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 nijinsky70on Oct 04, 2012 8:57am

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Post# 20446275

RE: RE: ?

Yes, Gasman book value to a resource stock in the absolutlely most meaningless number. Just take the two examples.

a). Image that there is an oil company - say Company A - with $10 million in net book value and 10 million shares outstanding (that equals to $1 a share of NBV) and they found not a drop of oil. This company is worthless in real terms.

b). Company B with $5 million in net book value and 10 million shares outstanding (that equals to 50 cents a share of NBV) and they hit a gusher and have 100 million barrels of reserves. In real terms this company is worth billions and yet only has a BV of 50 cents.

I think that clarifies everything.

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