"i think the CEO's marching orders are to buyback a bunch of shares in 2023 and then sell the company late 23 or early 24.

i doubt they sell for less than pdp."

Agree. PDP will probably rise by next Jan too.

They've likely determined that a 10% NCIB is better to increase shareholder value than drilling at this point. As much as I generally hate buybacks for O&G I agree in this particular instance where the equity is still valued so low.

A bigger fish would pay off the high-yield notes ASAP and use the huge tax pools. OBE is a juicy acquisition target.