Globe says Nuttall expects Bankers to be sold next year
2011-02-10 08:47 ET - In the News
The Globe and Mail reports in its Thursday, Feb. 10, edition that Sprott Asset Management portfolio manager Eric Nuttall believes Bankers Petroleum is ready to soar in tandem with the price of oil. Clea Simos writes in The Globe's BNN Market Call column that Mr. Nuttall says: "Bankers is a low-risk heavy oil development story that has tremendous leverage to a stronger oil price. ... If the price of oil continues to be strong, we expect Bankers to sell themselves in March, 2012, for over $14 a share." The stock finished Wednesday in Toronto at $8.70, down 27 cents. David Whetham of Scotia Asset Management said in The Globe on April 21, 2010, that Bankers Petroleum still had "good growth potential with little risk." It could then be had for $8.71. Mr. Nuttall recommended buying Banker Petroleum in The Globe on June 15, 2010. In the item Mr. Nuttall said Bankers Petroleum will likely be sold over the next two years and fetch about $12 a share. The shares were then worth $7.33. Mr. Nuttall's top holdings in the Sprott Energy Fund are WestFire Energy at 7.5 per cent, Novus Energy at 5.3 per cent, Bankers Petroleum at 4.9 per cent, Painted Pony Petroleum at 4.8 per cent and Vero Energy at 4.7 per cent.
Bankers Petroleum buys put contracts for 2012
BNK.TO - Bankers Pete Ltd (TSX)
Date Open High Low Last Change Volume % Change 03/07/11 9.8500 9.9200 9.6300 9.8500 +0.1200 3211562 +1.23%
Today's Opinion: 96% Buy
Yesterday's Opinion: 96% Buy
Last Week's Opinion: 96% Buy
Last Month's Opinion: 96% Buy
Ratings: Strength: Direction: 0-10 10-20 20-30 30-40 40-50 50-60 60-70 70-80 80-90 90-100
Bankers Petroleum Ltd (2) Symbol C : BNK Shares Issued Close 2011-02-24 C$ 9.14
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2011-02-25 08:19 ET - News Release
Mr. Abby Badwi reports
BANKERS PETROLEUM IMPLEMENTS 2012 OIL HEDGING CONTRACTS
Bankers Petroleum Ltd. has purchased put contracts representing 4,000 barrels of oil per day at $80 (U.S.) per barrel of dated Brent for the period Jan. 1, 2012, to Dec. 31, 2012. This volume represents approximately 20 per cent of the company's forecasted 2012 average production in Albania. The hedge is strictly financial and does not take into account the Patos-Marinza crude price differential to dated Brent.
With the recent spike in oil prices due to the current geopolitical situation in the Middle East and North Africa, and with the company's Patos-Marinza oil marketing agreements priced relative to the Brent oil price, the company elected to implement this relatively inexpensive strategy to start in 2012 as a form of insurance to have downside protection below $80 (U.S.) per barrel, on a percentage of its production representative of field declines, while continuing full upside participation above the strike price on all 2012 production. If oil prices drop below $80 (U.S.) per barrel, these hedge contracts and the resulting production cash flow would generate sufficient revenue to finance a significant portion of the company's capital program in 2012 and service any outstanding debt during that period.
Additional oil hedging contracts might be considered in the future as part of Bankers overall risk management strategy.
| Short History |  |
| | Symbol | Report Date | Volume | Change | % of Float | |
| BNK - T | 2011-02-28 | 7,064,270 | 1,737,961 | 2.87 | | |
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| BNK - T | 2011-02-15 | 5,326,309 | -12,657 | 2.16 | | |
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| BNK - T | 2011-01-31 | 5,338,966 | 134,949 | | ||
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| BNK - T | 2011-01-15 | 5,204,017 | -12,766 | |||
BNK.TO - Bankers Pete Ltd (TSX)
| Date | Open | High | Low | Last | Change | Volume | % Change |
| 03/07/11 | 9.8500 | 9.9200 | 9.6300 | 9.8500 | +0.1200 | 3211562 | +1.23% |
| Composite Indicator | -- Signal -- | -- Strength -- | -- Direction -- |
| Trend Spotter (TM) | Buy | Average | Strengthening |
| Short Term Indicators | |||
| 7 Day Average Directional Indicator | Buy | Average | Strongest |
| 10 - 8 Day Moving Average Hilo Channel | Buy | Weak | Weakening |
| 20 Day Moving Average vs Price | Buy | Strong | Strongest |
| 20 - 50 Day MACD Oscillator | Buy | Maximum | Strongest |
| 20 Day Bollinger Bands | Hold | Falling | |
| Short Term Indicators Average: | 80% - Buy | ||
| Medium Term Indicators | |||
| 40 Day Commodity Channel Index | Buy | Average | Weakest |
| 50 Day Moving Average vs Price | Buy | Maximum | Strongest |
| 20 - 100 Day MACD Oscillator | Buy | Maximum | Strongest |
| 50 Day Parabolic Time/Price | Buy | Average | Weakening |
| Medium Term Indicators Average: | 100% - Buy | ||
| Long Term Indicators | |||
| 60 Day Commodity Channel Index | Buy | Weak | Strongest |
| 100 Day Moving Average vs Price | Buy | Maximum | Strongest |
| 50 - 100 Day MACD Oscillator | Buy | Maximum | Strongest |
| Long Term Indicators Average: | 100% - Buy | ||
| Overall Average: | 96% - Buy | ||
BANKERS PETROLEUM LTD.
