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Since the personal placement share price more than doubled , time to cash in half the "chips" and run remainder for free, everything here on is pure profit.
Options been granted that can be converted into ordinaries at around 83p (CAD$1.66) at current $CAD/£ rate. Chief Exec was awarded 4Mns; President 200k; Fin/Chief Exec 350k; and other leading Directors aggregate 800k. As at 2nd April this Co had just under 520 mns Issued Share ("isc"). This demonstrates future confidence and puts the Directors on notice to perfrm. Has been a stellar performer over the last 8 months or so, my guess is that more upside longer term and a growth story continuing to develop.
Proved reserves have been uplifted by 19% to 54 mn barrels. Proved plus probables uplifted by 54% to 156 Mbarrels. and possibles of 96.7m barrels for a total of 253.3 Mbarrels. All working interests are reported today. Proved + Probables Reserves of 147.1Mn Barrels for Albania and 9.5 Mn Barrels for Oklahoma
Further to footprint 5th November. Has received over £5million by issuing the 2nd tranche of stock in a private placing 11.11mns shares to Blackrock Investment Management UK for a consideration of over £5mns. The Co had issued in aggregate 55.6 mns shares to Sprott Asset Management, raising some £25 millions. After these private placements the respective holdings are 15.2% Sprott and 13.8&% Blackrock of the issued share capital. Funds will be used to continue exploration of its 50% Kukova interest in Albania and in the US of A.
On the back of recent Corporate and drilling news. £130k+ paying over the odds suggest someone being serious about this Co and more buying expectedin next sessions.
Drilling report released today indicates that Patos Marinza increased ouput by 12% to 5.34K bopd and represents 24% upside since 2006 equivalent period. All other prospects doing well. Do not take my word for it, but read RNS release 13.00 gmt numbered PRNUK-1302
has announce some rather interseting personal placements. Glad this one was spotted dis I, and pleased to report share enhancing news findings. Nothing has changed, still more to chase for.
BNK. Turnover is purported to be up 74% so this stock is in a much stronger position than when sp was in the 30s. A longer term investment here
BNK. 27% interest in Palo Duro basin, Texas, has been sold to Palo Duro Energy Inc for £9.75Mns, cash of £7.5Mns and the rest in common shares. Funds to be used to fund BNK's capital programme in the US.
Im lost with this stock - appears to be an ok firm with great prospects and yet so little to talk about.
what an SP spread !
Hi, Been checking up on these for a while and it does seem as if they could be worth a small dabble.The Announcement in March (ref your post in Mar31st)actually refers to The Patos Marinza oilfield in Albania , which was a significant licence agreement for BNK...obtaining another 25years of selling and development under Albpetrols license.The Plan of Development includes taking over consolidated areas of wells from Albpetrol and redeveloping between 80 and 120 wells each year for the first four years with a target of 10,000 and 15,000 bopd.It was announced in June that since the beginning of the year of the 50 wells taken over, over 35 wells have been placed on production, increasing current production 50% to approximately 3,450 bopd from 2,302 bopd at end of last year. Based on the success and production to date, BNK is revising its 2006 projected exit production rate to approximately 4,200 bopd from 3,800 bopd. One to dabble and watch....views?
BNK. $th/5th July Directors were in picking up stock. In view of the number of directors buying and the volumes they now hold follow their lead for some near future sp upside.
Low Volumes but do appear to be undervalued. Any views on this?
BNK. RNS released yesterday CALGARY. Probable reseves 99.7mb up from 98mb. Production 1,687 bopd up from 1066 bopd. Revenues $13.709Mns ($3.5Mns 2004) Increase of 294%.Owns land, 3/4K acres in Palo Duo Texas. A pretty good solid positive set of results.
BNK. Sclumbergers Consulting appointed to review Pa;o Basin ops. This news was released yesterday 6pm vis RNS.
BNK. There have been quite a few stock Exchange official announcements recently. The most recent was an upbeat update on the Paulo Duro site. The Co recently raised $50Mns to fund operations. Sounds good on the face of it.
What do you think? Most recent press release sounds upbeat (but I'm no expert), recently acquired futher capital.