Spyglass Resources Corp SGLRF

dividend announcement today or tomorrow??

[shambano1]

if ever there was a time to cut the dividend to a repectable 0.0175 or 0.015 , it's this month with the produciton curtailments at Dixon and new capex programs for h2-14 barely started.

the glauc well is performing well so far and with 2 new locations in q3, it could definitely stabalzie or even grow oil production in q3.  The Noel well was very successful and with 85 future drills, all they need is a JV partner to put up the development capital.

but lower oil produciton in q2 and q3 due to dixonville might convince the managemetnt it's time for a cut?

I guess we shall see real soon but I don't expect a major drop in SP due to a dividend cut and if it drops I'll will buy more shares because longer term they have some good assets to develop and grow produciton and CF and hopefully dividends???

I'm long and biased so DYODD

[TimeBuilder]

News is out..... .0225 record date July 28th pay date Aug 15th. Also long, strong and very patient...Regards, TimeBuilder

[Joe454]

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[darkstream]

-they are playing the same game that LTS did with Wright being a major board member of SGL and CEO of LTS -div. wont be cut until Feb. 2015 under this scenario and share price approaching $1 will be the result -it will take 3X longer to climb out of the hole-hold what you have but its not the right time to buy anymore unless there is some major news

[sanityseeker]

I would never try to predict share price in short term and I am not expert enough in Geology to make a very safe bet on future drill results. However, after taking a closer look at the past five quarters reported and the guidance at each quarter I notice the following trends: 1. With the exception of one quarter, forward production guidance is routinely reduced; 2. Debt levels increase; 3. asset

[Joe454]

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[sanityseeker]

I have no need to bs you. I bought some on a brief dip on Q2 earnings release for $1.57 and previously at $1.80.

[sanityseeker]

With the dividend I am a bit btter than break even on the1.80 tranche.

[Joe454]

This post has been removed in accordance with Community Policy

[shambano1]

don't forget capex in q2 is not a big capex quarter, so maybe even with the produciton disruptions, they were able to cover dividend?  Just wondering here. additionally, q3 may see  shut in produciton coming back up, adn new production from Noel well and Gluac well helping with CF. If the glauc well can produciton 500-600 boe/d without restriction and 2 more glauc wells to be

[svager]

Confidence will only appear with the stable and growing cash flow.

[skygarden]

In this case I would have to agree with those who say the dividend should be eliminated until they are able to get their act together.  The dividend was reduced once before the company formed and even with that reduction they could not grow the company.