Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

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Big Banc Split Corp

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Post by rehsifylfon Jun 20, 2011 1:52pm

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Post# 18739107

Q2 Revenue

In the July update, we should get the production numbers for Q2 and the average price realized. I ran some numbers based on the avg price of Brent in Apr, May, and (what I think will be June) as well as taking at stab at production increases that should have occurred over the quarter.

Low side estaimte of production ending the quarter is 14500 bpd. That would only be an add of 1000 bpd during the quarter, which would make it tough for them to hit the 20K per day by YE. If they are on track to meet 20k bpd by YE - they should exit at 15500. The range of revenue for those numbers is between $97 M and $101 M. Compare that to the $72 M for Q1 and thats a hefty increase. That would equate to a Netback of >$50M in the quarter.

So its easy to see why this is tanking.

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