Sometimes it's more prudent to buy back under-valued shares than it is to do other things, companies do it all the time. Maybe just spending it only on drilling isn't in the best interests of shareholders with a depressed share price. I suspect what we are up against is an ego problem with some board members. Or is it they are afraid and unsure what to do and prefer hiding from public view? Whatever their difficulty is, I for one say they are not doing their job.