Big Banc Split Corp T.BNK

Crazy Value Here Now

[wallop13]

The value here now is crazy. I'm looking forward to Q4 financials.

[corvette67]

Before you back up the truck, wait until the $56mil elephant is put to rest. I believe Brent is still up today. JMHO

[Frostyfresh]

The 56mil elephant has been priced in, and huge short positions need to be filled at some point. Other companies will be slaughtered before bnk is in any serious trouble with oil at this, and possibly lower prices. The elephant is still an issue, but could be an opportunity more than anything. Do people really think BNK cheated Albania (who were looking for money) out of taxes?

[ImFineThanks]

Probably not but it's the government's lack of respect for ICC rulings that causes concerns.

[good40]

Could be mistaken here, but I think the full $57 million will be paid during this fiscal year, regardless to the outcome of arbitration. Any over payment would be applied to future fiscal year liabilities. All in all, this puts tremendous pressure on 2016 numbers. Their guidance for 2016 suggests a 15% reduction to production volume, coupled with what appears to be reasonable estimates that oil

[braincloud]

At this point this whole discussion is moot. The stock isn't going to drop $4 from here so who the eff cares if it drops by 0.10-0.30!!! It's like shutting the barn doors after the horses have bolted. IMO, this whole oil market is like a powder keg. Any number of things can make it go much higher. It ain't gonna drop by $70 from here, that's for sure.

[Allisonbike]

I do not think anyone believes Bankers cheating the government. The question is what do they have to give up to settle. When dealing with a government who is broke and holds most of the cards, they have to give something. The best friend I believe Bankers could have is the IMF who is giving the government funds. The real concern about Bankers is their cash position. How much of the VAT are they

[braincloud]

I don't know how many times I have to say this. There's no settlement with the Albanian government. At the very best there will be a minor re-adjustment to the cost recovery pool. That's it. There might be ( and that's a big if) a cash crunch. They don't run out of funds even at $30 brent. They still make some money at these levels with or without hedge. The cow is done being

[braincloud]

To be clear, BNK came to a compromise with the ALB tax department and came to an arrangement as was discussed, so that they would free up access to their banks accounts. The cost recovery pool will most likely be impacted by some minor amount, but nothing to the extent that would trigger ANY TAX BEING PAID in the context of the Albanian claim. That would be almost impossible. The Albanian

[good40]

We know that the full $57 million won't be awarded to the government for 2011. The frightening realization that BNK might continue to pay it and allocate towards future liability, is what scares people away for 2016.  There is always a possibility that the years following 2011 will also be audited... maybe a reason why they settled on the $57 million number.

[grantoue]

The books are being audited and the results will be accepted by both parties. we just have too wait for the results and oil too move up to $42  to get back too where we were. the company makes money even at this low oil price. It will make tons when oil rebounds and it will happen, if your scared sell . that is my best advice.

[braincloud]

You believe what you want. You obviously can't read, don't want to go to the trouble, or just don't give a sheit to post anything that makes sense.  Do some effing reading will you please and stop spreading your bull sheit responses! If you can't be bothered then off to the sheit pile with the rest of the idiots!

[braincloud]

Allison Bilk, what evidence do you have that would support your contention that they have to give up something to settle? This is a reference you've made a few times already. Give us some information to support what you say. I say they have already compromised by giving an "advance" .

[Allisonbike]

It happens all the time, Niko in India, Brazil changed the rules, Russia, Chile, Argentina, Indonesia, the list goes on and on. When you get into a dispute with a sovereign nation who is desperate for money, they find a way to extract funds. I know Bankers has a stabilization clause that protects them, but fighting with a government almost always ends badly. And you end up giving them something. I

[braincloud]

Allison bilk, I'd suggest that you do some more research on the IMF web site and also review the recent bond raise they did. I would ask you to please stop speculating. The IMF review took place just about the same time they blocked BNK assets. The IMF agent had her speech transcribed and the Albanians were put on point.  You ARE absolutely incorrect in your assertions.