not even any bot action or anything!
Pretty worrying stuff.
Feel like either they will announce a deal or plan to drill multiple wells themselves.
Unfortunately I don't see either one helping the sp as it will take upwards of a year to go from announcing the plan, booking rigs, mobilising, drilling, spuding, stimulating and flowing multiple wells.
So realistically we could see another year of the sp at this level imo before we would see a significant course correction. Depends if they try to do multiple wells at once or just have one rig go back to back but this is increasingly looking like an extremely drawn out affair.
Say oil price stays good for a while and we drill a few development wells, 7-12 month payback, so realistically we would be in the same place we are now same time next year with a decently but certainly not massively larger production base and probably similar cash on hand.
What would the sp have to be for people to be happy? how many shares brought back and at what price, would hope for a long term trend of buying back shares at a gradually higher price but that doesn't seem at all to be something management will do share price be dammed.
Just talking to myself here but if anyone wants to add something that would be great.
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