a share buy back, page-12

If the company was to purchase its shares back on market the cost per share would be significantly higher.

Imagine an investment bank buying 500-700 million sahres on market, that would in itself push the price up to mid high 2's as the is a hell of a lot of stock.

Alternatively, the company may choose to purchase through a tendor offer by which the purchase price is proposed to shareholders giving them the option of selling to the company. This you would think could be achieved at around the 2.50 level.

We must consider that shareholders are aware that their stock is undervalued by the market therefore they may be hesitant to surrender theor shares at such low prices.

Id say an on market purchase is most likely perhaps with an average of around mid 2's.

Personally id suggest a 1 for 2 consolidation of current stock as well as a $500ish million buyback (for sentiment primarily) as well as a $3Billion takeover of an energy company (AOE?)if they can obtain the funds.

Just my opinion

cheers