What i am saying is cutting capex by 200millions will decrease the cash flow and make the ratio worse.
They need to spend to keep the cash flow and do asset sale to low the debt - working from both angles.
Of coz, after buyback, every share will have more asset.
And what I am saying is that is not true if you do what Cardboard suggested. Pair that with none core or even core asset sales, and apply the cash towards debt reduction.
I am confused, to be clear, I am not talking about per share basis.