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

Bankers Petroleum (BNK.TO)

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55 watching

HOLD

Doing about 5000 BOE’s a day and will be growing to 10,000. Have been adding to their production in Albania. CEO of Rally Energy (RAL-T) will be coming on and this move the stock a lot higher. Also doing steam flood to get higher recovery. Will probably spin off US tight gas assets into a separate company.

COMMENT

Heavy oil asset in Albania was a little hairy. Great production base. Stock rose when the very successful team from Rally Energy went into the company and knew what to do around the Mediterranean. He hopes to come out of this depressed oil price as an owner of this company.

DON'T BUY

Same management that used to have Rally Energy (RAL-T). There is a premium in the stock for the current management, but for him it is fairly priced. Would prefer it when it is out of favour.

BUY

Oil and gas in Albania. Stocks lifted dramatically because of new management coming in from Rally. Looking for a lot of good things such as production growth and creation of reserves in the ground. Stock should continue to do well.

BUY

Focused in Albania. Did 4975 BOE's of oil in Q3 of 07. Doing re-completions of a heavy oil play. Looking for 7000 next year. Buy with a 2-year time horizon.

BUY

Heavy oil in Albania. The former Rally management team is coming in. They will be reengineering the fields. Speculative.

TOP PICK

Petroleum in Albania. A great asset that was underutilized and under managed by the previous team. Previous management from Rally Energy has taken over. Excellent management. Expect it will be a 2 year play.

WAIT

Warrants -This is the most leveraged play, so you would be looking at some pretty decent upside if the stock turns out well. A new management team (from Rally Energy) has come in. Investors are playing the prospect that the new team will be able to surface shareholder value. May be a better opportunity after the market cools off of the excitement of the new management team.

BUY

Heavy oil in Albania and tight gas in the US. Did over 5000 BOE's a day. New management team from the old Rally Energy, who had been very successful with heavy oil in Egypt, will be coming in on Feb 08, which has pushed the stock up. Would like to see them do a reverse split to give it more of an institutional price tag. Going for a better recovery through thermal. Likes the story.

BUY

LIkes it because they are producing 5000 bue's in Albania. Also trying to double the production by thermal and by water flood. Just on the Albania story it's worth owning. The US shale part is also interesting.

BUY

Asset of 2 billion barrels of initial oil and are only recovering about 6%, but with new technology this could increase to over 34%.

BUY

Heavy oil in eastern Europe. An undervalued story. If they can execute the operations, it should be worth twice as much as it is today.

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Bankers Petroleum (BNK.TO)