Kolibri Global Energy Inc BNKPF

RE:RE:RE:RE:BNK Petroleum Inc. Announces 2nd Quarter 2013 results

[9th0]

Hi Rajm,

I think you make a very good point.  According to what they just released, they have paid down their debt from around $40M down to $100k and they have still about $90M in cash.

On top of that, the encouraging results in their Caney drills:

- Barnes 6-3H:  250-350 barrels of water and oil per day at app. 40-50% oil = 125 - 175 barrels of oil per day

- Dunn 2-2H:  300 barrels of oil per day

Between these 2, they produce (still initial stages, but encouraging none-the-less) between 425 and 475 BOPD.

Assuming the low-end and only these 2 wells, you have 425x $100USD = $42,500 / day x 365 days = $15,512,500 / year.

Once again - that is only from those 2 locations.

Of course, the above are very simplified calculations but I think they are enough to show a decent outlook for the company itself and what it should trade at - which is at least it's book value of $1.23 / share.

Now it's just a case of waiting until the market recognizes it.  The price of oil is hovering high up there therefore I think BKX will catch up.

Cheers,

9th0
ps.  If you think I have done some mis-judgements in my simplistic calculations above than please do let me know - I am no expert at this .... yet :)