Kolibri Global Energy Inc BNKPF

RE:RE:BNK Petroleum Update

[BrokerG]

Upon further review of the last news release, I am concerned.

Nothing is more important than the WLC 14-1H well. This well legitimizes an extension of the field and potentially increases reserves. The well results from WLC 14-H1  may also play a significant role in the new preferred issue. 

The reason for my concern is that after 30 days they find the flowback rates low and the excuse is they have " to retrieve a part that was lodged in the lateral and was likely restricting the flowback". That does not exactly instill confidence in management and their procedures. What do you mean a part? What part? What was the flowback rate before removal of the part?

To make matters worse we are now seeing selling with increased volume. Could be the market makers trying to get cheap shares before the next well update or could be our institutional buyers getting out?

Either way, a bit concerning.

There is no way to gloss over the last release, it was disappointing, to say the least. A micro cap looking to get financing cannot withstand these types of failures. "A part lodged in the well". Are you serious? Who is running this show? 

Look for more selling over the next few days.

Ok I have had my rant.