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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 > Dividend
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Comment by CDNOilInvestoron Jan 03, 2020 12:35pm
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Post# 30515606

RE:Dividend

RE:DividendPage 8 on the posted public Presentation...  No room for Divy.
more money on Abandonments than exploration or gas purchasing in the last 3 years?  Ending 2020 at 1.7x D:CF, this is not enough for a dividend reinstatment.  Under the current model, looks like it can never be reinstated, maybe a special dividend in 2021, end of year.  Maybe.  This company needs to be eaten and hidden by something larger so the field can be re-pressured - that's what I am reading between the lines on page 7 of the ppt.     

GXO Management Q: Why are you abandoning the shallow gas field at $2.40 AECO?  It makes money now, so open the taps boys and pay the debt down FASTER.  Put a little sugar in the next press release...


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