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Spyglass Resources Corp SGLRF

Energy Oil & Gas E&P Energy
Spyglass Resources Corp is an oil and gas exploration and production company that conducts its operations in the Western Canadian Sedimentary Basin. The Company is a dividend paying, intermediate oil & gas company that trades on the TSX under the symbol 'SGL'. It operates oil and natural gas properties in Alberta, Saskatchewan and British Columbia.


GREY:SGLRF - Post by User

Spyglass Resources Corp > Asset Sales
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Post by linus4on Nov 29, 2014 1:48pm
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Post# 23177247

Asset Sales

Asset SalesInteresting to note that SGL has raised around $85 million through property & production sales this year (they said to reduce debt levels & strengthen the balance sheet) BUT the debt level is still around $300 million....Where did this $85 million go ? & why have they been saying these dispositions were to pay down the debt?This management group has been a disaster as far as being stewards of capital & are slowly but surely allowing the Co. to waste away..They could not turn things around last yr with very high oil & gas prices & will be in worse shape now with the slide in crude prices...Cue the 'fat lady'.
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