Spyglass Resources Corp SGLRF

RE:Spyglass to sell 50% of Dixonville Montney C for $100M-

[power_auditor]

Very nice move by SGL to reduce their debt to $195M and still retain 50% of the very,very low decline Dixonville field...if the field gets back to a production level of around 3100 boe/d...all the better for both parties.

SGL just spend millions to fix the leaks at Dixy...and now they will collect the insurance pymt and a very nice chunk of change from the Americans,which seems very fair for both parties.

The only question mark:  the reduce 2015 prod. number....~10000 boed.....now I am thinking they have sold something else to get to this number since they were closer to ~13500 boe/d a month or two ago.....Question for the CC today for sure.

Hate to lose that nice little dividend pay-out every month.....but it is just suspended for the time being....I can wait them out for a qtr or two to see what happens at the next AGM....~10000 boed without a dividend is kinda of boring unless the this move is just the start of something bigger......dividend gone....what are you going do?  Cry about it?   Only a novice would....you take what is given and work with it....or just move on to other plays.

I am sticking around as anybody who can sell ~1250 boe/d for $100M in this mkt deserves a bit more leeway.....but never a free pass...even though the shareprice has dropped from $2.00 to 0.35cts in less than a yr...patience yes...as long as the plan forward now is going to re-coup the lost shareprice value that has happened on mgmt watch....I can wait a bit.   Events change and the times change....the mkt as we have all come to know are never,ever static....shareholders need to be as well...unless you are the poster on here who has a very very strange track record of thinking mgmt forces you to buy their shares!

GLTA

****If TDWaterhouse is buying shares for you in the mkt from the dividends you are receiving here and depositing them in your account....that is not a company(SGL) sponsored DRIP...it is just a plain share purchase plan using TDWaterhouse as the vehicle to facilitate your purchase and if they charge you a commission or not is an individual call....maybe some investors who use a broker can get them to reduce the commissions?  Who know  and frankly now that the SGL dividend is suspended the SPP wiill only apply if to the common shares if a investor wants to buy a certain amount every month on a schedule....just like a company sponsored SPP that some companies offer their employees.

Any true Co. sponsored DRIP that allowed a shareholder to purchase their shares at a discount to the last 5 days shareprice would have increased the sharecount .....as we can all see here...or most of us....the sharecount has stayed at ...~128,100,000 through out 2014 and now might even drop or might not.