Bankers Pet Share Discussion Threads

[strollingmolby] 24/10/2010 00:02

Hawks, I'm still not sure I follow what Fastrade are doing, so feel free to ignore this, but if you have tax-sheltered accounts within their "combined feature" valuation then no reliance can be placed upon it for your tax return and you would still need to keep your own records.

Sounds like they need further systems development before customers can place reliance on a "CGT service" - whatever this entails.

ATB,

SM

[hawks11] 23/10/2010 20:41

Sander - I have bought and sold amounts of one or two 1000, but at times find it difficult. I bought some this week as I have said above.

Strolling - I agree with you, this is what they said in reply to my query:

"On why these rules are applied to ISAs, we are told that the HMRC have left as an open question how such book costs should be calculated and that a CGT basis is thus no less correct than an averaged basis. Should they ever introduce, for example, a lower rate of CGT to apply to ISAs, then we'll already be correct in how our book costs are calculated. We need to be consistent across dealing accounts, ISAs and SIPPs for the purposes of the "combined" feature within our valuations. This facility allows clients to view all of their holdings in multiple accounts together in one valuation. If the book costs aren't calculated the same way, then we would be showing books costs that are both averaged and calculated on a "matched" basis on the same page, which really wouldn't make any sense at all."

Then they refer me to Helpsheet 284 Of HM Revenue and Customs docs. I have tried to read that, but when it comes down to it they are talking about which transactions relate to CGT but do not refer to ISA's. I'll have to spend a little more time on this next week.
They seem to be saying that they are treating all holdings such as SIPPS, ISA and dealing as one which makes it a nonsense of having an ISA account. Their averaging did come out to my benefit in my dealing account once but I havn't enought to worry about there yet.
I will have to try harder, as is already plain BNK is difficult enought to deal in in any case so will just hold on to my small amount for the profit at the end I hope.
I like Fastrade and have been with them for a long time but I may just ask if they are allowed to do this. I am down in my dealing account over the past couple of years, but doing ok in my ISA.

[sander4709] 23/10/2010 09:20

Not having the benefit of L2... can anyone tell me NMS or availability for these?

I'm finding is hard to buy BNK shares. I tried many times yesterday using Fastrade. Admittedly I didn't try setting any limits but I feel it is a bit like fishing in the dark as I can't see any trades at all on AIM. Does it also trade on Plus?

All ideas and info treated with appreciation!

S

[strollingmolby] 22/10/2010 09:21

Eh? Hi hawks - are you paying fastrade to be your tax advisor? I've never heard of a broker deducting CGT, which of course isn't payable on ISAs. Am I missing something?

SM

[hawks11] 22/10/2010 07:47

I managed to get back in on Monday and pleased to buy inside the spread at 408p, followed by this rise and I thought I had it made until Fastrade hit me with CGT so despite the rises I am not yet at break even. They have given me all the figures and explanations. As my holdings are in an ISA I didn't expect this which is why I hold the shares there rather than a dealing account with all the resulting arith metic that involves. It's all the averaging it appears and I have made too much I suppose so I should be pleased. Back into profit soon I hope.

[hawks11] 18/10/2010 16:43

I just looked back in expecting to see this forging away but thankfully not. I will leave a reminder to get back in asap. It is well worth reading the comments by DJPreston on BNK for anyone remotely interested. It is a difficult share to buy/sell though with a terrible spread but back at £4ish I think it is time.

[themoneymonster2] 07/10/2010 14:33

Guys take a look at GED also.

They already produce over 1,000 bopd and are set to ramp that up to 1,600 bopd by end of 2010.

They have a target of 169p. Core Value is 213p.

The unrisked upside is over 1,100p.

The market cap is only £22 million so compare that to LGO today, it's a nil brainer. LGO only currently produce 2-300 bopd and the market cap is £33 million. GED is currently only 65p to buy and off the radar, for now.

Might have to email that broker Dan the details : )

from lse:

GED could exit 2010 producing 1700 bopd looking at the production from other tilordan wells. catching RPT for 2nd place in the top AIM oil producers! If the plan comes together within 2 years GED will be producing similar amount to BNK and similar P2. BNK market capital? anyone? hmm

Up and coming drill also scheduled.

Forgot to also point out, GED's EPS for 2011 is set to be 58pps. That means GED are currently on a rating of just over 1. That can't be right. I would think a rating of 5 would be more like it? 300p target?

For broker notes see:

[hawks11] 30/9/2010 14:24

Well, just looked in and blow me down we are up 3.70% and this trade was right at mid which must be a first for BNK.

490.00 2000 14:15:22

[hawks11] 30/9/2010 07:55

Thanks for that SM, I think my money is safe but I won't be pouring in more for a while.

[hawks11] 23/9/2010 19:59

I suppose that little drop should prevent another buying opportunity but these are so sluggish with a silly spread.

I think I meant present a buying opportunity.

[hawks11] 22/9/2010 19:38

I have just listened to the presentation which I recommend to anyone slightly interested. It still sounds impressive and they are doing what they set out to do so I will maintain my moderate holding.

10,000 bopd currently
15000 bopd by year end
24000 bopd by end of next year helps to encourage me.

[hawks11] 17/9/2010 09:50

Perhaps a drink would help you remember that you created and dumped those threads.

[hawks11] 12/9/2010 11:47

Withe the slight rises lately posters have arrived on the other thread. Typing the word thread reminds me of the worst part of BNK - the spread. I did say I wouldn't buy a share with such a large spread but here I am. Only popped in because I was looking for a spare part for my aging CD player on the net and couldn't resist.

[mrx001] 10/9/2010 22:41

On only 5219 shares trading? Must be somemore elsewhere.

[nigelpm] 10/9/2010 21:33

Nice movement today.

[hawks11] 18/8/2010 17:47

And suddenly..

[strollingmolby] 13/8/2010 12:58

Half-yearly report out - all appears on track...

[hawks11] 08/8/2010 11:32

As per Stockapedia where I am Salty (wouldn't it be nice to keep the same nickname) last year in August we had a conference call on Monday 10th August followed by a second quarter Financial and Operational Results on the Friday.
This would tie in with this coming week or perhaps the next unless anyone knows any different.

[strollingmolby] 27/7/2010 09:37

Listened to the AGM recording last night, which i found pretty informative with Abdel Badwi taking the audience through the presentation (from 13 mins in after formal proceedings - link on BNK homepage).

A question from the floor at the end asked if any production from the horizontal wells had reduced. Badwi replied that none of the wells, some of which are 15 months old, have shown any decline at all in production (ave 160 bopd each).

He also highlighted the steam injection (Thermal Pilot) program which if successful will lead to a significant shift in OOIP to Recoverable Reserves in 2011 (hope I've got the right categories there).

[strollingmolby] 26/7/2010 15:19

Very little volume recently but creeping up again. I assume interims/Q2 numbers will be released in mid-August again?

[hawks11] 15/7/2010 11:50

I've had to move more over to SIA for a while with the latest news, even though I knew they were to spud today, but will probably regret it as BNK moves to it's own tune - or I am tone deaf.

[strollingmolby] 15/7/2010 10:06

Hi hawks11,

That's a good point, there must be interest for many oil producers to secure a company that is targetting 15k bopd by Jan-11 and 24k by Jan-12. And in the largest onshore field in Europe, with a favourable tax regime.

I'm happy for BNK to be under the radar for a while longer to allow me to buy more when funds permit. And nice that this thread is quiet and devoid of nutjobs and rampers for now.