Ann: Update - Notification of buy-back - BRK, page-54

Very long time quiet reader here.


Gentlemen, you really need to sit down and relax or just sell it and move on. So much stress over this.

Between last year's Sept and mid April this year, BRK been consolidating and sitting in 0.011-13 range! Average of .012. Just in 2 months it went up to 0.015-16 (which is 25-33% increase!) Do you guys really hope it'll go up 300% in a matter of weeks? Based on what? Low oil prices and 8% SOI buyback announcement?
Oil price been down for very long time too. But it's starting to turn. US SPR (strategic petroleum reserve) is at it's lowest level since 1987 or so and still declining. Joe just keeps milking the reserves to keep his voters happy and to help fight inflation. They'll need not just to stop draining it, but to refill this too! And IMO pretty soon.

Recent success in Wolf Pack well, NPV report, buyback announcement and Juanita results should set in solid spine to your confidence in the company!
Buyback is soaking all profit takers from that lengthy consolidation period and people who did hope for quick 100% return once buyback will start. As well as people who just wants to get their $ back and move on. So far it's been great. Correct me if I'm wrong but 50-60M already gone of the register and they won't come back on the sell side!

I've been holding BRK myself. Accumulating, trading for small imperfections/sentiments and then buying it again even more cheaper. Currently sitting on ridiculous overweight size for my portfolio, already in green and still buying (currently getting fills @0.014) and not intended to sell any in near future, definitely not at current prices. I see A LOT of upside and very very minor risk to downside in the future, this sector and this company.

Everyone who wants company to artificially push the price upwards to @0.03 or whatever just wants to dump the shares and tap themselves on the shoulder. Even if the ASX rules would allow such a quick push up, inflated price wouldn't be sustainable.

As worst case scenario, by the mid Sept i see our share price as minimum 0.017-19 range (another +13%-27%! Or +50% from our base price!) But if oil prices will run, wouldn't be surprised with @0.02-.027 range! With good news we could even run to re-test our previous highs.
As minimum by Dec we should be above @+.02.
*All these calculations and projections are based on TA.*

Without oil prices going up or Continental deal, you won't have any fireworks here, so sit down and watch current shares soaking show.



IMHO keep reading Dan's weekly insights. They're invaluable!
Thanks Dan, for your hard work and sharing your knowledge with us! Some oil company should put you on the payroll!