BANKERS PETROLEUM
(T-BNK)
$3.77 +0.02
PAINTED PONY PETROLEUM
(V-PPY.A)
$3.69 +0.09
Sometimes you take a trip and it makes a difference and
the one trip we’ve made in the last year or so that has made
a huge difference to us, was our trip to Albania. We had an
incredibly gracious host in Abby Badwi as we went to see
their Patos Marinza project in southern Albania. Along for
the trip was Bryan Slusarchuk, the President of Tirex Re-
sources, the mining company with assets in northern Albania
and Bryan was also a Bankers shareholder.
To see the country once so poor, now catching up and
embracing a new economy was heart-warming. To see no
McDonalds, KFC or anything the west takes for granted was
also a taste of their future to come. To see the amazing
beaches yet to be developed and to see the three quarters of
a million bomb shelters Hoxha had built and wasted the
countries resources on, showed some of their disappointing
past.
But to see first-hand the thousands of old Chinese and
Russian relics of rigs on Bankers property that just went on
and on and on, suggested that Bankers was onto something
that could be big. Very big.
We’ve written about it several times over the last while,
but the story really got going—and we have to credit Kevin
Shaw of Wellington West, when he wrote a 32-page report on
Bankers published on July 9th that made Bay Street realize
that Bankers was more about a reserve play than cash flow
and production.
The stock has more than doubled since Kevin’s report
went out and I think he gained a lot of fans because of the
reports importance and significance. We’ve enjoyed the run
on Bankers, but now the easy money has probably been
made and now it will take real production and cash flow in-
crease with the new technology to justify higher prices.
Given time, we expect that it will happen and sometime,
like Rally Energy, Badwi will sell the company to somebody
really big.
In the meantime, we were wondering what Kevin Shaw’s
next report would be on, while he is currently in Albania
touring Bankers property. His newest report just out fea-
tures Painted Pony. We thought we would be looking for
something splashy and pizzazzy with huge upside, not a
mere 40% return on a stock that was big on natural gas at a
time the world is lousy with gas and it has already been writ-
ten up by people like Keith Schaefer of Oil and Gas Invest-
ments.
Disappointing…? Hoping for something more? Well,
probably, but the point should be made that is there is going
to more consolidation in the Bakken, Painted Pony is one of
the few players left with a huge land holding in that area and
yes, a take over on Painted Pony is rumoured by some.