I would like to see an on market buyback. Forgive me if i'm...

I would like to see an on market buyback. Forgive me if i'm wrong but i think the rules state an on market buyback 'price' has to be within 5% of the SP averaged over the last 5 - 10 days. Taking the last weeks average SP of 13.2c that would mean they could put a 'floor' under the price at around this level or up to 14c. Buying just a few at this level and creating a floor would likely naturally push it up into the 14's area. Then they wait a week and buy again within the new 5% range and so on.....and see if they get dumped on at any stage.
Just seems sensible to me. With or without a buyback i think we are range bound in the 12.5 - 16c range pre / post div for the next 8 months bar exceptional drill results or oil price spike.
This said if they say allocated in their heads $20 - 30m to the buyback (notionally) and in fact they found there weren't sellers at .5/.7c incremental increases then perhaps it could test 16 - 18c if the market became convinced it was a more deliberate buy back? Having consolidated around this price range for a long time now perhaps it would gap up?
Just my thoughts.