Brendon, for a "Buyback" to happen, first they are going to have to be successful drilling and second, they are going to have to be quite successful to accumulate spare cash for that purpose, then a buyback would have to be for the right reason. If they do it, just to look better on the financials, it could be a bad thing, and actually drive the PPS down. I am with you and hope they succeed and do a buyback, but I doubt it is anywhere on the horizon. At least as it stands now. JMHO. I found this simple explanation online.
"Are share buybacks good or bad? As is so often the case in finance, the question may not have a definitive answer. If a stock is undervalued and a buyback truly represents the best possible investment for a company, the buyback - and its effects - can be viewed as a positive sign for shareholders. Watch out, however, if a company is merely using buybacks to prop up ratios, provide short-term relief to an ailing stock price or to get out from under excessive dilution."
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