almost back to cash backing, page-6

If you can get an 88% IRR reinvesting the cash why would you undertake a buy back?

These guys have proven themselves that they can invest - let's see how they go in Mississippi, Permian, Eagle and Granet - 3,900 acres for $174m
28,000 acres left to go

Not as valuable as South Antelope but if they get 50% of the returns then there is $2.52 of upside to the current 70 cents. Or $3.22 of upside (At half current success rates).

I don't want a buy back