One way street with these oilers. Even when their projects come on stream, with historical oil prices, they continue to dig into our pockets. Just look at the whole midcap sector (HDR, AWE, ROC right down to STU, CUE COE and DLS). And those that can't spend it hoard it for years (TAP, ARQ, COE etc).
Hardly a divi in sight, then generally token.
And this is in good times. In the previous 2 decades? Meanwhile tot up all the exec/director bonuses/bloated salaries in the sector.
Contrast that with the hard rock miners. Get the first mine in production, then start chucking cash back to shareholders.
I am starting to seriously question the longterm merits of investment in the midcap/junior segment of oilers.
EL
ROC Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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