Bankers is highly correlated to crude movementwhich is alot of the reason it is holding up. Crude was up considerably but the share price got sold off once it hit up near $3.20. Appears that their is a ton of willing sellers at this level. I would go on record to say that if Bankers announced a strategic farmout of a portion of the patos marinza field to an international major independent E&P (at clearly articulated valued added terms) the share price would rise by at least $1.50 as the 1P NAV would nearly double. They have way too big a resource and reserves to not bring in a major partner to more rapidly exploit this resource. That is the super calalyst (other than a sale of the company itself) that would blow the share price by resistance all the way up to the $4.50 to $5.00 range just on news and keep it there.
Q2 earnings and cash flow should already be pretty much known by the market, but at $108 Brent and some reduced opex and the market would react favourably. Also if they managed to collect their outstanding receivable from Taci this would also be a pleasent surprise.
I believe that French is going to want to make his mark with Bankers and his business development and M&A competencies are going to aid him in constructing a JV deal to make him a real hit with the market and his future employers. IF they made this deal, they would likely get cash up front to accelerate the construction of the 70 MBBL pipeline to the Coast and double the CAGR to get nearer to this capacity for production much quicker. All we need is for Crude to not sabotage us and them