share buy back announced, page-8

I think the buyback is a very solid move. I don't expect the company to buy back a huge number of shares, but it should at least put a floor under the price. Besides a couple of recent cross trades, volume has been neglible. There are no new buyers (why buy a small oil and gas company with significant hedging that does not pay a dividend, even if it is cheap), and therefore even small sells cause the share price to fall.

Hopefully the recent exploration success will be reflected in the share price, and future drilling will prove successful. In my view it is a wait (may be long, may be short), until AMU is on the receiving end of a takeover offer. It is just too cheap, and the company is trying very hard now to get the share price up. There is only so much they can do though.

Just my opinion
Monty