Kolibri Global Energy Inc BNKPF

Updated Presentation

[BrokerG]

BNK updated their Presentation- August 2019

Here is the bottom line: Slide 20

- BKX - Year End Reserve Report - C$1.96/share 1P NPV 10%** - C$2.78/share 2P NPV 10%** - Aug 2019 share price C$0.21 (~US$0.16)

IN other words, they feel with a 1P NPV 10%, the share price should be C$1.96. Not sure if they noticed but we are hitting multi year lows. This is probably why they have not accepted any offers, if there even has been any offers. MGT feels they are extremely undervalued and as interest picks up there share price will follow. BUT, that is the problem. They are betting or more like hoping the market recovers. The last time the market slumped in 2015, it took 2 years to recover somewhat. 

I think waiting 2 to 3 years would be acceptable if they had MONEY. The issue is their bank line is maxed out. They cannot issue shares when the price is .17 cents[ hopefully not] and their well production is naturally declining, therefore less revenue coming in.

There is no way XTO Energy[ Exxon] would not buy this for .50 cents, unless Exxon feels they will wait them out and pick up the land leases once they go bankrupt. Not a bad strategy, but there may be other suitors, so that may not work. Exxon is obviously in the driver seat. It is BNK that has to go begging. TAKE the .50 cents and count yourself lucky.