Granite Oil Corp GXOCF

Energy

Granite Oil Corp is a Canada-based oil producer based in Calgary, Alberta with lands and operations located in southern Alberta. The company is engaged in the exploration for and exploitation, development, and production of oil and natural gas. Its Alberta Bakken Properties are located in southern Alberta at the south of Lethbridge.

OTCQX:GXOCF - Post by User

Granite Oil Corp > Started to build GXO position again

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Post by BargainHunter88on Jan 31, 2017 10:30am

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Post# 25777215

Started to build GXO position again

Got out just over 5.90 last time, GXO could not seem to get pass 6, a lot lower than I expected based on cashflow.I can't see any fundamental reasons behind the valuation mutiple compression of Canadian oil companies that happened in the last 2 months. Oil may be headed for lower, but Canadian oil companies are so cheap already compared to their US counter parts, and GXO is one of the cheapest. I am long GXO and put USO and EOG to hedge for oil price risk.

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