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Bankers Pet Share Discussion Threads
Showing 251 to 272 of 275 messages
|Well 5 weeks to completion back in june, morphed into 4 months, but it is good to finally get there.
Cash due about 7th October for completion of the deal.|
|The vote was fairly unanimous, we just need to wait for two regulatory approvals and completion in about 5 weeks. But has geo-jade raised the cash yet ?|
|Albania-focused heavy oil producer Bankers Petroleum Ltd. (BNK) added five cents to $1.83 on 2.08 million shares, after releasing an operational update for the first quarter and trying to boost investor confidence in its proposed takeover offer from China's Geo-Jade Petroleum Corp. Geo-Jade offered $2.20 a share on March 20, but the stock, though it jumped up eagerly from around $1.10, has since stayed stubbornly around $1.80, demonstrating shareholders' skepticism that the offer will go through. Geo-Jade is a difficult buyer to assess. Its shares were in a trading blackout from Sept. 18 to today, apparently because the company has been working on a "material restructuring" (according to Chinese-language documents). The restructuring was announced with and includes the $575-million Bankers deal, as well as the 8.2-billion-yuan (about $1.6-billion) acquisition of a Shanghai investment company, partially financed through a proposed equity financing for up to seven billion yuan. The risk that Geo-Jade will not be able to complete the financing seems to be the largest stumbling block Bankers' investors. Bankers has not really addressed that risk; today's update merely said that the parties "have commenced preparation of the various applications for the necessary regulatory approvals." The regulators are not what investors are worried about. They should get a chance to learn more about Geo-Jade and its financial abilities at Bankers' special meeting to vote on the deal, scheduled for May 31. Bankers wants them to vote in favour. If everything works out, the deal is expected to close by the end of June.
Meanwhile, operationally, Bankers had a quiet first quarter, producing 17,363 barrels of oil a day. This is down from 19,767 barrels a day a year earlier. The drop was no surprise, seeing as Bankers suspended all drilling activity at the end of last year because of low oil prices. It has focused so far this year on its EOR (enhanced oil recovery) programs and a few infrastructure projects that are intended to reduce operating and transportation costs.|
|Here's hoping mate at current exchange rate now £1.18 is deal price|
|Agree Linton,They are paying a fair price for these assets, not an extravagant one.Now the company is in play, there is a possibility that a rival bid arrives.|
|Don't give your shares away cheap guys crazy your playing into there hands|
|Come on mm,s take her lower for me come on 90p please|
|Take my hat to the punter still buying 5k,s easy 10%to be made hehe|
|Currency exchange after deal should be £1.17 to shareholders to sell|
|First of many..and at a healthy premium unlike the Nigerian scam, erm I mean,buyout of Mart Resources by a "local BEE organisation"
|Get in there ya beauty. Well done BNK|
|The monthly oil stock competition for January 2016 as well as the 2016 annual oil competition are now open for entries. Deadline for entries for both competitions is midnight on Sunday, 3 January 2016. All the best in 2016!!!
Concur with your assessment
"Mafia style tax bullying going on here. I wouldn't be surprised if the Albanian government re-visited the other years of tax returns, once they win the 2011 row. Could be the tip of an ice berg."
So bargepole for me too.
"I once considered this a safe haven stock and a good play dancing to the tune of the oil price. I wouldn't touch this one trick pony with a barge pole currently."
Was the main reason I was looking at it as well....and its not a company that had a lot of BB activity,another good sign.|
|Thanks dukedosh. I'll have a much closer look before making any decisions.|
|There's much more to this than the balance sheet bozzy_s.
Mafia style tax bullying going on here. I wouldn't be surprised if the Albanian government re-visited the other years of tax returns, once they win the 2011 row. Could be the tip of an ice berg.
I once considered this a safe haven stock and a good play dancing to the tune of the oil price. I wouldn't touch this one trick pony with a barge pole currently.
Seeing the writing on the wall, the company are already seeking diversity in Hungary. In the meantime, I wouldn't be surprised if the Albanians nationalised BNK. Their words point in that direction and they have history in this area already.
|Spotted this on % losers board today.
Looks like a good RNS and shares unsuspended on TSX, which is the place to trade because of a decent spread of 1.19-1.20, instead of the ridiculous spread quoted in London.
Must say I like the look of these. Profitable, cashflow positive even with low oil price, some oil sales hedged at above today's price for 2016, minimal debt, trading at about 1/5th of it's net tangible asset value.|
|There are a few being bought out there in anticipation of good results perhaps?|
|Congratulations to all holders. This is one I held for a long time back in 09 and 10. I lost faith and didn't follow. I only looked back because I had an email asking if I wished to receive emails from them. They havn't been getting to me, must have been filtered out. I will start looking again. It had a mega spread back then.
|Latest bankers presentation up on bankers website - includes polymer flood details|
'Bankers has 232 million barrels of proved and probable reserves valued at $2.2 billion. That works out to $9.72 a share -- more than 50% above the current price around $6.25.'|
|Up 5.9% today to 375. Value of this share is being recognised by the market.|