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d0dger55 Better to remain quiet than to shout your ignorance. According to your logic a company can increase its equity value merely by issuing shares to itself. Woohoo! We don't need any employees other than the company secretary.
Straycat you have zero understanding of the impact of stock buybacks. Period.
PUTUP,
You really don’t know what you’re talking about do you?
My posts rely on facts for their impact. And that clearly rattles you.
Please name one assertion I made in my recent post ‘Was It Worth It?’ that you wish to challenge.
Otherwise PUTUP, please shut up.
As for my 'agenda' it's simple. I have a secret desire to make money on my not inconsiderable investment in GKP.
And my lack of faith in the lightweights at the top of the Company is a matter of record.
I have no problem with the Company strategy, only the people employed to action it.
Specifically I refer to Ferrier who thankfully is soon to be no more, and his his partner in crime Huijskes who will undoubtedly follow after a decent period of time when the dust has settled on JF's ignominious 'retirement' announcement.
If you've got a problem with either the content or the tone of my posts, then I will happily discuss them with you.
Unfortunately you have yet to make a cogent,or even sensible argument concerning either.
PUTUP OR SHUT UP
OMFG.... had to shout as ur name implies!... wot the fook r u on?..... a div is net net conversion... u get cash back but ur investment drops by that amount altho retaining the same amount of shares,but hopefully goes higher in the future.. did that happen?... NO!!!... As for buybacks, these only help shareholders if they r cancelled and the amount of shares in issue drop so in theory the smaller amont is worth more?... did that happen NO!.... and now ferrier has jumped ship!!!... taken his money n run, the lying failure, awarded for wot!!!..... SP 90P ish.... PUTUP...JUST SHUT UP!!!.... plum!!
hi i had some of these shares years ago
and bought a few 1000
the over week
just been reading there might be a buyout
do you think this is true
would be nice last time i had these i lost a mint
why do peaple think there is a buyout
i have not kept up
for about a year
thanks the frog
"This is in part due to the fact that GKP paid out $49.1m in dividends, effectively wiping out 2019 profits and degrading the Balance Sheet in the process.
And in 2020 the Company has given itself another mountain to climb.
There are currently 19,059,064 shares sat in Treasury. At the AGM it was announced that the Company has now resolved to cancel all but 1m of these.
I estimate the cost of this cancellation exercise at c.$45m given that the year end vwap was $2.86 on 10.5m shares(including the 82k nil cost options vested in the year), and a further c.9.4m which were purchased in 2020 @ a $ converted vwap of $2.32.
All off the bottom line."
Straycat you seem to have an agenda to talk down interest in the stock with this BS.
The company had excess liquidity and returned capital to shareholders. Some days you want dividends and on other days you b*tch when they pay them. Which is it?
Stock buybacks return capital to shareholders. Ignoring taxes for the moment, they're the same as dividends. You could have sold into the buyback program and received a return of capital (just like a dividend). If everyone sells into the stock buyback program pro rata with their holdings then its identical to a dividend (with the caveat that replicating sales that perfectly match the company's buys has some minor performance error). If you did not, YOU - no one else - made the decision to BUY more ownership in the company at those prices. YOU (and others like you) lost money on that decision, not the company.
there's over 13 billion barrels of oil in them thar hills, this will be taken out by a big player IMO
Note how all the effort is going to downplay the size of the asset.
Note the lack of mention of the permian (we know there is light oil, gas and condensate in the lower reservoirs which is all highly moveable)
As I have said before, I am here because of the asset and I fully expect to see a big player take the asset at market value. The KRG are aligned to receive their pound of flesh when it gets sold, this will ensure a market value price and not a back door giveaway (at least I hope so but you never know with these thieving gits)
h1970,
Insanity. That's one word to describe what's going on here.
But I could think of some less charitable ones.
As a LTH, where do you think this Company is headed over the next few years?
pure insanity isn't it
GKP reported 2019 profits at $49m on sales of $206m.
Yet net assets are showing at $520m, down $33m on the prior year.
This is in part due to the fact that GKP paid out $49.1m in dividends, effectively wiping out 2019 profits and degrading the Balance Sheet in the process.
And in 2020 the Company has given itself another mountain to climb.
There are currently 19,059,064 shares sat in Treasury. At the AGM it was announced that the Company has now resolved to cancel all but 1m of these.
I estimate the cost of this cancellation exercise at c.$45m given that the year end vwap was $2.86 on 10.5m shares(including the 82k nil cost options vested in the year), and a further c.9.4m which were purchased in 2020 @ a $ converted vwap of $2.32.
All off the bottom line. Half way through 2020 and the full year trading performance is already compromised by this latest resolution to cancel, assuming the Board takes the full hit in 2020.
And the treatment of the write off is irrelevant. Whether the auditors are convinced that it’s an exceptional item or not, nevertheless that’s hard earned cash out of the bank and into the bin with no tangible benefits accruing.
So, unless there is a dramatic improvement in poo, GKP are staring down the barrel of another breakeven year at best, and that without taking into consideration any plans for further dividend initiatives they might contemplate, which can only be paid out of profits anyway.
Meanwhile the Board have also resolved to spend more precious cash on share buybacks to treasury, up to 23m shares in principle, while junking 18m they already have and don’t need, sacrificing the P&L for the year in the process.
This with unanimous shareholder approval.
It’s almost as if P&L performance is no longer the name of the game. As if it doesn’t matter.
You couldn’t make this sh*t up.
Unless it’s part of a greater plan. Let’s hope so.
All IMO. DYOR.