13:13:52 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Bankers Petroleum Ltd (2)
Symbol BNK
Shares Issued 261,084,393
Close 2015-03-05 C$ 2.99
Market Cap C$ 780,642,335
Recent Sedar Documents

Lundin says hold Bankers Petroleum

2015-03-05 21:20 ET - In the News

Brien Lundin, in the March, 2015, edition of the Gold Newsletter, says hold Bankers Petroleum Ltd., recently $3.14. Mr. Lundin said buy Bankers eight times between October, 2005, and February, 2010, at prices ranging from 52 cents to $6.07 (the stock rolled back 1:3 in July, 2008). Along the way, he twice said take some profits -- perhaps sell half -- at $1.80 and $9.27. Assuming a $1,000 investment for each of the eight buys, the two half sales yielded profits of $1,216 and $5,276, respectively, and left a position that cost $3,500. Mr. Lundin said buy four more times between September, 2010, and April, 2013, at prices ranging from $2.62 to $6.87. Assuming a $1,000 investment for each of the four new buys and taking into account the $3,500 investment left after the two half sales, the $7,500 position is now worth $7,601. Bankers has decided to spend $153-million on capital expenditures in 2015, down from its original plan of $218-million as reported last December. The company will spend the money on infrastructure programs, on drilling 60 horizontal wells and on converting 20 existing wells to polymer injection. The editor says Bankers can handle the down market because it has $73-million in cash and a hedge in place for 6,000 barrels of oil a day at $80 a barrel.

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