Kolibri Global Energy Inc BNKPF

RE:RE:RE:Institutions

[rajm]

Well we at the very leaf we heard something today:

BNK PETROLEUM INC PROVIDES DRILLING AND COMPLETION UPDATE

 

CAMARILLO, CALIFORNIA, October 30, 2018 – BNK Petroleum Inc. (the “Company”) (TSX: BKX) is pleased pleased to announce that the Anderson 1-15H10X3 (BNK 33% working interest) has been successfully drilled and cased with a 2 mile lateral.  This well is located in the Tishomingo field, in the SCOOP region of Oklahoma.  The fracture stimulation of the well is planned to begin in mid November.

 

In addition, the fracture stimulation of the Brock 4-2H well (BNK 77% working interest), which is operated by BNK, is planned to begin in about 10 days, with flowback expected after the fracture stimulation of the offsetting Anderson 1-15H10X3 well (BNK 33% working interest) is completed.  

 

Wolf Regener, President and CEO commented “We are very pleased that the Anderson well was successfully drilled under budget.  This is the first 2 mile Caney lateral in the area and we are excited about the production potential of the Anderson well.”

I agree, it is strange times. I was talking to a former Wall Street guy wh has spent his life doing deals in oil/gas and mining. He said that all the oils stocks and oil service companies stocks are way down relative to the price of oil - effectively out of synch with the historical oil price/stock relationship. He also mentioned that large investment groups like Fidelity etc don't even want to have a meeting (in general) on ew funding and have reduced their %'s in oil down to 5% from 15-20% and greater in some cases. BUT as long as Bnk stays liquid and matches their spend with cash flow in they will continue to build value and have a natural buyer surrounding them in the field in the name of Exxon. Don't sell your shares at this level. rajm