02-06-2013, 06:56 PM
In Q3/2011 the BOD announced that they would consider a share buyback. Pre-deal they have not the money to do so, but are convinced that they will receive a large upfront cash payment. So, it is very wise to make a finance arrangement with JPM to purchase back shares when they are still cheap. A side-effect is that they are able to stabilize the shareprice in a very crucial period of the company. Besides, the Interoil fund owners get inpatient with the share performance.