Kolibri Global Energy Inc BNKPF

BNK is removed from his latest project in Spain

[gasaran]

https://translate.google.es/translate?hl=en&sl=es&u=https://www.efeverde.com/noticias/fracking-investigacion-burgos-gobierno/&prev=search

BNK Spain company withdraws from the last research project of hydrocarbons which was still underway in Spain, the so-called 'Urraca' in the province of Burgos, once the permission granted by the Government may have expired while the favorable environmental impact statement has been achieved..[...]
The Canadian company does not intend to claim or ask the central Government for a delay that ended with the expiration of the project responsibilities.[...]
The situation has now changed and BNK Spain stays "without any plan for the future", so they will leave the country, have been recognized.
(In Spain is automatically granted the extension of research permits if the delay in the work is not for reasons attributable to the company, the company only has to request it.)

[BrokerG]

The writing was on the wall with Spain, when they let go their European Manager last January. We are now a 100% Oklahoma company.

[wittmann]

With managements latest news I must state that my trust in them has been eroded.I never put much into their European venture after Poland ,and strictly gambled on their US assets.But with their latest dilution trick and omitting common  shareholders,I must say its time for them to step up.This is otherwise nothing more than a scam.Insiders buy shares at 20 cents...inflate the price with

[xmaster]

this doesn't happen only in oil industry.....i know such tricks happen in others too.  look at nus.to in about 2013....that stock was selling at 35 cents and management raised rights at 20 cents....i guess it was still better then this as they gave first option to buy to current holders. another trick by management happened with mart oil....that company no longer exists but had oil

[BrokerG]

Wittman is correct, as usual. It is time management steps up. Their head in the sand strategy was fine when oil is at $30, but when you dilute your sharebase, it is time to prove your worth. I would hope and expect to see a drilling program announced over the next month. Also, we need to find out, at what oil price, would this company breakeven, from an operational and capital expenditure

[wittmann]

Hi Broker.Since it appears as though we may be 2 out of the 3 posters here that actually own shares of this company :) ...I wonder if its worth the gamble to buy more shares. My thoughts are this: since they increased the dilution ..there obviously is demand.(from insiders) The share price (in theory) should stay at 20 cent range until they do something.... That obviously is why they are doing the

[BrokerG]

I came to the same conclusion, but unfortunetaly, I am way too deep in this company to add to my position. If you have the cash in hand then yes it does make sense to average down to some degree. You may also want to wait until a drilling announcement is made.Of course, the price may be a little higher by then, but it will lower your risk. Have you ever called the company or spoke to IR?. Do they

[xmaster]

wittman....I increased my position by 42% to catch up with dilution.  In line with your assumption about demand and also the fact that this stock has not participated in recent run up in oil. Now price target calculation: if you go to stockcharts.com and create relative price graph of bkx to iae then you will see that bkx had been trading at about 50% of IAE value.  and IAE is right

[wittmann]

You're correct with no recognition for its survival.But theres a reason for it as well...the european failure.Without success there ,its just another shale play in the US....a surviver..but a shale play nevertherless. As for their IR..they were active a few years ago...but I get no responses anymore.Mind you..I only tried once.Thats one problem that many had with this company. Its always been

[BrokerG]

Closing of secondary offering tomorrow. With Oil prices stablizing and this secondary offering off the table, does anyone feel we may get a bump in share price? Or do we wait in purgatory for any tidbit of news management feels obliged to share. Opinions?

[xmaster]

since insiders did not let us in on this new secondary....now they are probably more vested then before and hence we can expect to see some news.

[BrokerG]

According to the news release this morning: "Directors and senior officers of the Company purchased a total of 4,680,000 Shares in the Offering." At least they have announced the start of a drilling program once they bid on a rig. More information to come in early November, as per news release. I can't believe I am thinking of buying a few more shares.   What does everyone

[upupandaway7]

My average cost is $0.54 that is even after adding today to my position. I picked up some more shares at $0.195 because of the same thoughts you had. I am confident that management won't piss thsee dollars away knowing they have their own dollars invested as well as it is comforting to know that through this hostile environment BKX has survived with reasonable quarterly reports. Good luck to

[BrokerG]

Picked up another 100,000 shares. I must be insane. Well let's hope that drilling program is successful. If OPEC can get Russia to go along with a production cut that would help as well.