PPP pan pacific petroleum nl
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musings on the agm, page-40

  1. entropylord
    14,187 Posts.
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    18/11/08
    12:10
    Post #: 4508810
    Stefoid,

    Think about it for a moment longer - a company with a declining field is exactly the right type to be doing a buy back. With the cashflow they can buyback their shares faster than the oil declines, thereby progressively increasing the reserves per share.

    As an example consider if they bought back all but one share at current sp, how valuable that share would be still backed by millions of bbl of oil. LOL.

    I am 100% with Dargie on this one.

    EL
    PPP Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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