gday Oz
The market cap conundrum is a tricky one and as you rightly say the only way around this is to carry on with business as usual, building the business via the drill, increasing production and reserves.
As per the AGM presentation the company is very excited about the potential of a number of their 'high risk' targets including waterhole creek, wolf cowling and Schwing.
I agree that diverting money away from buyback to repay debt would have little effect on sentiment towards the issue, am personally comfortable with AMU debt/asset ratio (as is the Co and its bankers). I still believe that we will reap the benefits of the buyback in the longer term.
"apart from Wyllie who else is on board ?" Although not substantial holders (+5%) i am sure i read somewhere that institutional shareholders were present in the top 20 ? can anyone confirm this.
On the divvie, i agree that it will require some big wells to come in as a 1 off divvie could do more harm than good imo any dividend would have to be sustainable in the long term, but i understand that this is an option that would be considered under the right circumstances.
On a brighter note OPEC meets today and speculation is they will be gunning for a 2m bopd reduction in output in conjunction with expected cuts by non OPEC producers. If POO remains this low for too much longer a supply squeeze is bound to eventuate as global exploration is curtailed and marginal producing fields are shut in.
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