BNK Petroleum Inc.

BNK Petroleum Inc. is an international oil and gas exploration and production company focused on finding and exploiting large, predominately unconventional oil and gas resource plays. Through its subsidiaries, the company owns and operates shale oil and gas properties in the United States. Additionally, the company is utilizing its technical and operational expertise to identify and acquire additional unconventional projects.

Expert Comments:

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Bill Newman, Mackie Research Capital

"Yesterday, BNK Petroleum Inc. released its Q1/19 financial results, which were in line with expectations. . .for the month of April 2019, production from the Anderson well increased to an average rate of 425 boepd (81% oil)."

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Bill Newman, Mackie Research Capital

"BNK Petroleum Inc.'s Q4/18 cash flow of $2.5M was in line with our forecast of US$2.3M; the company achieved an impressive field netback of $29.81/bbl or about CA$39.56/bbl for Q4/18. Production in 2018 averaged 1,662 boe/d and generated cash flow of $11.5M."

Clive Maund, CliveMaund.com

"There has been a big volume buildup in BNK Petroleum Inc., a U.S.-traded stock, since the start of the year, with the on-balance volume line surging in recent weeks. . .this action is viewed as greatly increasing the chances that the upside breakout that we have been looking for is going to occur soon."

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Bill Newman, Mackie Research Capital

"BKX Petroleum Inc. released the results of its year-end 2018 reserves, which showed an 11% increase in Proven and Probable reserves, with an after-tax value of $430.9M or about CA$2.40/share. The increase in reserves is primarily due to the company's 2018 drill program and existing producing wells outperforming previous forecasts."

Bill Newman, Mackie Research Capital

"BNK Petroleum Inc.'s Anderson 1-15H10X3 well commenced flowback six days ago. Management believes that due to the extra length of the lateral, the Anderson well will likely require 30 days of flowback before meaningful initial production rates are available. . .we look forward to the results of the Anderson 1-15H10X3 well, which are expected in the coming weeks."

Bill Newman, Mackie Research Capital

"BNK Petroleum Inc. recently drilled and cased two horizontal wells, both under budget, in its Tishomingo field. Fracture stimulation of the Brock 4-2H (77% working interest) commenced this week, and completion and testing of the Anderson 1-15H1-X2 well are expected to commence in mid-November."

More Expert Comments

Experts Following This Company

Clive Maund – CliveMaund.com
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Bill Newman, Senior Analyst, Energy – Mackie Research Capital

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Investing Highlights
Value - current market cap US $77 million, YE reserve report proved us $259 mil, Prov/Prob $486 mil
Have over 160 well locations to drill, production is over 75% oil, pricing is WTI less a few dollars
2nd Qtr 2018, $3.4 mil in funds from continuing operations (annualizing this doubles last yrs number)
catalyst Calendar
Drilled Brock 4-2H, 77% WI, balance owned by large international oil company-completion est in Nov