RE: RE: ???With all due respect your comment gives a misleading and distorted picture of BNK's production.
We can agree the last figures were disappointing - but lets examine them in a little more depth to get a balanced view.
Point number one is - exit figures (the ones you quote) are no where near as important as AVERAGE figures for each quarter.
Exit figures are a snap shot for one day - whereas average production figures give the true volume of production over a whole 3 months.
So in this case while it is true the exit figure was down between March 31 and June 30 the average productIion figures were UP !
Average production for Q1 was 12147 bopd
Q2 was 12937 bopd - almost a 7% increase.
Ergo your statement that BNK is not increasing production is factually INCORRECT.
Bankersalso explained the less than exciting figures - although disappointing - were due to shut ins work overs etc - and will soon be back on stream.
Also worth noting is that inventory increased significantly in Q2 from Q1
IE - Q1 approx 168,00 barrels
- Q2 approx. 239,000 barrels
Putting things into perspective Q2 was disappointing but very likely a temporary setback - with better news for Q3 almost certainly on the way.
Small retail investors have 'bought in ' to the negative comments - such as yours - that do not explain the broader picture and have resulted in an overly depressed SP.