I am new to HC and I must say my early impressions are that...

I am new to HC and I must say my early impressions are that there discussion are dominated by the disgruntled investors and my view is many buy shares who shouldn't be investing because they seem to be very stressed and not very patient. The best investors don't have weeks or months as timeframes but rather years and decades.

I also note that there is a strong link between shareprice movements and investors view that value is somehow aligned to this. The reality is a stock like BPT may move 5-7 cents in a week but it's worth does not change by 60-70 million dollars in that same weak so assuming the shareprice trend reflects changing value can be very wrong.

A buy back is a good idea but only at the expense of investment ad diversification. Beach energy are very well diversified as they have little reliance on any one well and their Cooper basin assets are so strong they continually replenish reserves year after year. Beach is diversifying further but it seems to me they are moving strategically and a few investors can't see that far ahead.

I find it difficult to list too many companies on the ASX that have 60 million plus reserves. I also don't see to many oil stocks that don't fluctuate widly in price over the medium term.