCIB is completed or terminated at the option of NuVista. "

I have all the months added up and looks like roughly 17,622,000 shares bought back in 5.5 months. They are within 600k of the allowed maximum.

I suspect an SIB will be announced soon. Last year they made a good news release second week in January and stock shot up big time that day. 

Honeypot, thoughts?

[MyHoneyPot]

Nuvista has accelerated their program and have 3 rigs working full time for operational efficiency, and in watching them operationally they are very good at execution, i would say excellent.  I feel a bit for NVA the company because they have Eric Nuttal on the stock, and POU with a massive position of 37.3 million shares. We know that Eric is hammering them to buy back more stock, and to

[MyHoneyPot]

Bottom line  20% production gain 20% FCF 400 million What they do with that 400 million, is the question. I think share buybacksy onl, maybe a special dividend. My concern for NVA is that Eric is not married to his shares and i could see him selling the entire block to POU for a 5 cent premium.  IMHO

[Sugaree]

Do you think another NCIB or go all out with an SIB? Like you said this is lats year without a 2% buyback tax, so why not maximize the buyback with all the FCF. Why do you think if Eric sold all his shares to POU in a cross trade be any kind of an issue for NVA? 

[MyHoneyPot]

Nuvista has essentially acheived their debt target, they are pretty well growing at their capacity some people may say they are growing maybe to fast, but i am sure they will figure it out.  So they are spew out cash, and Nine Points partners a major shareholder wants the cash returned to share holders, so they have commited to giving 75% back to share holders.  I think they will do a