Spyglass Resources Corp SGLRF

RE:RE:RE:RE:RE:RE:The question is , Is the dividend safe?

[power_auditor]

When I look at the Co. Seatleslim I am zeroing in on the ~14000 boe/d..give or take 200 boe/d for "slippage" or whatever... the people(still 200+?) running this operation and  they all seem to have been around the oil patch around the time Premier Lockeed was in office....30 yrs or so...more than qualifys'  them as being in the oil and gas business.....

The last Q3/14 report had them with a $29M CapEx...which destroyed the balance sheet(fair enough)...but they are due ~$25M back from their insurance claims.....Where is the funds from the ~13512 boe/d going to...somewhere similiar to the following it seems:

*****Q3/14  Operating Expense        $19.49 bbl
                     Operating Net Back        $19.60 bbl
                     Cash Net  Back               $  9.58 bbl
                     Dividends Paid(0.015)   $  64050.00/day
                     Fund Flow From Op's     $132,200.00/day  or $129,400.00/day using cnb of $9.58

For an example a 20% cut in the cnb = $7.664bbl x 14200 boed = $108,829.00/day.....and vice versa would be ideal...a 20% increase....$11.496bbl x 14200 boed = $163,243.00/day


Can Spyglass Resources be managed/operated to a higher standard of efficiency?

I believe they can be....a $2.00 tgt does not seem out of context.