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 > Expect another dividend cut

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Comment by linericon Jan 25, 2018 3:44pm

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RE:RE:RE:RE:Expect another dividend cut

Hopefully, today's drop to 2.77 will encourage the Shorts to finish with their covering. I watch which brokers are involved in the end of day price suppression. There has been an aggressive manipulation that is ongoing. The shorters do have to keep the price as weak as they can get it. This looks to be an easy target. But they do have to cover and it appears they are slowly doing that

Once they have cleared that up, the SP should take off, especially once the new drilling gets underway. Hard to resist not buying more at these levels. Would love to see a short squeeze.

Of course, there may also be some funds that are selling as the current SP and Div may not meet their requirements. Some may be in at much higher prices and their portfolio gets to look really bad wth GXO in it..

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