(Toronto: BNK.TO )| Last Trade: | 9.41 |
|---|---|
| Trade Time: | 10:41AM EST |
| Change: |  0.44 (4.47%) |
| Prev Close: | 9.85 |
| Open: | 9.82 |
| Bid: | 9.40 |
| Ask: | 9.41 |
| 1y Target Est: | 11.38 |
| Day's Range: | 9.33 - 9.85 |
|---|---|
| 52wk Range: | 6.15 - 9.92 |
| Volume: | 696,024 |
| Avg Vol (3m): | 2,411,450 |
| Market Cap: | 2.30B |
| P/E (ttm): | 235.25 |
| EPS (ttm): | 0.04 |
| Div & Yield: | N/A (N/A |
| House Positions for C:BNK from 20110308 to 20110308 |
House Positions for C:BNK from 20110308 to 20110308 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 7 TD Sec | 137,605 | 1,304,038 | 9.477 | 63,550 | 600,101 | 9.443 | 74,055 | -703,937 |
| 99 Jitney | 130,900 | 1,229,420 | 9.392 | 62,400 | 589,278 | 9.444 | 68,500 | -640,142 |
| 77 Peters | 83,700 | 785,807 | 9.388 | 39,800 | 373,722 | 9.39 | 43,900 | -412,085 |
| 2 RBC | 71,354 | 678,944 | 9.515 | 27,900 | 264,488 | 9.48 | 43,454 | -414,456 |
| 52 NCP | 48,560 | 458,610 | 9.444 | 24,430 | 229,048 | 9.376 | 24,130 | -229,562 |
| 82 Stifel Nicholas | 14,400 | 134,484 | 9.339 | 0 | 14,400 | -134,484 | ||
| 39 Merrill Lynch | 14,600 | 137,499 | 9.418 | 6,200 | 58,908 | 9.501 | 8,400 | -78,591 |
| 101 Newedge | 9,100 | 86,741 | 9.532 | 3,000 | 28,564 | 9.521 | 6,100 | -58,177 |
| 65 Goldman | 7,900 | 74,096 | 9.379 | 2,300 | 21,604 | 9.393 | 5,600 | -52,492 |
| 80 National Bank | 20,100 | 188,567 | 9.381 | 15,200 | 142,818 | 9.396 | 4,900 | -45,749 |
| 9 BMO Nesbitt | 18,625 | 176,358 | 9.469 | 14,650 | 139,969 | 9.554 | 3,975 | -36,389 |
| 15 UBS | 8,600 | 80,752 | 9.39 | 6,000 | 57,005 | 9.501 | 2,600 | -23,747 |
| 22 Fidelity | 2,000 | 18,740 | 9.37 | 0 | 2,000 | -18,740 | ||
| 86 Pictet | 1,855 | 17,809 | 9.601 | 0 | 1,855 | -17,809 | ||
| 19 Desjardins | 46,400 | 441,722 | 9.52 | 45,200 | 431,242 | 9.541 | 1,200 | -10,480 |
| 124 Questrade | 3,920 | 36,574 | 9.33 | 3,640 | 35,221 | 9.676 | 280 | -1,353 |
| 12 Wellington | 4,000 | 37,600 | 9.40 | 4,000 | 38,240 | 9.56 | 0 | 640 |
| 10 FirstEnergy | 0 | 100 | 985 | 9.85 | -100 | 985 | ||
| 70 Manulife | 0 | 210 | 2,009 | 9.567 | -210 | 2,009 | ||
| 58 Qtrade | 1,500 | 14,140 | 9.427 | 2,000 | 18,780 | 9.39 | -500 | 4,640 |
| 33 Canaccord | 11,800 | 111,156 | 9.42 | 12,800 | 121,160 | 9.466 | -1,000 | 10,004 |
| 57 Interactive | 0 | 1,969 | 18,256 | 9.272 | -1,969 | 18,256 | ||
| 62 Haywood | 0 | 2,500 | 23,420 | 9.368 | -2,500 | 23,420 | ||
| 13 Instinet | 200 | 1,958 | 9.79 | 4,700 | 44,615 | 9.493 | -4,500 | 42,657 |
| 89 Raymond James | 106,100 | 994,741 | 9.376 | 111,500 | 1,045,800 | 9.379 | -5,400 | 51,059 |
| 81 HSBC | 100 | 940 | 9.40 | 7,100 | 66,995 | 9.436 | -7,000 | 66,055 |
| 90 Barclays | 100 | 939 | 9.39 | 7,700 | 74,366 | 9.658 | -7,600 | 73,427 |
| 11 MacQuarie | 100,000 | 943,000 | 9.43 | 114,200 | 1,076,108 | 9.423 | -14,200 | 133,108 |
| 72 Credit Suisse | 20,400 | 191,814 | 9.403 | 58,577 | 547,216 | 9.342 | -38,177 | 355,402 |
| 85 Scotia | 42,000 | 397,727 | 9.47 | 82,500 | 785,803 | 9.525 | -40,500 | 388,076 |
| 1 Anonymous | 93,600 | 883,339 | 9.437 | 134,300 | 1,264,323 | 9.414 | -40,700 | 380,984 |
| 53 Morgan Stanley | 4,100 | 38,752 | 9.452 | 71,100 | 673,011 | 9.466 | -67,000 | 634,259 |
| 79 CIBC | 146,271 | 1,379,722 | 9.433 | 220,264 | 2,072,934 | 9.411 | -73,993 | 693,212 |
| TOTAL | 1,149,790 | 10,845,989 | 9.433 | 1,149,790 | 10,845,989 | 9.433 | 0 | 0 |
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