RE: Taci may be the real risk..... "Does not Bankers have to legal option in their operating agreement to export 100% of production?"
In the latest CC, in response to a question, they said they are currently exporting 100% of their production. So it appears they have that right.
The discussion related to the fact that in 2013 they will be receiving 81% of Brent, which they said equals roughly 100% of WTI. They said any sales in Albania will be at a lower price, but that the "net" is roughly the same, once you factor in transportation costs. However, it did not sound as if they expect to be selling much, if at all, in Albania. They said the 81% contracts are for one year, but that this was their choice. The contracting parties, such as Total and ENI, wanted longer term contracts.
Notwithstanding the above, they stressed that having good relations with the new owners of Alpetrol should be a win/win situation and I think they will go out of their way to be nice to Mr. Taci. Apparently some high level contact has already been made.
Don't forget BNK is not without its own influence. Its board of directors is strong and includes the following individual, with considerable influence and goodwill in the area. (Copied from the company's web site):
"General Wesley K. Clark
Position: Director
Wesley K. Clark, General, US Army (ret.) served 38-years in uniform. His last military position was NATO's Supreme Allied Commander and the Commander-in-Chief of the US European Command. Since returning to the private sector in 2004, he has resumed activities as CEO of Wesley K. Clark & Associates, a strategic advisory and consulting firm. He also serves on the boards of directors of several public and private companies. He is Chairman of Rodman and Renshaw, an investment bank based in New York and London. General Clark graduated first in his class from the United States Military Academy (B.S.) and completed degrees in Philosophy, Politics and Economics at Oxford University (B.A. and M.A.) as a Rhodes Scholar."