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

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Comment by JLaGourgueon Feb 20, 2011 11:23am

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Post# 18166324

RE: RE: VERY Good Move!

Another way to look at it: The stock moved from 2's to about 5 on operating losses last quarter, but hype on Alberta Bakken. With not even a single barrel flowing of oil announced in specifics, DTX just acquired 100M+ hard, real, producing and cash flowing assets on spec premium. There's risk in every drill and frac job for the Bakken, and each well can come on anywhere from 0-xxx barrels and costs $3-4M to drill. My hats off to Mr. Cheyne, because if these wells are difficult to bring in, he just doubled the size of his company with no risk... That being said, I am not a huge fan of gas, either. It will be nice to see flow rates after the frac.

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