Big Banc Split Corp T.BNK

RE:I've bought at 1.94 & 2.02 15K thus far.

[Threemill]

Should have said I'm a believer and don't see me licking any wounds. 

As previously discussed in my Bankers Blog I purchased more shares of Bankers Petroleum (BNK) today. I bought another $5,000 dollars worth at 2.02. I had a limit purchase for the day at 2.02. The ask was 2.03 so the order wasn’t executed right away. End of days trade was 2.01. Therefore I could have made an extra $25. Could, shoulda woulda… DIDN’T. My eye is on the end goal of 2.20 per share. If approved I stand to gain $450 (9% gain) less my trading fee on today’s trade in in late June. Not too far away! and in MY OPINION very little risk. Geo-jade purchased Bankers in March. There is currently a spread of 9% because some investors are skeptical that the deal will not go through. Deals like Longrun who have had a foreign buyer similar to Bankers P have been delayed by regulations and other challenges. I don’t believe Bankers will suffer similar challenges. Firstly Bankers owns assets in Albania not Canada, therefore, Canada is not giving up assets to foreign buyers. Secondly Geo-Jade purchased Bankers when oil prices were near their lows and have since then steadily recovered with more to come from oil yet. It’s an excellent opportunity for Geo-Jade to capitalize and crystallize a deal that otherwise would have cost them more today. Thirdly, Geo-Jade has made deals of this size in the past. Lastly the assets are excellent! Why would you walk away… I’m not. On a risked basis I believe my downside is 30%, but my upside is approximately 14% since we purchased at $1.94 as well.
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