Spyglass Resources Corp SGLRF

RE:RE:RE:Spyglass declares 2.25-cent June dividend

[cender]

"nice to the Cessford marked on the map"   ... lets  cross our fingers for a second and third  well in this
 
area with large flow  as I know they are building capacity  around it - maybe its the ace in the hole ?  

I wouldnt say I am a  content shareholder  but for now but I am holding   because   I see the potential in Spyglass regardless of the wreckless dividend policy and seemingly uncertain direction forward .They have three nice core areas to capitalize on and let's hope they do not squandor it   like we have witnessed time and time again with other  companies in this sector carrying on with a dividend right to the brink of collapse. As another poster stated this could all be engineered chaos to keep the share price low ,scoop up millions...then come to the 'rescue'  - it's the only thing that explains it !

I have listened  to Buchanan go from 'we dont have a debt problem' in Sept. AGM  to  ' we do need to address the debt issue'  at his latest outing .  This after selling $38 million in land+production over the last year saying  time and again it will be used to pay down debt or increase drilling neither of which I witnessed - and that is what sets off alarm bells . Where did this money go ? ... obviously the expenses  are beyond what they had imagined .  Now he speaks of selling off even larger chunks of production and land  to make more imaginary debt payments I  assume .  Let us hope this does not end with production dropping to 5000 barrels of the good stuff with the same debt load . Its the past record of wishful thinking that scares me and it just seems prudent to cut the dividend until things are sorted financially .