Bankers reported 1Q16 production of 17,363 bbl/d and cash flow of US$1.5 mm. Cash flow was weaker than expected, due to sales volumes and lower realized pricing that was temporarily reduced in 1Q16 to compete with other heavy crude oil volumes in a very weak price environment. The 1Q16 results are overshadowed by the pending acquisition by Geo-Jade Petroleum. Geo-Jade Petroleum has offered a cash price of C$2.20 per share for Bankers Petroleum, which currently represents a 15% premium to the cur ....
