Big Banc Split Corp T.BNK

Lord Skander

[braincloud]

check in box

[investor19]

Brain cloud, you controlled this board for ever, your silence is concerning to me. We all value your opinion if you're willing to share it.  

[braincloud]

I've posted my opinion. I will do it once more. First, I'm angry at myself for not selling when oil broke down. At that time BNK was undervalued relative to peers. Who knew how low oil would go right? Anyways, I know there a whole bunch of brilliant investors on this blog that made a ton of money on the stock. I'm down unfortunately. That said, this deal IMO is fair based on the

[dragon001]

Support this comments

[investor19]

Bc. In your opinion if this deal goes through, is there a chance we get less than 2.20 a share due to the audit outcome or is it factored in somewhere. I can't seem to find it. And investor relations didn't respond to me. Yet

[investor19]

In other words, is there any chance the Albanian govenrnment can stick it to us one last time. Dicks. 

[braincloud]

Think about it. Do ya think the Geo boys wouldn't have heard something about the audit during the time they worked with the BNK boys? I'm pretty sure they have their eyes wide open. They know all what's going on and there's nothing in the deal that suggests that they wud be free of the break fee either way. If they raise the money $2.20 CDN is what we get. No chance of less unless

[LucasKnight]

I have to agree with this post.  The only other suitor is Shell....but i am with you. The company will be delisted and bought over at C$2.20/share.

[braincloud]

Shell isn't a suitor. They don't have any interest in a complex heavy oil deposit.It doesn't make any sense! Dream on.

[LucasKnight]

Don't have an interest? Perhaps you know more about oil deposits than i do? A complex heavy deposit? Is that all? ================================= Let's looks at what Shell has done BEFORE making those comments;  - Shell has spent close to $200 million in Albania via investing in Petromanas initially entering into a JV [with a minor company] and then buying up the JV from 50

[braincloud]

I didn't say it was impossible. I said that there's a better possibility for a unicorn showing up. If they had an interest then why didn't they exchange research and technical prior and why did Geo-Jade? Why didn't shell enter into some JV on part of their properties in the past? I don't pretend to know exact details of the types of deposits to compare, it's just the

[LucasKnight]

First of all,                  i never said that the bid from Geo is not fair. And i have been in enough deals to know that counter bids get placed even when all else seems impossible. So i would never disregard 100% that news might come from left field. And just because Shell is a super major does not mean that they are well versed with the albanian

[braincloud]

Exactly. The Geo deal is far from transparent which is why there's such a discount. I have to believe that BNK management has done their DD to make me feel confident that the Geo folks have their ducks in a row. For now, that all I have to go on. Following Geo-Jade and its previous machinations is really tough.

[LucasKnight]

Agreed.  The discount is probably due to the lack of knowledge of the purchaser - Geo. Best to store this in the drawer and start researching other potential companies to buy and hopefully make some profit.