Big Banc Split Corp T.BNK

Share volume

[braincloud]

The volume on Friday shows 11.38 million on Bloomberg taking all exchange volume into account I'd assume. I don't think I read much into the volume number. BNK is in play and what's been said many times already on this blog is that nobody knows when SAFE will approve the deal . Both parties have said that it will close on or before September 30th, but even then I suspect if nothing material happens in the oil price , both parties will make an effort to extend the deal. That said, I also suspect that the SP will have a range of 0.10 until we get the approval. What's more this stock has limited upside from here and of course if SNAKE has some perfect knowledge he could make a trade. Does the deal fall apart? I doubt it very much. It doesn't make any sense. The weighted evidence supports a successful completion  at some point or other . 
It takes all kinds to make a market. Even idiots can play.

[casino]

All the more reason for long term holders to have no respect for French. First he sells out the company to preserve his job and secondly some of us are already in the red at $2.20. With each week that the deal does not close it just ties up our money longer. Sure we can sell but even at a deeper loss and don't think for one minute the MM don't know that the weakest will take deeper losses

[QUANTUMJUMP]

probability of deal closing has only gotten higher

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Casino I don't have any idea what you are talking about. French has done a great job running the company maybe not such a good job keeping the price of oil higher, but maybe that's beyond his pay grade . I don't know how you come to the conclusion that he sold the company to preserve his job . His job wasn't in jeopardy and what that has to do if you are up or down on your shares .

[casino]

BC like I have always said you have been the hands down leader for info when it comes to BNK. No doubt. We differ in our ideas about management and overall market direction. One thing that we are equal is the fact we have been longtime investors in BNK. French selling out has made us both losers if what you have disclosed in previous post is true it makes you a way bigger loser than me considering

[braincloud]

Well on that we differ. I sold a bunch of my shares around $2 and not CNE and GTE so far I'm a bit better off. I'm a bull on oil but who the heck knows when or if it comes back. At the time the deal was struck it was a fair deal and although I was down about a buck it wasn't the fault of French it was the fault of weak oil prices . I at least understand that and am good with it . It

[Quinto5]

Casino, there are a lot of people that are in the same predicament. Your preception of the facts are truly distorted. We find ourselves in this position because the Albanian government/tax authority has forced the company to this outcome. The ball is now in the buyer's court. If September 30th comes without SAFE approval, and the deal is extended; then I could see your viewpoint that French is

[braincloud]

I agree to a point. The Albanian tax issue nearly exacerbated the problem . Don't forget that there was a vacuum under the oil price which sucked every player into it. If you did your homework there was no way that the Albanian tax department could have successfully executed . Moreover, the new Albanian political party had constructed their budgets based on historical revenue from BNK. I guess