I hope the BOD do think about a buy back on a small quantity, say 1% of shares at these prices only, on a month by month basis. These shares are very cheap and it makes good financial sense to buy them now and sell in years to come when we are flying high. We are carried for the foreseeable future and don't need the cash except for acquisitions. That could be done with shares or borrowings anyway. Bomono gas find will make us self financing. Zingana 1 alone has P10 of 0.8 trillion cf which at $4 per mmcf equates to $3.312 billion. Known leads are already targeting 5 trillion cf that is $15.9 billion.Local competitors are receiving $9 mmscf for their gas at power stations and charging $16 mmscf for thermal. That makes my figures on the safe side. Time and patience will make the wise investor wealthy. Figures courtesy of envoi. http://envoi.co.uk/wp-content/uploads/Links/P221Bowleven(Cameroon-Bomono)Synopsis.pdf
RE: bod need to buyback
Buy back not happening. Kh stated that - only thing that will lose him his job is running out of cash. He can continue to pick up his salary for many years with what we have in Bank. A buy back would make tht more risky
RE: bod would benefit
$140m already earmarked for Petrofac($9m), Kenya( don't think we will be spending any more money there), and the rest is for Bonomo. We shouldn't have to raise any more money.
bod would benefit
a buyback would benefit the bod if they need to raise money in the future buying low selling high makes sense. a stronger share price defends against a take over or provides a better platform to achieve a higher deal price. they may need to raise money to develop a gas off take solution which would be a game changer for the company partnering just gives margin away.
RE: bod need to buyback
BOD really don't give a flying f**** about the PI's so a buyback will not happen.
bod need to buyback
need a buyback to break the trend! Performance 1 week down 1.77% 1 year down 30.63% 1 month down 11.2% 2 years down 52.97% 3 months down 6.72% 3 years down 53.36% 6 months down 9.02% 5 years down 79.44%
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