Pilgrim Petroleum Corp. (PGPM)

[GenericGatsby]

Yeah but they have an incentive to do the buyback right now before the CE gets taken off. They have no idea when it is coming down just the same as we do, for all we know is that everything necessary has been filed. Everyone knows the PPS will skyrocket once those bones get put into the earth, so why would the company want to spend more money for the same amount of shares/retire less shares with their fixed buyback budget?

They benefit the most from doing it now while everything is still so cheap, and we benefit from the fact that they are doing it at all. If they have a target number of shares they will buyback, any extra money left over will benefit the company in other ways, and that will benefit us in turn. If they have a budget for the share buyback and will just use whatever money they can, we all benefit most when they buyback in the cheapest.