Spyglass Resources Corp SGLRF

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.

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Spyglass Resources Corp > Project Wolf Creek

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Comment by Khersonon Sep 24, 2015 8:17am

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Post# 24130748

RE:RE:Project Wolf Creek

Kherson wrote: By September 30th, the Market will also know what the new Guidance will be for 2016 as the lenders are requiring StainGlass to have their liquid commodity swaps in place by then. The nat. gas swaps have to be in place by October 31th. I wonder who will be on the other side of the trade of these swaps, National Bank?
Sadly, any uptick in oil and natural gas prices in 2016 will not be realized by the shareholders of this company. What is funny is that the National Post recently ran an article where National Bank's CEO Louis Vachon stated that "companies are worth more alive than dead". Well, if Louis and the gang get into the swapping business big time, forcing companies like StainGlass into unfavourable swap terms, then yes, these companies are now worth alot more to the banks.
Louis, would it not be a good time to relax debt covenants for companies like StainGlass, instead of tightening them, especially after the EIA is projecting a decrease in North American oil production for 2016? You are in fact leading a bank, not the mafia!
Getting back to the Wolf Creek Project, it would seem to me that a $35 million deal still has to be agreed upon by September 30th, therefore will we see the Dixonville being sold to Eagle by this date?
Kherson