middler2
21 Mar 2016
Re: Reason for rise in price ? Takeover by the Chinese. See Fortune.The company has been one of Albania’s largest foreign investors.Canada’s Bankers Petroleum Ltd , one of Albania’s largest foreign investors, said on Sunday it has agreed to be acquired by affiliates of China’s Geo-Jade Petroleum Corp for C$575 million ($442.34 million).Bankers Petroleum said it will be bought by firms owned by the Chinese oil and gas exploration and production company for C$2.20 ($1.69) per share.Shares of Bankers Petroleum closed at C$1.11 in Toronto on Friday.For more on the oil industry, watch: The Canadian company said its corporate and technical headquarters will remain in Calgary. The deal is subject to shareholder approval at a meeting before the end of May. Bankers Petroleum said the company will be delisted after the sale.Bankers Petroleum began exploration in Albania in 2004 and operates the largest onshore oil field in continental Europe, according to the Albania Energy Association.The Albanian government has accused Bankers Petroleum of understating earnings to avoid its 50% profit tax. It announced in January it will renegotiate its oil output-sharing contracts and impose a limit on expenses that oil companies can use to offset tax liability.Sponsor Center MoreBeijing Fumbles for a Response to Terrorism
Fatlunch
21 Mar 2016
Reason for rise in price ? Does anyone know the reason ?Thanks FL
II Editor
08 Apr 2015
NEW ARTICLE: Trends and Targets for 9/04/2015 "BANKERS PETÂ (LSE:BNK) Â has an amusing company name which at first glance doubtless alludes to politicians. However, PET expands into Petroleum, thus spoiling the chance of a cheap joke at Gordon Browns expense. This is one of the unloved ..."[link]
