some thoughts, a bit random and unstructured.Capital management...

some thoughts, a bit random and unstructured.

Capital management priority is to ensure asset development and asset acquisitions to replace produced reserves,
then the company looks at its ability to return value to shareholders. The chosen method it seems is via share buy back
So in the medium term at least we holders will only see a return via share price growth as opposed to any distribution.

Management is very much aware of the disparity between our asset value and our market valuation, but it couldn't sell our assets at what they considered a fair price, so we have to accept that and go down the development road.

We are now part way through phase 1 and lets hope we have continued drilling success, I'll breathe a sigh of relief when all four laterals are squared away as planned.

And who knows maybe at some stage in the future, someone will come in with a better offer for our assets,? Nice to have the choice of selling at a decent price or to continue with a successful development plan?

Risks operationally of course, but so far so good
External factors who knows, but ultimately if the oil price stays firm then all good
We are working towards building up an inventory of fully paid out wells that'll bring in free cash flow for years to come

Remember how quickly Jewel paid out, if we got the right price environment and operational results for our current well programme, then what a flyer we would be off to.

Do I wish the share price was higher,? of course, do I think it will go higher? of course
Do I wish I had bought all my shares at a lower price? of course

Anyhow enough rambling