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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.


TSX:BNK - Post by User

Big Banc Split Corp
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Post by pix4dddon Nov 06, 2015 12:34pm
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Post# 24267043

Quaterly results

Quaterly resultsOverall not bad.
The negative is the production decline

  • Average oil production for the three months ended September 30, 2015 was 19,600 barrels of oil per day (bopd) compared to 20,050 bopd in the previous quarter and 21,865 bopd in the third quarter of 2014.  For the nine months ended September 30, 2015, average oil production was 19,805 bopd compared to 20,809 bopd for the same period in 2014.
  • Bankers anticipates exiting the year with an 18,500 to 19,000 bopd production rate.
So
Q3 2014 we were producing 21'865bpd
Q4 2014 .......
Q1 2015.........
Q2 2015 20'050bpd
Q3 2015 19'600bpd
Q4 2015 18'500bpd to 19'000bpd

So we are losing an average of 500bpd per quarter since 18 months. At this pace we will produce 16'500bpd at the end of next year.

This is a big problem as we will not attract investors with such a decline in production.

 


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