RE: Even more treasures16 Apr 2025 03:02
Buybacks or better known as burnbacks has been an utter disaster for shareholders.
The BOD have burned Billions whereas the 27 Billion debt could have been reduced.....a fortune saved on debt interest.
GS prediction, oil average @ 63 usd per barrel for 2025 and 58 usd for 2026.
If this is the case then the interest that could have been saved would be greater than profit per quarter at today's Brent crude oil futures.
Yip EBITDA....zero profit if it's being burned with Debt Interest.
I will never understand why Board of Directors thinks, being cash positive is somehow a misuse of company funds.