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 > 2.97 Reserve Value Per Share Per Company 2017 report

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Comment by Snowhouseon Dec 20, 2018 9:45am

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Post# 29139652

RE:2.97 Reserve Value Per Share Per Company 2017 report

VS18,

Mr.Market sometimes give such an incredible opportunity. Even at 50% discounted scenario, the current sp is a bargain.
Let's load up more.

Valueseeker18 wrote: Per the companies 2017 reserve report update in March of this year - here is what the entity is worth per share based on last years strip which is

Proved Developed Producing $2.97/share
Total Proved $5.64/share
Total Proved Plus Probable $8.21/share

Their internally generated cash flow should be able to cover the requirements - as well exchange rate is 79-85 cents in this report ie we are much better today to offset the aditional 8 ish million in debt and slightly lower (not materially pricing). 2019 hedges is better than the strip in the report as well - another favor for shareholders.

https://www.graniteoil.ca/uploads/Press-Releases/Granite-PR-2018-03-07.pdf

The present value of the Company’s future net revenues discounted at 10% (PV10) before taxes of Granite’s reserves, as set out in the Sproule Report, plus an internally estimated undeveloped land and seismic value of $12 million, less estimated net debt of $39.8 million at December 31, 2017, per fully diluted common share are as set out below: