Jury duty is over, and words cannot express how frustrating it is to have my mobile phone locked away from 9am to 5pm to be in a courtroom while small cap stocks are melting down.
VET: I don't like them buying assets with debt, and then selling some legacy assets to repay it. The sale usually comes with an impairment, suposedly non-cash, but that cash was spent in the original acquisition! I'm afraid we'll see another one when they announce the sale of Saaskachewan assets. I thought we won't go below 8, but here we are at 7.4.
Allegedly the acquisition was opportunistic, which could be true due to contiguous acreage. Or management could be empire-building liars. Time will tell.
VET: I don't like them buying assets with debt, and then selling some legacy assets to repay it. The sale usually comes with an impairment, suposedly non-cash, but that cash was spent in the original acquisition! I'm afraid we'll see another one when they announce the sale of Saaskachewan assets. I thought we won't go below 8, but here we are at 7.4.
Allegedly the acquisition was opportunistic, which could be true due to contiguous acreage. Or management could be empire-building liars. Time will tell.
Is $VET a buy at these levels?
I absolutely think yes. The big risk is management continuing to do acquisitions instead of buybacks. But even then, cashflow per share increases.