Spyglass Resources Corp SGLRF

No news about dividend

[PUNJABI]

Lot of companies have already announced Div. I have not seen announcement from SGL. Normally they are the first one. They usually pay one to two day before most.

The delay could mean no div or cut in dividend. They are choosing a bad time to cut . The big slide in share price could is market related but the sharp drop to about $1.00 could be some know about it already. The price target of $1.00 from Scotia has become a reality.

With WTI around $80 for a while SGL is going to have problems. Huge debt & huge total payout ratio. I think DIV is gone.

RBC has come out with stress test for 2015 e for oil companies which show the impact of $80 WTI. I did not see SGL included in the report. I do not know the reason but they should have been included in Junior section. There are quite a few companies which will have to cut dividend. Among the intermediate group only one WCP would have effective payout ratio of 98 % all other will be above 100 % about a dozen with over 200 % there are some that will be over 300 % with WTI at $80 / b

SGL will not be the only one cutting the div if oil stays around $80 for a while.

https://rbcnew.bluematrix.com/docs/pdf/69380a37-4d4b-4623-93ee-2af696e08bce.pdf

[Kherson]

Spyglass now has no choice but to eliminate it's dividend and accelerate paying down it's debt or expanding production. The dividend model is over for Spyglass... Kherson

[PUNJABI]

I have to agree with you. Company has to go into survival mode immediately. Company should come out with their stress test & a plan to deal with lower oil prices. You have to see if this management is upto the task ?

[Joe454]

This post has been removed in accordance with Community Policy

[power_auditor]

Why?   Are they FCF negative Kherson?  13300 boe/d even with a $15 or so net back gives them flexibility to weather the next few months....I do not see a reason to "panic" as you believe they should.  The CEO for some reason was not able to stop the slide in share price so why should he "panic" now????!  A nice small clique of people in Calgary moving from

[skygarden]

It's not a question of panic--it's a question of adapting to changing market conditions.

[power_auditor]

Changing market conditions?    Hmmm....What did mkt conditions have to with company operations especially in regards to actually restoring operations in a timely fashion? Better yet why did shareholders equity vanish by almost $100M...$100M...quite a number for a company with only 128.8M s/o...because pipelines leak sometimes?  Who knew...Is this not one of the reasons to have a

[skygarden]

I think their performance is well documented both in the share price and in previous comments.

[sanityseeker]

For a sensible assessment on what's wrong with this company, I refer you to my past posts, back when it mattered. The discussion at this point is largely irrelevant. If management has less foresight and diligence than a small retail investor like myself with no insider knowledge, there is not much of an operation to salvage. i managed to unload all but 600 shares slightly above my cost at

[eusdond]

This management team is quiet possibly the worst in small cap Canadian E and Ps___  The other contender for the worst are the boys over at Lightstream...

[Kherson]

I never said that I am blaming mkt conditions for our vanishing equity. Looking back, I blame our former CEO for our woes. Having said that, I still have faith in our assets, the question is, can management deliver? Now since the mkt has turned negative for oil, SGL will have to plan accordingly. Eliminating the dividend is not a sign of panic, but a sign of being prudent... Kherson

[Kherson]

[Kherson]