GREY:BNKPF - Post by User
Comment by
BrokerGon May 10, 2019 9:29am
57 Views
Post# 29733448
RE:News out
RE:News outThanks wittman.
An important line from the press release is the following:
" As part of this process we have now opened a corporate data room to several interested parties who have executed confidentiality agreements"
It looks like there are a few interested buyers. rajm may be correct in stating july/august for any possible takeover.
The Anderson well gives them an additional 141 boepd [ 33% of 425boepd], which probably just offsets the natural decline of their other wells. Therefore, the Brock well should have increased production. Maybe we will see this in the second quarter, unless the decline in the other wells is offsetting these increases.
They obiously need capital to develp the field, which they do not have. Hence the strategic review. The issue is the buyers know this as well and will try to squeeze them. Our only hope is if multiple buyers are present, which will help drive up the price.