Granite Oil Corp GXOCF

Where's the expected "Pursuing strategic alternatives"

[HansProPicks]

There's no reason for the price to be where it is.  Cdn small and mid cap oil and gas are clearly in bear market territory however, given a dividend of 12% or so and the fact that differentials have no where to go but in a positive direction, why the continuous selling?

I think it's a fund selling out.  Once they're done, the stock should recover quite a bit as long as they don't make any rash decisions like cut the dividend.  Keep the dividend, wait for the markets to turn, look at alternatives, and look for a dancing partner to sell out to.

If they are going to cut, I'd like to see a share buyback to put a floor under the stock.  10% daily losses on no news is a bit ridiculous.