Granite Oil Corp GXOCF

RE:RE:RE:Granite News!!!!!!!!!!!!!

[artyfoo]

Not a good deal for long term investors but a good one for management, GMT and short term investors.
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IPC has identified a number of drill-ready opportunities that it believes could add further near-term production of high netback, light oil barrels.
 
The Assets will be managed by IPC’s existing Canadian management team, with support from the operational teams currently working with the Assets.
 
Mike Nicholson, CEO of IPC, comments: ‘‘We are very excited to announce our third acquisition of high quality operated assets in less than three years since IPC was created. The acquisition of Granite provides access to a new resource play fairway that adds additional reserves, resources and production of long life, high margin light oil with significant growth potential. We believe that we can more than double current production levels within the next three years, more than fully funding this growth with the cash flows generated from these assets.’’
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So, they kept the price down and bought back share to average down.  Then they make a profit selling the company while keeping their current jobs with IPC while IPC execute Granite oil plan...

That just confirm that this is not a good deal for investors!!!