Parex Resources Inc T.PXT

I think it's would be wise to prepare for $65 oil.

[CrazyTrader]

I change my mind again and think reduce buybacks rates until Cash War Chest is a little bigger would be wise and then ramp up the buybacks again.     With oil price still dropping, I don't think share price is going into the $20s any time soon unless we hit with the Big "E"...... so there's time for buybacks at sub $20.  

If I'm wrong and share price rockets up..... no big deal, company misses buying back at sub $20.  
But if oil price does drop to $65..... it would be a big deal if Cash Balance is low.   

Reward of buying back at sub $20, not worth the risk getting caught with reduced Cash War Chest if oil price craters.  

Maybe suppend buybacks for couple quarters?    Hate to do it when share price so low, but I think it would be wise.  

Cash balance did rise in Q3, but I like it to rise a little faster.   I like to see PXT balance sheet  ROCK SOLID, Iron Clad........Back to Zero debt and where Current Assets were more than TOTAL Liabilities.   

All just my opinion/view/thinking.

[joebravo]

I guess that's why you're not part of management. No offense CT. They've already lowered the buybacks this year. Parex will not buyback 100% of the NCIB but rather approx 56% of the total.  We have a very professional and responsible management team here.  They are building shareholder value at very minimum risk. As for Arantes, I believe it will be a commercial success.&

[traderlong2]

I like that every day they buy 30 k they reduce their divy commitment $ 46,200.00 last month 627500.00 shares reduced divy payout by almost a million dollars ann so 12 mil per year I think continue to reduce at this pace,  don't increase the divy and the money adds up quickly best thing they can do is continue to increase BPD and continue on the path they have bought back 60 million

[joebravo]

Not sure where the price goes Monday traderlong2, but it should technically open $0.385 lower due to it trading ex-dividend.  It doesn't matter to us as we'll be getting that dividend payment Dec 16.

[traderlong2]

Yes JoeBravo Locked in Just a feeling they try some games monday we will see it will be short lived imo not sure how else they cover those shorts regardless this thing should move its way back toward 20 glad i am holding this congrats to all on the divy

[CrazyTrader]

traderlong2, jobbravo..... don't get me wrong, I'm all for buybacks at these crazy low share prices....  I'm just saying it's better to do it with a stronger balance sheet, cash level.     What are you afraid of suspending the buyback to increase cash????? Share price jumping up and missing buying sub $20????   Oh, that's so bad, LOL.