RE:RE:Could be short covering Vol over 10 m shares
I assume the realization of that fact was the motive
Not sure how applicable it is with oil at these levels but Mason Granger said a $10 increase in the price of oil , increases the value of BNK by 25% (statement made last year)
"Very highly levered to Brent prices. A $10 move in Brent prices would change the net asset value in the Company by 25%. Excellent balance sheet with access to the largest onshore heavy oilfield in Europe. Have done an excellent job of execution."