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 bulliongogoon Mar 02, 2005 12:40pm

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Post# 8681937

Interesting Conference Call

On vintage petroleum (VPI NYSE) - they are the other major lease holders in the area. The have drilled two wells and are analyzing the core data on one for completion and another is 4,000 ft deep. Also talk about the Palo Duro Basin Shales to have a pay zone between 500 and 1000 ft. That is double of what the Barnett Shales has. Going to spend $26M bucks this year on the play. They said that unconventional plays (such as the Palo Duro play) meant the drilling risk was negligible (Barnett Shales has a near 100% drilling success rate) but the risk lies on whether technologies will allow economical extraction. HMMMMMMM - this sounds like an interesting play - Technologies in the Barnett Shales have proven that to be the most exciting Economic Natural Gas Discovery in NA in years. This was all said in the conference call - go see for yourself and hear how excited they were to talk about it.

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