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Bengal Energy Ltd T.BNG

Alternate Symbol(s):  BNGLF

Bengal Energy Ltd. an international oil and gas exploration and production company with producing and prospective light oil-weighted onshore assets in Australia’s Cooper Basin. The Company is involved in the exploration, development and production of oil and gas reserves in Australia. Its core Australian assets, Petroleum Lease (PL) 303 Cuisinier, ATP 934 Barrolka, ATP 732 Tookoonooka, and four petroleum licenses are situated within an area of the Cooper Basin that is served with production infrastructure and take-away capacity for produced crude oil and natural gas. It has two PLs on the former ATP 752 Barta block, PL 303, and PL 1028, in addition to three PCAs, PCA 206, PCA 207 Barta West and PCA 155 Wompi block-Nubba/Yilgarn. The Company also holds four PLs including a pipeline license PPL 138 adjacent to the 100% owned ATP 934. Its wholly owned subsidiaries include Bengal Energy Australia (Pty) Ltd. and Bengal Energy International Inc.


TSX:BNG - Post by User

Bullboard Posts
Post by Ricky_Con Mar 16, 2017 9:14pm
188 Views
Post# 25991397

Bengal energy

Bengal energyCuisinier asset is very impressive over $ 100 million in reserves.  Extremely high ownership by insiders (over 25%).  So very few shares move the share price.  Have ventured into India (failure), offshore (discovery at the end not viable).  Have refocused all energy in Australia with success.  Recently did a rights offering (end 2016) which was successful with existing shareholders.  It took a little time to recover from the 2014 crude oil plunge but it has survived with a strong balance sheet and help from solid long term minded shareholders.  I've been in this one for quite sometime and naturally believe it's true value will eventually be reflected in its share price.  As Brent pricing drifts upwards this solid little gem will eventual shine.  Need I add that it produces +/- 400-500 Boe a day and is tying in wells as we speak from its successful drilling program conducted fall/winter 2016 to increase its daily crude output.  For more info check presentation on there website.  No i'm not an insider, paid pumper........just a retail shareholder...
Bullboard Posts