GREY:BNKPF - Post by User
Comment by
9th0on Aug 12, 2013 4:44pm
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Post# 21664716
RE:RE:RE:BNK starting to get noticed
RE:RE:RE:BNK starting to get noticedThe goal of the BNK Petroleum at some point in time is to actually partner-up with a much bigger company that would be willing to take the potential wells to production.
A number of months ago (I believe I have posted this information on this board as well), BNK Petroleum was actually shortlisted as one of the potential companies with which PKN Orlen would like to partner up.
As an FYI, PKN Orlen is a Polish behemoth in the oil, gas and fuel industries. They own everything from exploration to actual gas stations in Poland. Size-wise it is a company with revenues exceeding 26 billion euros a year and some time ago, in the Fortune Global 500 was ranked as the 31st largest oil company in the world.
With BNK Petroleum having only $100,000USD in debt and about $90,000,000USD in cash plus potential additional income in the US from the wells they are currently exploring, they are put in a much better leveraging position were they to partner up with an existing company in the shale gas play in Europe.
You don't have very many junior oil / gas producers which are also junior oil / gas explorers with no debt and coffers full of $ to be able to carry them through their exploration initiatives.
Good things will happen over the next 8 - 16 months and the market will recognize that.
Cheers,
9th0