Positive developments with the shutdown and reduction in tax liability in my view.
I suspect management are close to announcing an acquisition within Brazil or Gulf of Mexico. My preference would be for excess funds to be allocated towards M&A improving the geographic and political risk. In the event that they don't find a suitable opportunity it makes sense to distribute accumulated FCF & cash via a dividend.
Patience is required here - we need to see an uptick in the oil price for this to really fly in the second half of this calendar year
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$1.70 |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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1 | 5782 | 1.685 |
5 | 44592 | 1.680 |
1 | 5782 | 1.675 |
6 | 24231 | 1.670 |
Price($) | Vol. | No. |
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1.700 | 9782 | 2 |
1.705 | 5782 | 1 |
1.710 | 20782 | 2 |
1.715 | 5782 | 1 |
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