Granite Oil Corp GXOCF

Higher oil price should lift GXO

[agoldbloom]

With its leverage to price, how much of a difference does $75US oil make for them?  Sure there's a cdn discount which really isn't fair but that's beyond management's control.  I have to look a little closer at their hedges to see how much they benefit from the rise in oil prices because they really should be much higher than they are now.  Others have suggested a cut in divvy which certainly seems prudent when other companies have taken the hit and done the same, and are now recovering nicely.  But this is late in the game and they've committed to the divvy despite increasing their lines. Management should read the tea leaves better but in the end, the divy is still going and perhaps the rising price of oil will bail out their decision and flush the company with cash (to pay down debt etc.)