Granite Oil Corp GXOCF

Bakken oil? Where?

[pricecheckon2]

Let's be honest here.  There is only one well in all of Southern Alberta which has EVER produced any oil out of the "Alberta Bakken"

Yes CPG and others are buying land at crown sales and possibly there could be some oil in this source rock.  However it appears that this is no Viewfield Bakken as there is virtually ZERO free porosity within the shale sequence unlike the only commercially productive shale oil basins.

Being honest again, brutally in this case.  This management team bought these assets without even having a dream of "Alberta Bakken" so to give them credit for having anything is a huge stretch.  Yes there is likely some option value on developing the resource potential but this company doesn't have the capital strength to be the leader in developing anything.  Therefore imho this stock will be dead money at this point until some results come out on industry activity wells to justify the run-up this stock has experienced.

Check out Bowood as well, another broken poorly run shallow gas company that had been for sale for years suddenly to find that their "management" team has stumbled across a big hot new play.  That takes amazing skill!