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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 > Shorts having their way.
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Comment by agoldbloomon Aug 14, 2018 10:21am
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Post# 28456322

RE:Shorts having their way.

RE:Shorts having their way.Definitely oversold however analysts are turning their back on the company now.  I'm seeing reports coming up with big target price cuts (RBC just cit to $3) on the back of this quarter.  The problem for oil and gas companies is that they need injections of capital when finances are the worst (due to the price of oil) and then have money thrown at them when the price is high and they are making money from production.  That's the boom and bust of the sector.  It's too bad because in a better investment environment, GXO would be considerably higher than where it is now, and financing wouldn't be an issue.
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