Thanks for your response
@staymourTotally agree the metric one measures the success of ones investment is shareholder returns, either through dividends, capital returns, etc ( determined by the company) or / and share price appreciation ( determined by the market).
Agree we don't invest our hard earned in BRK " for the sole reason we think Brookside is run by great guys, really good at what they do and can find oil like a missile homing in on a target.", but it is a significant reason to invest .... Would you invest your hard earned in BRK if it was run by crap guys, really bad at what they do and couldn't find oil in the middle of Saudi Arabia?
There will be no long term return if the company is not operationally successful, is only a trend stock with no real defined prospects apart from short term hype being in the popular theme of the moment. (like outcropping LI pegmatites only rick chip sampled) Sustainable long term returns need a strong business foundation, and BRK have delivered this is spades.
You ask, is a JV with CLR a monetisation event?... and state that in your opinion it's not , which is a fair view to have . BRK state it is as per below :
View attachment 5334052and speak of monetisation in terms of pathways of value creation, not pathways to "instant gratification" which would as you say, be the result of a full asset sale.
I share every holders consternation at the lack share price appreciation based outstanding operational success and ever improving financial fundamental metrics. But as long as the company is hitting it's operational goals which deliver fundamental increase in shareholder value (as distinct from the share price which is market recognition of that value) then I am happy . Have been investing long enough to have tasted the sting in the tail of the lack of patience in an obviously undervalued stock.
Just because the market is not rewarding BRK now, and knocking the SP metric of success flat on it's back, doesn't mean this will last forever. The buy back is a very positive step in accelerating the increase in per share value( rather than share price), and for me the next step they should take is dispatch the penny dreadful status to the dust bin by executing a significant consolidation. Doing so during a buy back is the perfect time IMO and should backstop the share price.
DP has repeatedly stated, and re-enforced this at the AGM, that for the SWISH asset we are in the monetisation phase and looking to bring forward the returns to a 6-18 month time frame. That ties in perfectly with incoming data from the CLR Courbett development which has been producing all wells for over 2 weeks now.
Thanks for the discussion.
Cheers
Dan
(20min delay)