Spyglass Resources Corp SGLRF

falling knife

[shambano1]

who wants to catch the SGL falling knife?

I might start a program buy with buys every 0.05 cents and see where she ends up.

why would I buy SGL with all of the problems that most on this forum keep telling me about over and over again???

P&P VAVPS = 4.53 adjusted with asset sales up to jun 30 2014.

the discount to nav seems a little over down to me.

the dixonville (sp) problems were not a results of bad management in the short term but possibley neglect for proper maintenance from previous manages.

the noel well is a good well and with 85-90 future low risk drilling locations in this cadomin resource, well that is a lot of NG for any company.

NG prices have stabalized and will go up slowly over the next 10 years so this play has lots of running room.

this company still has 590,000 acres of land to explore on.

once dixonville gets back on track and these new viking wells and glauc wells are hooked up production should stabalize and pssobley start to go up.

the dividend cut will help with capex and debt reduction if commodity prices go higher .

yes I agree SGL has had their fair share of problems but I believe things are starting to get better not worse.


costs have come down which is a good thing.  they did hedge theri oil produciton which is a good thing, so the new ceo will make his mark on this company.

they are still looking at more asset sales which will reduce dfebt even further and then if commodities co-operate they will do just fine.

1000 drilling locations in the viking can be a grow produciton for many years as long as oil prices stay high.

so in summary, SGL has not performed since enception, but they have made the right decisions to lower dividends, and debt and still more to come.

to me SGL has turn around potential, plain and simple.

it will take time and in this market nobody wants to wait to make money but I fell SP will be hihger in 2-3, years than the current price and maybe by a magnitude of 1 or 2 higher.

just me 2 cents, DYODD

of course I could ahve bashed the company just to help scare more investors into selling their shares so I can get cheaper and cheaper shares.

so yah SGL management such, their plays such, their strategy sucks, everything about SGL: sucks so dump your shares before they go to 1.00.

DYODD and GL