Bankers Petroleum (BNK.TO) Buy, Sell or Hold

Bankers Petroleum (BNK.TO)

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COMMENT

Shell play could be worth $1.50 a share. Own heavier oil project in Europe with recovery rate going from 6% to 30% recovery rate from oil in the ground. Could be worth 4$-6 in 4 years.

WAIT

Wait until after the share consolidation.

BUY

Likes the story. Spinning off their US assets. A lot of upside.

HOLD

Albania. Producing about 5400 BOE's a day in Q1. Expecting them to exit the year at about 7000. At the end of June, they are going to spin off the US shale gas play into a separate company. Expecting a 3 for 1 reverse split.

BUY

Have had new management for about 9 months. They think they can get recovery as high as 30% where it was formerly 6%. Stock will be substantially higher in 2 years.

BUY ON WEAKNESS

Looking at developing some Eastern European plays. Management team is proven. A little over extended in the short run, but he is watching. Look for entry points in the $1.25/$1.35 range.

DON'T BUY

(Market Call Minute.) Excellent new management team. Great long-term prospects. Over owned and overbought right now, so wait for a better entry point.

COMMENT

Management has a very successful track record. Should do well with their assets.

WAIT

Has already gone through his target so it is still under review. Going after other fields in Albania. High recovery potential. Any time a stock doubles in 3 months, there's going to be backing and filling so you might want to wait before buying.

COMMENT

This has become one of the front line, appealing stocks to Bay Street. Located in Albania and apparently has a very, very large assets. Very large reserves with expectation of very large production.

TOP PICK

Betting on the management team. They’ve added assets, increased production and cash flow. Have absolute confidence. The stock will work its way to $3-4.

TOP PICK

Betting on the management team. They’ve added assets, increased production and cash flow. Have absolute confidence. The stock will work its way to $3-4.

HOLD

Gone through his target in the last couple of weeks, so he now has it under review and is waiting for the year-end data. Management has a fabulous track record. Taking a heavy oil with very low recovery rate and are putting in steam injection that could increase materially the production.

BUY ON WEAKNESS

Currently at about 5000 barrels a day and company thinks it can double that by 2009. Using 10,000 barrels, she can see about $.25 a share giving it a cash flow multiple of 5X. Not bad, but that is already forecasting next year's cash flow so consider it a neutral valuation. Probably will be able to double reserves in the next 1 to 2 years, which would calculate out to a $2 or $3 on a reserve valuation. Would like to buy at about $1.

TOP PICK

A very special situation. New management came from the very successful Rally Energy. Have an auto play where the recovery is 6% and thinks it can potentially go as high as 30%.

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Bankers Petroleum (BNK.TO)