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

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Post by PROtradingon Nov 11, 2017 2:12pm

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Post# 26945556

Look at the charts on this one

I won't profess to know much about this play. It's one of these funny "we pay high dividends like a REIT" play. Yeah management has 25% of the shares but they have also been selling in the past months into any strength.... Once they start buying, I might get excited.

If you buy here, watch the charts and trends.

The stock tends to tank into mid month. The dividends gets announced and there is a pop. Might be a good trade.

BUT some longer term things that REALLY worry me are:

1. Are they really able to pay the dividends ongoing. Their debt is covenant AND review based. That gives all the power to the smelly banksters on this play and there are MANY. Including the boys at the National Bozo outfit. Those scumbags have made me a ton of cash with their attrocities.... I LOVE to HATE them. And also HATE to LOVE them! LOL !!!!!

2. The little accouting games might catch up with these NON-GAAP guys going into IFRS accounting.... This is where the kitchens are reviewed and external eyes go: "Naw, the pots go there, the pans go here and the spoons and forks have to be alligned this way" LOL Read the MD&A for more detail on that point of view and give me details if I'm wrong.

3. I've got some bad feelings about the CEO, maybe he should join Toastmasters or something to stop using "over here" at the end of every freaking sentence!!! He sounds like a Costco food testing lady that drives me NUTS! LOL

4. Tax selling season. If #2 gets more press play, this might be a very good speculative buy but not for the faith of heart...

Can we hear from the increasing shorts on this play? And please guys, admit to it ok? You give traders a bad name by being 2bit scumbags! LOL

Short Positions for GXO

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : GXO	2017-10-31	1,051,979	51,948	34,190,652	3.08
T : GXO	2017-10-15	1,000,031	324,636	34,190,652	2.92
T : GXO	2017-09-30	675,395	70,936	34,190,652	1.98
T : GXO	2017-09-15	604,459	28,786	34,168,724	1.77
T : GXO	2017-08-31	575,673	88,983	34,168,724	1.68
T : GXO	2017-08-15	486,690	298,691	34,168,724	1.42
T : GXO	2017-07-31	187,999	-16,800	33,722,724	0.56