Ann: Flames-Maroons Development Multi-Well Drilling Underway, page-12

The SP won't rise until they announce a dividend policy, in my opinion. Creating value for shareholders is not the same as sharing value with shareholders. My investment in HZN yielded circa 120% over 18 months through a combination of SP appreciation and special and FY dividends. But SP appreciation was triggered by the dividend announcements, there is a inherent link in the two. Dividends support long term value investors because you do not have to sell your shares to realise capital. Versus buyback which does not return any capital to shareholders, if they don't want to sell their shares. The fact that there is not even a dividend policy for BRK, which is proposing a company changing pipeline of production if very surprising for me.