Bankers Petroleum, $3.33, symbol BNK on Toronto (Shares outstanding: 254.5 million; Market cap: $870.4 million; www.bankerspetroleum.com), is a Canadian firm with heavy-oil assets in Albania.
The company produces over 18,300 barrels a day from its Patos Marinza heavy-oil field. It also holds 100% of the nearby Kucova field. Bankers has a deal with state-owned Albpetrol to take over and reactivate 120 to 130 wells each year.
The company believes it can continue to increase its production and cash flow.
Even with lower oil prices, Bankers could report cash flow as high as $0.96 U.S. a share this year and $1.14 U.S. in 2014. The company holds cash of $26.3 million U.S., or $0.10 a share. Its long-term debt of $97.9 million is a low 11.2% of its market cap.
The company’s focus on Albania entails some political, economic and currency risk, but the stock is okay for highly aggressive investors to hold.
hold.
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