As I said, there had better be results in short order. I did not say KAR is a bad investment candidate. There are lots of interesting investment candidates in energy. If this is going to be part investment fund then I want a return on investment paid to me in either (a) continual share buy back (b) or a dividend.
I do not want cash piling up to be burned on G&A. The rig company should be sold to HWO perhaps for shares in HWO that could be distributed to shareholders. HWO does pay a nice consistent dividend. We don't need to own a second rate rig company.
Wiggling
Karoon Gas Australia Limited stake, page-13
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