|yesterday 11:23||ghhghh||Had chat with Bowleven yesterday.
Reassured that they have a back up plan just in case a problem/delay with the Lukoil/New Age farm out. Appears very unlikely and Bowleven convinced Lukoil keen to proceed. Deal completion now hinges on SNH approving transfer of licence to Lukoil. This means checking out Lukoil's financial ability to satisfy Licence commitments. Lukoil has a market cap of... read more...|
|29 Aug 2014||gloucester rugby||Just some thoughts.
Firstly SNH took up Back in Rights of 20%. Which means they are committed to the success of the Etinde project.
What everyone agrees with is that we have the assets but issue with monitisation. What the deal gives us is the cash to monitise. Lukoil as our partner have the financial and technical muscle to develop the field and as Ghhgh has said, they provide us with an... read more...|
|27 Aug 2014||ghhghh||nico
What about the cash position and BLVN's ability to continue as a
going concern? None of the cheerleaders seem to mention this. If a
deal with Lukoil (or someone else) isn't completed by the end of
October the company will be running on empty as it'll be down to
around £10m when you factor in contingent liabilities. The
auditor will be reluctant to sign off as a going concern... read more...|
|27 Aug 2014||nosnibord||Cyan, can you say 30p again? The more you say it the more likely it
is to happen you know. So 30p is a crazy price yet 33p isn't? Spot
the position poster! read more...|
My guess is a small loan. We are not talking much money to tide over until another farm out or sale. Should be easy in view of asset backing as demonstrated by Lukoil farm out.
9 months is nothing! 4 high impact wells is exceptional. We should be drilling Bomono by YE which is only 3 months away.
The development would be staged? Phase 1 is Fertiliser and should proceed... read more...|
|28 Aug 2014||j drama||You'd think being in Scotland they'd be a bit tighter with their
Completely agree but unfortunately it's all too common with AIM
companies, if KH was running his own company I'm sure the overheads
would half what they are now. read more...|
|yesterday 21:42||robjam1970||Dear John
A little clarification required I see - only just noticed the ambiguity.
The term Hampton was not used in terms of Hampton, John; but in the context of Hampton wick(edwend) i.e.......
Pure coincidence,sorry - guess I should have just used some of the unimaginative vocabulary that some of the slugs on here use, instead of trying to be a little creative.
Hope this clarifies
RJ (alias... read more...|
|yesterday 14:57||loglorry1||My only worry is that we got in this mess by not fully appraising Etinde before running out of money. It looks like NA/Lukoil want to do the job "properly" and so have given BLVN enough cash to carry out a much more extensive appraisal program in return for taking 50% of the asset.
Assuming the appraisal program is moderately successful what worries me is that post appraisal there will be yet... read more...|
|yesterday 14:44||nosnibord||ghhghh - thanks for your reply and I agree with your comments but the drills are still a way off and there is nothing on the horizon to prevent further mcap capitulation in the meantime.
It's all very well these events being on the "horizon" but we've endured a very long waiting period already and it doesn't appear that it's to change in the immediate future. read more...|
|yesterday 12:41||nosnibord||I see someone has voted my comment down. Exactly what parts of what I said are incorrect assumptions based on inferences from ghhghh's post? I'd love to know because it's genuine frustration here, not an attempt to knock sentiment. read more...|