Kolibri Global Energy Inc BNKPF

Take over price

[BrokerG]

Six months ago after the strategic review was announced, we had a lengthy discussion on BNK's buyout price.

BNK Debt = 30 million . However any buyer would be able to offset that debt with BNk's 150million tax loss provisions. Therefore, tax loss provisions and debt eliminate each other.

That leaves us with reserves, current cash flow, and land, as the positives and the 240 million shares as a negative. An independent auditor has estimated NPV at 10% of $356million.
This would equate to a share price of over $1.00 easily. The problem is the oil environment. It is a buyers market. In a buyers market you do not get what your house or in this case company is worth. Therefore, our old friend Woolco was probably right, when he said we should get between .40-.60 cents in 6 months [ October 2019].

Or we wait years hoping to get an oil recovery. 

I guess it all depends on if Harrington, Livermore,and the Board want to wait until that time. 
In the last few press releases BNk mentions that it is reviewing options, I would hope that means they have been negotiating with suitors.