The figures most expect hover at around $9.98 billion and with that incredible amount of cashflows, many analysts are almost certain that BHP Billiton Ltd will move for a share buybacks once its financial results come out on Wednesday.

The resources giant's whopping underlying profit during the last half of 2010 has been largely brought by the upward surge last year of iron ore, copper coal and oil prices, which experts said should prompt BHP Billiton to follow the lead of rival Rio Tinto Ltd's announcement of more than $5 billion share buybacks last week.

Analysts are also assuming that with better results compared to its nearest competitor, the likelihood of higher cash returns for its shareholders would be decided by BHP Billiton considering that the monster company maintains miniscule debt listings on its books and no immediate plans of any acquisitions have been flagged following the thwarted takeover of Potash Corporation.

Pengana fund manager Tim Schroders was quoted by The Australian as saying that "following Rio's buyback there is now more focus on BHP's intentions. They have more available cash and it is just a question of how aggressive they will be."

However, Merrill Lynch believes otherwise and predicts that the company would want to hold to its cash for use on future takeover plans and possible giant projects.

Pursuant to its long-term goal of further expansions, analyst Peter O'Connor told The Australian that BHP Billiton will emphasise its focus on growth by "spending on capex and mergers and acquisitions, as opposed to giving billions back in the form of a buyback."

On the other hand, some analysts believe that despite its growth plans, BHP Billiton will still opt for returning considerable amounts to its Australian investors following last year's decision of share buybacks for its London-based shareholders that amounted to some $5 billion.

Analysts said that an off-market buyback could be in the offing for the Australian market, which should range from a low of $5 billon to a high of $10 billion.