Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BANKERS PETROLEUM LTD. We currently have 41 research reports from 3 professional analysts.
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BANKERS PETROLEUM LTD
BANKERS PETROLEUM LTD
Final Approval to Close Acquisition by GeoJade Petroleum Received
12 Sep 16
Geo-Jade Petroleum has received Chinese State Administration of Foreign Exchange (SAFE) approval to complete the acquisition of Bankers Petroleum for C$2.20 per share. There are no additional regulatory hurdles for Geo-Jade to acquire Bankers. It is expected that completion of the agreement to acquire Bankers will take approximately two weeks, and will be finalized prior to September 30, 2016. Bankers stock will be delisted prior to the end of September 2016. With this positive update, and due to the stock being halted at $2.18 per share prior to the announcement, we have adjusted our ranking from Outperform to Tender. Our target price of $2.20 per share matches the acquisition price.
ANNOUNCES THE SUCCESSFUL RESOLUTION OF THE TAX ASSESSMENT DISPUTE
29 Aug 16
Market Impact: Positive. Bankers has announced that the tax assessment dispute has been positively resolved. As expected, a third-party auditor determined that Bankers did report its expenses properly. The Company has paid a total of US$37 mm (equivalent to C$0.18 per share) that can now be recaptured. Recall, the original tax assessment was for US$57 mm (equivalent to C$0.28 per share). The acquisition of Bankers by Geo-Jade Petroleum is ongoing. Resolution of the tax dispute should be viewed positively in the context of the acquisition proceeding.
ANNOUNCES 2Q16 RESULTS
11 Aug 16
Market Impact: Neutral. The pending acquisition by Geo-Jade at a price of C$2.20 per share outweighs 2Q16 results. The acquisition is expected to close by September 30, 2016 and only remains subject to regulatory approval of the Chinese State Administration of Foreign Exchange (SAFE). If SAFE approval is not received by September 30, 2016, Bankers is entitled to the US$20 mm (equivalent to C$0.10 per share) reverse termination fee, should Bankers elect to terminate the agreement.
ANNOUNCES EXTENSION TO ACQUISITION AGREEMENT WITH GEO-JADE PETROLEUM
31 Jul 16
Market Impact: Neutral. The acquisition agreement between Bankers and Geo-Jade has not yet closed, due to delays in receiving regulatory approval from the Chinese Stare Administration of Foreign Exchange (SAFE). The delay is not unexpected, given the timing to date and the typical nature of government bureaucracies. Bankers stock is already trading at a discount of 9% to the acquisition price of $C2.20 per share.
REPORTS 2Q16 OPERATIONAL UPDATE
06 Jul 16
Market Impact: Neutral. The acquisition of Bankers by Geo Jade is still expected to close in July 2016e, which outweighs a small production curtailment in 2Q16 due to an interruption at the port facility and the shut-in of production for some maintenance and optimization work.
GMP FirstEnergy ― UK Energy morning research package
06 Dec 16
Transglobe Energy (TGL CN); BUY, C$5.25: Homeward bound… back to Canada | Great Eastern Energy Corporation (GEEC LN) (not covered): Reserves update in India | BP (BP LN) (not covered): Acquiring interest in Tangguh in Indonesia | Exillon Energy (EXI LN) (not covered): Production update in Russia | Genel Energy (GENL LN); SPECULATIVE BUY, £2.60: Receipt of payment for Taq Taq export in Kurdistan | ExxonMobil (XOM US) (not covered): Relinquishing blocks in Kurdistan
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
16 Jan 17
We take a look at the rankings of the various countries in Africa that have a significant exposure to mining. We take the Transparency International corruption rankings as our starting point and modify these for exceptional geology and for current UK government travel warnings. Ghana, Botswana and Namibia come out as our top three, with Eritrea, Kenya and Zimbabwe at the bottom of our rankings.
19 Jan 17
Aggregated Micro Power* (AMPH): Funding for first peaking power plant project (CORP) | The Mission Marketing Group* (TMMG): Positive trading update (CORP) | Cello (CLL): Increasingly backed by, and leveraging, technology (BUY) | 4imprint (FOUR): Growth backed by strong cash flow continues (BUY) | Allergy Therapeutics (AGY): Positive trading update and market share gains drive upgrades (BUY) | Shanta Gold (SHG): Q4 operating results (BUY) | Sound Energy (SOU): Tendrara extended well test result (BUY) | Revolution Bars (RBG): Price target increase (BUY)
Small Cap Breakfast
17 Jan 17
Global Energy Development (GED.L) — To be renamed Nautilus Marine Services. Schedule 1 from developer and seller of hydrocarbons and related products. Reverse takeover. Raising $10.5m via a convertible. Expected 9 Feb. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January.