markgraf 33, you are exactly correct. There is no way managment would buy back shares. The funds are very much better spent on exploration. If anything, they will go back to the market someday for more funds, including for acquisition.

Share buybacks are for megacorporation in "dull" businesses like Exxon or GM (if the latter had any had any cash).

The price of this stock depends on drill news and the general market sentiment.