Granite Oil Corp GXOCF

RE:RE:Double or Triple based on recent purchase metrics!

[Valueseeker18]

This will be bought on reserves and accretive at 3 plus to many firms who could allocate cash to the 85 locations GXO has and that can be brought on at top decile f&d costs. The debt will be assumed as it is backed by real and cheap reserves that you could not get on a greenfield or on many internal projects of potential acquirers. Debt will also be assumed as an offer will require 66 2/3 shareholder approval (with small instituitonal blocks currently so to get that approval the offer has to be fair) and no one will be giving their shares away unless a bonafide offer of $3 plus comes.

So happy to clip the coupon until then! The debt to continue the dividend is manageable and lots of tools to still mitigate if and when required (overriding royalties on crown land locations, infrastructure lease backs, and or acquiring cheeplight oil reserves themselves!).