I’m all for a share buyback, and I say that with a long term...

I’m all for a share buyback, and I say that with a long term growth outlook. I understand people wanting money to be reinvested; however in essence this does just that. by decreasing SOI it increases relative value in EPS of future profits or land sales, and it does so without tapping into our current reserves, more wells is fantastic, however the more we drill the more we eat into our reserves, the selling of which is the basis of the original monetisation strategy.

This therefore increases the value of future earnings/monetisation, while also increasing SP. while our SP is objectively undervalued it also makes sense to exploit the opportunity now.
I would much prefer a share BB at 1.4-5c than at 3c where it’s more that twice the cost. And the impact of a BB on relative EPS is also arguably a better value proposition than drilling another well:

-with 5b SOI to conduct a 10% BB At 1.4c would cost A$7m, and effective result in a relative value multiplier (on a per share basis) of 11.1% (so a relative EPS increase of 1.57% per A$1m invested)
-drilling a new well will cost approx US$12m or A$19m and increase HBP DSU from 4 to 5, a 25% increase (so a relative EPS increase of 1.31% A$1m invested)

now this example is just a back of envelope calc to highlight there is an actual value proposition for a share buy back, while increasing short term SP.
I do not accept the explanation from management that there is nothing they can do regarding SP, it highlights a serious lack of accountability.

I find it a little disingenuous when historically it’s been pretty well completely dismissed any times it’s been raised during Q&A in webinars. I’ll accept if it’s not a route they choose to go down, but explain clearly why.
Despite this, I am happy with BRKs operational success, I think theyre extremely undervalued and still has great growth potential, however I find management is far too vague in explaining what their actual vision and direction is for short/mid term growth without using throwaway terms.