Parex Resources Inc T.PXT

Full speed on the buyback

[SleepingGiant64]

Just filed that they bought back 660K shares in October. That keeps up the accelerated pace from September and tracks at 7% per year.

Tough to beat that when combined with an 11% yield. Oil just needs to hold above $65 and this dumb management needs to stay out of its way. Unfortunately, yesterday they talked about M&A. I pray they take on debt to do that rather than cutting the dividend.

[CrazyTrader]

Is there a recording of conference call that I can listen to????   What this about M&A ???? Can anyone tell me/the board more about M&A, what was said.

[tigris72poo]

No M&A talk on the conf call.  They are looking to farm in to mature Ecopetrol fields that can provide predictable growth from waterfloods.  No upfront cash outlay required and no stock dilution.  This mgmt and Board is solid despite the disappontment at Arauca.

[CrazyTrader]

THANK YOU Tigris72poo,  what a relief.      To understand why I was concern all you have to do is look at the long term charts of many other oil companies on the TSX.    Just taking one for example, Baytex, BTE,   Share Price destroyed from about $60 to $4.31.......   I believe this destruction in value was due to M&A valuing BTE shares using