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.

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Big Banc Split Corp > Seeking Alpha

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Comment by LordIskanderon Feb 18, 2016 11:32am

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Post# 24570799

RE:RE:RE:Seeking Alpha

The current level of the share price is not an indication of value. The indication of value is what Shell paid for PMI's stake.

If Shell values the prospect oil field at $180M in the current market, which has only 1B barrels of OIIP. Bankers' Patos-Marinza oil field, with 5B barrels of OIIP, could fetch $900M, without accounting for the fact that the oil field is more developed than the newer prospect bought by Shell.

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Unlocking potential in TAG Oil’s Badr Oilfield Abu-Roash 'F' project