Pure Speculation......I'm guessing the next big news could be revised Reserve reports which of course O&G companies are valued on (in conjunction with cash flow multiples).
Whether we go down to $2.40 or not, the long term prospects here when you consider Management and the price of oil, are unmatched IMHO.
Even in the short term, the Nov 09 warrants are well in the money now and (approx. $0.33) and aside from being a little illiquid provide some fun short term trading plays if you want to be a little riskier with BNK.
Either way, I view this as having the upside of a young biotech with a much lower downside risk.
Six to nine months ago, some analysts were recommending replacing PetroCan stock with Bankers...pretty good advice.
I think we will be in the low $3.00s sooner before we are below $2.40...JMHO of course.
CHeers and GL to all longs,
DLS