Spyglass Resources Corp SGLRF

dividend announcement today or tomorrow??

[shambano1]

if ever there was a time to cut the dividend to a repectable 0.0175 or 0.015 , it's this month with the produciton curtailments at Dixon and new capex programs for h2-14 barely started.

the glauc well is performing well so far and with 2 new locations in q3, it could definitely stabalzie or even grow oil production in q3.  The Noel well was very successful and with 85 future drills, all they need is a JV partner to put up the development capital.

but lower oil produciton in q2 and q3 due to dixonville might convince the managemetnt it's time for a cut?

I guess we shall see real soon but I don't expect a major drop in SP due to a dividend cut and if it drops I'll will buy more shares because longer term they have some good assets to develop and grow produciton and CF and hopefully dividends???

I'm long and biased so DYODD