GREY:BNKPF - Post by User
Comment by
Carbonbullon Nov 25, 2019 11:53am
60 Views
Post# 30389601
RE:RE:RE:RE:RE:RE:RE:RE:OTC Spread on BNKPF
RE:RE:RE:RE:RE:RE:RE:RE:OTC Spread on BNKPFBroker G
The tide is out, I see private companies every day with banks calling ,even though they have plenty of coverage on PDP , like it or not the market has shifted (hopefully just temporary) to no reasonable bids for junior/micro assets.
This will change when supply fromt the big three frac basins slow or there is unrest in opec supply reflected with oil above $65. Until then i am thankful for the free cash generation and the ability to service debt along with reducing it. So much better then 90 percent of the junior/micro US market.
Like you, I would be delighted if XTO suddenly decided to bid 40 cents , I just dont think in this market it is likely anymore, although the gentleman who introduced me to this play insists that is the case.
The next big piece of information will be the year end updated reserve report which i suspect will show a modest decline in PDP and 1 P . Still plenty of value though.