Big Banc Split Corp T.BNK

BOD JOB PRESERVATION.....BNK worth a lot more

[casino]

once oil rebounds.  This is not a sure deal, sketchy Chinese, low ball offer and BOD job preservation. Ask yourself If French and company were not keeping jobs would they have accepted $2.20. 

NO 

Hold onto your shares and send a message VOTE NO. BNK was $2.23 just before bank account freeze back in November and it was worth a lot more then. Why accept less now?

OIl will rebound some calling for $60 plus this year.

[ChupacabraBueno]

The way oil has been trading you should be happy to get $2.20. Vote yes if you don't want your shares to tank. If oil spikes and BNK turns out to be worth more there is nothing preventing a higher bid. -GLTA!

[braincloud]

Exactly! Tender your shares and IF you think oil trades higher find another stock and ride it out. There's little doubt in my mind that the deal will get a "no" vote. The institutional holdings will certainly tender.

[braincloud]

Casino, your reasoning defies logic. Your whole thesis relies on oil price moving higher. Nobody knows if and when oil prices move higher or lower, not even you! The valuations speak for themselves and reinforced by some educated analysis. What's your analysis of the valuation versus comps? Walk us through your numbers!! What's more, some of your comments about the Geo versus BNK share

[casino]

Then you think oil stays where it is. If that was the case then why would anyone want BNK? Think about that.  The offer is low simply because we are in a low price per enviroment. BC you have been preaching for months that once supply and demand balances out which we all know it will then oil will rebound. When? Who knows for sure but it will happen. These cycles are historically the same

[dubsbs]

I think your way off-side casino. you just don't want the sale ..plain and simple... this sale is resonable and will go through. We are not on fantacy island we are in a bad oil enviroment. take the proceeds and invest in another undervalued oil stock.. there is lots to be had.... cheers

[balanda]

is deal or bankruptcy. This is the true nothing else ... the company is loosing money and banks are closing the flow..but you are right the deal is for 45-48$/bbl assumption .we are around 37$ so I belive is a fair deal for the moment.

[braincloud]

I didn't say that I think that oil stays down. I said that nobody knows when and if! The price offered is fair NOW!! NOT IF OIL IS HIGHER!! Your whole argument is based on WHEN OIL MOVES HIGHER. The fact remains that in this environment BNK can't afford to drill and they won't drill until oil moves sustainably above $45. Even then, they will only engage drills in stages. So until then

[casino]

Well I hope it all goes well for you guys who are so sure the deal will pass and you can get your lousy $2.20 and move on.  

[ChupacabraBueno]

casino, thanks... we couldn't agree more. It may be a lousy $2.20, but what happens to the SP if the deal falls through. Around $1 is likely. We could revisit the 60 cent low. Or lower.... it all depends on the price of oil. And if oil, contrary to expectations, has a huge spike up, higher bids will materialize. I'm praying for that scenario - I just don't expect it. - GLTA!