Spyglass Resources Corp SGLRF

RE:Happy Bankers?

[cender]

Clearly they need to sell a large chunk of assets so they can focus in core areas and increase drilling , the property they are trying to sell currently (450 b/d)  might get them $30 mill.  I think they need to sell about  2000 b/d of  production to bring the debt down to $200 million ,cut dividend  by 50%  and double the drilling in the best areas. Revenue will fall initially  but climb rapidly shortly thereafter.  As we have seen,  $60 mill./year drilling does not even begin to replace  production declines .