Big Banc Split Corp T.BNK

Financial Results Drama

[UofTrader]

Many oil companies are reporting losses equal to a third or half of their current share price, BNK reported an annual loss of 0.014 I don't understand how this is HORRIBLE. Bankers was smart enough to allow their production to decline to keep a strong balance sheet unlike many other oil companies that tried to keep up production and deal with insane cash burn, other companies are issuing shares like no tomorrow while Bankers is trying to self fund and not go back to the market in any big way so far. This stock is more correlated to the price of oil rather than the Financial results. The thing I think stopping this company sp from going much higher is the tax dispute, at this point all that matters is that it's resolved regardless of how much we pay. I'm staying long with this company because of their EOR program and how quickly they can get rigs back online. If the dispute is resolved and the recent rig count declines translate into declines in inventory we'll be in a good place.

[LordIskander]

BNK reported an annual loss of 0.014 I don't understand how this is HORRIBLE.   Expectations were 0.03 EPS. Made all the analysts look bad.

[Coop007]

Added another 10k shares today to my sit, hold, smile account :-) GLTA

[Coop007]

Sorry 2X post, Got to love this web site, If ANY one is paying to use this P.O.S. site, I have a bridge that you may be interested in

[Coop007]

Added another 10k shares today to my sit, hold, smile account :-) GLTA

[himmler]

 I would like to know of ONE oilco thats in the green ..just One. As for oil analysts..well most look bad.Thats because they are stupid enough to try to be exact with their estimates in an oil world that has fluctuations unlike whats happened in their 1-3 yrs of  intense experience lol.Many of these worthless yokels look over their shoulder to see what the next dolt writes,and then

[good40]

The loss per share decreases with increases to outstanding shares. What are you comparing ? Year over year, net income reduced by $132 million. That's a 103% reduction. Brent is currently 25% lower than the 2015 average... plus they intend to reduce production by another 15% compared to 2015. I don't see 2016 as being better, even without considering the $57 million tax dispute.

[braincloud]

That could very well be the case. The 57 mill tax dispute out of the way with little or no impact will likely have a positive impact all things held equal. That's what makes a market. They don't choose to produce 15% lower. That's what it is after the new, current and EOR. IMO that's a great number compared to the average. If you believe in your call then you should be out or short