Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

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Big Banc Split Corp

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Post by i8emailon Apr 01, 2013 8:06am

314 Views

Post# 21190750

Questions on news?

When reported numbers of mmbbl contingent
Can someone explain if higher or lower numbers are better and what is the rational behind it?

Many thanks

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Bankers Petroleum ends 2012 with 534 mmbbl contingent
Ticker Symbol: C:BNK

Bankers Petroleum ends 2012 with 534 mmbbl contingent

Bankers Petroleum Ltd (2) (C:BNK)
Shares Issued 253,871,984
Last Close 3/28/2013 $2.67
Monday April 01 2013 - News Release

Mr. Abby Badwi reports

BANKERS PETROLEUM ANNOUNCES FILING OF 2012 STATUTORY FILINGS INCLUDING AIF AND STATEMENT OF RESERVES DATA

Bankers Petroleum Ltd. has completed its 2012 statutory filings, including the annual information form and the statement of reserves data (51-101), for the year ended Dec. 31, 2012. The filings can be accessed on SEDAR and the Bankers website.

Contingent and prospective resources

Bankers Petroleum announces its 2012 contingent and prospective resources attributed to the periphery extensions and increased development of the Patos-Marinza oil field as provided by its reserves evaluator, RPS Energy Canada Ltd. Contingent resources for 2012 are 534 million barrels, compared with 994 million barrels in 2011. Prospective resources are 254 million barrels, compared with 616 million barrels in 2011. The resource estimates include expansion of primary recovery development as well as recognition for secondary and tertiary recovery methods.

The contingent and prospective resource adjustments reflect the reduction in the oil in place volumes in the field disclosed on Feb. 25, 2013, from updated geologic mapping of the individual reservoir sands. The reduced resource volumes are aligned with the company's deferred development plans in the area and allow for further evaluation through delineation drilling and data collection.

Operational update

The company intends to issue the first-quarter 2013 operational update and host a conference call on Friday, April 5, 2013. David French, the newly appointed president and chief executive officer, will also be participating on the call.

We seek Safe Harbor.

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