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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 Sjakkspillon Jan 26, 2018 7:29am
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Post# 27438683

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

RE:RE:RE:RE:RE:Expect another dividend cut I would say that the drilling program for 2017 was rough enough. They drilled 8 wells. One was a completion well to test new technology which the company was pleased with although the well was poor. 4 wells turned out to have been drilled to close together (125 meters). In addition to unfavorable decline rates the oil to gas ratio was less than desirable. 3 were very good.Took a big gamble on drilling so many wells that close together instead of just trying one first. I’m confident however that by going back to 200 meter spacings that production will soon be back on track.
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