Granite Oil Corp GXOCF

Energy

Granite Oil Corp is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The company is engaged in the exploration for and exploitation, development, and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta at the south of Lethbridge.

OTCQX:GXOCF - Post by User

Granite Oil Corp > Expect another dividend cut

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Comment by Sjakkspillon Jan 24, 2018 10:16pm

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Post# 27428965

RE:Expect another dividend cut

The percentage of the dividend doesn’t mean anything. What matters is the sustainability from cash flow. With a $34.50 CA WCS differential, rising dollar and falling production after a disappointing 2017 drilling program, figure it out. According to my calculations GXO needs about a $53 CA WCS price while it’s currently a little under $47. Plus they need to get production up again. They could run the current dividend off the balance sheet for a while but soon something has to give or improve.

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