RE: Proactive investors article2 Dec 2020 22:41
Looks like they are willing to wait:
Commenting on timing, Flegg added: “We can afford to wait as well. Hopefully, investors can see we’re not in a position where we’re desperate to do a deal.
“We want to do another deal soon, but if we don’t we’ve got enough to be getting on with in the meantime to get more value out of our existing portfolio.
“What’s important is that we do the right deal. We’ve all seen many companies that have overextended themselves. Have done deals at the wrong time because they’ve wanted or needed to do a deal.
“It is not just a case of acquiring assets or corporate activity just to ‘get bigger’. That doesn’t necessarily add value. It might look good and it might be good for your ego but at the end of the day, nobody really cares how many barrels we produce. They care how many dollars we make.”
Commenting on timing, Flegg added: “We can afford to wait as well. Hopefully, investors can see we’re not in a position where we’re desperate to do a deal.
“We want to do another deal soon, but if we don’t we’ve got enough to be getting on with in the meantime to get more value out of our existing portfolio.
“What’s important is that we do the right deal. We’ve all seen many companies that have overextended themselves. Have done deals at the wrong time because they’ve wanted or needed to do a deal.
“It is not just a case of acquiring assets or corporate activity just to ‘get bigger’. That doesn’t necessarily add value. It might look good and it might be good for your ego but at the end of the day, nobody really cares how many barrels we produce. They care how many dollars we make.”
“If there’s a deal that brings fewer barrels but gives us more value, then that’s what we want to do.”
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