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Bullboard - Stock Discussion Forum 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 Discussion

Granite Oil Corp > news out Credit Line adjusted
View:
Post by traderlong2 on Dec 22, 2017 9:03pm

news out Credit Line adjusted

 

Granite Oil reduces credit facility to $50-million

 

2017-12-22 17:38 ET - News Release

 

Mr. Michael Kabanuk reports

GRANITE OIL CORP. ANNOUNCES CREDIT FACILITY AMENDMENT

The semi-annual review of Granite Oil Corp.'s credit facility has been completed. The company voluntarily reduced the availability under the credit facility from $60-million to $50-million, consisting of a $45-million revolving demand credit facility and a $5-million revolving demand operating facility. The company has sufficient liquidity and financial flexibility to execute its business plan.

Comment by spacegimp on Dec 23, 2017 5:06pm
only $8 million left  before the bank steps in  , this cant continue with falling production  so the entire divy must be axed anything less is not prudent 
Granite Oil Corp
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