I would be shocked and appalled if the board start acquisitions in the upper half of the oil-price cycle again. The lesson from last time – learned at enormous cost in terms of wealth and lost opportunity for all of us – is that the top of the price cycle is for accumulating liquidity. The bottom of the cycle is for poaching over-sold and distressed targets.
If the board stupidly step onto the debt/dilution road again I will be bailing.
STO Price at posting:
$5.90 Sentiment: Hold Disclosure: Held
