SAE started the buy back program Feb 08. I don't think that Salinas's decision to buy back was anything to do with knowledge of a big seller dumping the shares. They have been buying them because they were very good value. They have stopped buying the shares because of the current economic climate and it is sensible for the company to conserve its cash. In my opinion John Beggs is doing a good job in difficult circumstances.
We should be getting news on drilling in Paris Valley this quarter.
I hold a lot and will continue to top up on dips. But I think we've had enough dips and it would be nice to see the sp find a higher baseline instead of these silly prices.
SAE Price at posting:
10.5¢ Sentiment: Buy Disclosure: Held
