Big Banc Split Corp T.BNK

Albania

[wittmann]

Some negative? news from Albania and Bankers.Cant post but it must be on Stockhouses news as well.Was out a few minutes ago.

[wittmann]

Heres some of it LGARY, Nov. 20, 2015 CALGARY, Nov. 20, 2015 /CNW/ - Bankers Petroleum Ltd. ("Bankers" or the "Company") (TSX: BNK, AIM: BNK) has applied for an injunction through the International Chamber of Commerce (the "ICC") to provide protection against enforcement of the previously announced Albanian tax assessment until the conclusion of

[LordIskander]

time to activate the general

[lefmike]

now this is quite the knee jerk reaction...... down to 1.85   or close to 20%  based on what?  a 56 million POSSIBLE libility?

[wittmann]

Well I think we know that BNK was always a daytraders dream.Highly liquid,and if you'recaught..so what.You hold a stellar company.Now the shorts have a field day based on what exactly? The fact is the outcome of the spat is going to 3rd party,and untill then its nothing.Even a bad outcome means not that much to BNK finances. But thats what the shorts will feed off for a while.We could be in

[BrokerG]

As a long time shareholder of Bankers, I always questioned why we would trade at such a discount to our peers. Today we just found out why.  Political risk in a quasi third world country is too high. Not much shareholders can do but wait and hope this settles.

[wittmann]

Thats partly true.As a long term holder though you should know this sort of thing has happened to us before...a few times,and you should also know that Albania wants EU membership which means some of this BS will be noticed so things cannot wind up very serious ..especially without merit. Another poster mentioned a ripe takeover time now...sorry but thats nonsense.In one breath people say its a

[braincloud]

For the Albanian tax department to seize bank accounts, no matter how small, does come as a surprise. Yes, it suggests that $56 mill is at stake , but their assertion with penalties is $72 million. Both parties agreed to the audit so why do this now? Why not wait to hear what the ruling is? Maybe this could be a last ditch effort by their tax department to put this to bed. BNK maintains that their

[dubsbs]

Can anyone post level 2 bids/asks

[BrokerG]

My question is why would Bankers let it come to this. Surely they are in communication with the Albanian gov't., as one of their largest tax providers. Bankers surely realizes they are not dealing with a Canadian or US tax system or rule of law. The market will sell first and ask questions later. The problem is lack of confidence in our stock for the long term.

[LordIskander]

It's about that r-factor thingie in the contract. Capital pool is always full for Bankers and the Albanian gov. is saying they are padding their expenses.

[LordIskander]

Sorry I meant cost pool

[braincloud]

I don't think they "let it come to this". BNK has an explicit contract with the Albs . They get their royalty after expenses. The fact that BNK agreed to an ICC audit suggests that they have nothing to hide. It's like the minister is grasping at straws by freezing the cash. It doesn't make any sense given Albania's desire to enter into the union. This would certainly put

[nexthink]

except the albs will never enter into the union. And they know it. Its like turkey they dream to enter but its just a dream. Albania is really far from entering into EU. I don't trust this gov.

[showtime5]

chances Albania will take over BNK's production, always been the risk of operating in a communist state not good...sub $1.00 soon

[nexthink]

I know showtime that albania is very risky to be investing in. It's a bit like venezuela I guess. That's bankers was priced at discount compare to its peers in other countries. We call it country risk. So you believe BNK can go as low as $1. Really ?

[wittmann]

Albania is a socialist state..but it is  a democracy..NOT A COMMUNIST STATE.. If you cant even get that straight,how do you think your opinion will matter showboat? On ignore you go lol.

[LordIskander]

Albania is a neo-liberal state. The Socialist Party is so only in name. They have a huge budget hole to fill.

[wittmann]

Having a huge budget hole to fill only puts them in the same company as most of Europe.As for being socialist what you say is true,however some always argued that the USSR was a socialist state as well...and others said in name only.Never true socialism. It makes one wonder  Albania's  motives.I believe bankers has nothing to hide,and therefore nothing to fear.No trade halt..but only

[dubsbs]

Your right    braicloud and i bought in at 1.65.. to me lts a steel. I hope lefmike finds the wareworthall to do the same .... money to be made....

[Trader124]

turkey no longer want to join the EU. Economically they are doing better than the EU except for germany