Kolibri Global Energy Inc BNKPF

RE:My take

[BrokerG]

Since we are discussing valuation, here are some numbers:
Debt- 32 million
Shares outstanding - 240 million
Tax loss provisions - 156 million

NPV at 10%- Proved reserves only = 376 million[ last financial statements-33.8 mmboe $376.8 mm BT NPV10]

If we take the proved reserves only, not the probable or possible we get the following:

376/240 = $1.57 a share. If we take out the 32 million of debt but add the future tax provisions we still get $1.57 per share since 156 million at a 21% corpoate tax rate is the same amount as BNK' debt. So one offsets the other.

Therefore, my sale price is the same as rajm - .75 to 1.00. This still gives the buyer an incredible deal and I have not taken into account any future reserve increases. The problem, as himmler point out is the stock is trading at .25 cents, so that is an incredible increase.  Not unheard of but difficult to achieve. So management may have no choice but to enter into a joint venture or partnership to develop the field.

I all we can hope for is they make a decision soon.