Kolibri Global Energy Inc BNKPF

Q2 Earnings and Update on Strategic Options

[Cougar3]

https://finance.yahoo.com/news/bnk-petroleum-inc-announces-second-024000884.html

[BrokerG]

Well were do I start. 1] Positive net income of $1.5 million. Primarily do to hedging contracts.  2] Most important line in financials: "At June 30, 2019 , the Company's US subsidiary had borrowed all of the committed amount of $30.0 million on the credit facility with BOK Financial.  The Company paid down $0.5 million of the commitment amount in

[rajm]

Timing is everything ........... and timing is not good, unfortunately. Market is up and dow, fears of a large pullback. Trump gov't and strategy in a shambles, uncoordinated strategy. XTO has the commanding position and other options are likely limited. if they can't find a partner to fund the field development XTO it is - likely $.50 (if we are lucky) or heads down, keep drilling one at

[himmler]

Good points Broker.Their hedging saved their necks.You're right also that no new money from existing lending facility.I just wonder if another will step in. I also wonder what the $ numbers would be net if they didn't lose all that time screwing around with those latest wells.Big stumbling blocks for sure.Hate to say it but it may very well take much time to get back on track.Oil is not an

[BrokerG]

Thanks Himmler. I guess you are right they can go into survival mode and lay dormant until the market recovers. The last time they did that was 2015 when oil dropped to $29 barrels. Our stock price at that time was .15 to .17 cents. We are only a few pennies from that yet oil is at $55. Surely we are in a better situation than in 2015. I really don’t see the problem.  Take the best offer and

[Intransigent]

I definitely do not get the sense that management is preventing a take-over. If i were in their shoes I'd be pretty happy to take my severance ($850k for CEO, $240k for CFO) and get on with something less risky or retire.