BRK capital allocation priorities haven't shifted. BRK have been...

BRK capital allocation priorities haven't shifted.

BRK have been consistent in the way they have conducted the buy back from day dot. It may have been done in a manner that isn't satisfactory to most punters, and that is where many of issues lay IMO .

Currently being in the monetisation process implies discussions with 3rd parties on some sort of levels, where you BRK would have a rough idea of their capital requirements when it comes to potential JV's or drilling partnerships with those parties.

They also have a good idea of their non SWISH capital requirements in terms of the Bradbury AOI, from drilling the second well, shooting the 3D seismic and acquiring unleased acreage off the back of seismic results correlated to drilling results. BRK wouldn't be doing anything different operationally at this time if there wasn't a buy back in place. The buy back is not hindering their current operations, but as the @TheProfessional said, it's about not hindering potential future SWISH JV drilling if that is the monetisation pathway. They also need a buffer to take advantage of any surprise opportunities that may arise.

Any reduction in SOI is a benefit. There was a shitstorm when BRK conducted the Rangers cap raise with 300 million shares at 3c with the associated 100 million free oppies.....Well we can now say those oppies have been unwound.

Would I like to see the buy back move at a faster rate?...most definitely . Would I like to see the buy back expanded? .. again most definitely. Pretty sure BRK will expand the buy back past 10%, especially if prices stay at these very low levels. But first they need to buy back 350 million and then get approval for the next 150 million to reach the first 10%... and we still have the best part of 5 months to go.

So right now, BRK are g conducting the buy back , building capital and progressing the Bradbury AOI , all while working on maximising the value they can extract from the operated SWISH DSU's..

Expecting court news on the Bruins DSU sometime in August.

Cheers

Dan