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Bowleven (BLVN) Takeover Rumours

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From memory The costs of FEED , provided primarily by Petrofac, have been paid on an ongoing beaus. KH stated that as BLVN was very much dependent upon Ferostaal for Fid FEEd commitments and costs would be tailored to match that timetable. Hence the fundraising to cover a FEEd costs. Therfore we can interpret that Petrofac have been paid for services provided and that any break penalty will not have to include past costs. Any arbitration would look at contractural terms and if there is clearly a worse case scenario of full takeover and $15m penalty then I am fairly confident that without past costs and with Petrofac being handsomely paid for FEEd support so far $15m will be the maximum. Just read reprint of Hub post on other thread. If we are to be valued as cash then currently we should be valued at around 5p as that is the amount of cash minus Bonomo liability that we have. Infact 5p is generous. G R
Cheers Paulson this from lse is for you..trader250Posts: 305Off TopicOpinion: Strong BuyPrice: 40.00View Thread (3)RE: Blog eveil knievel buy recToday 15:22Yes, West Africa is attracting a lot of industry interest and I think BLVN being considered as takeover candidate as we are presently so cheap. (I note some posters on iii seem to think EA is still being considered - it is a given as simply a rubber-stamping exercise now just as anything else of material significance has to be officially signed by the President). Certainly momentum building up now and SP should re-rate to 70p in short term.
West African Minerals Corporation (WAFM) Takeover Talk,Jindal Steel and Power (JSPL) is close to acquiring an iron ore mine in West Africa to secure raw material for its recently commissioned steel… http://jimjamposts.tumblr.com/
The obsession with short termist takeover offers amazes me. It is certainly a possibility both pre and post deal. As Colebrooke states it has happened a number of times before. However, its a quick fix and would cerainly undervalue Bowleven's potential. they have a 4 well compaign with very significant upside. Our 20% will be worth a lot more than it is currently worth post those appraisals when P90 becomes P10 and P50.
Between a rock and a hardplace? No funds time running out! As the FO deal is clearly a non starter because of the liablity costs to PFC which as yet are unknown the only appropriate course of action is to invite takeover offers. I Suttie must be seething, why isn't he pushing for a full TO or is the different agenda at play? No TO by July 21 I believe it's bust or close to dilution as PFC compensation bill might be large?. And there's me led to believe that the industry would put a value on it with a TO, well where is it. Must be waiting for the shit to hit the fan and want it for peanuts. KH out manouvered at every turn what a plonker! Don't forget the fools who hang on his and lecons every word, a prayer is needed for them.
KMR: Bid for 20p on the way. hxxp://www.smh.com.au/business/mining-and-resources/iluka-makes-takeover-offer-for-kenmare-resources-20140626-zsmxs.html
log - I'm still here and just to set the record straight (as i assume you are being facetious) i never said we would be sold for 150 pre FID! I accept now, after this deal that our takeover value has diminished significantly (obviously) as we have a smaller pie to sell. In much the same way we won't be taken out for 60, as you and paul have been claiming for weeks up until the announcement, we won't go for 150 either. Infact unless a white knight emerges we're not getting taken over at all! I'm still very much a bull and actually am pleased with the outcome all things being equal. Yes we'd have liked a better deal, but at least for us long termers we can bottom draw this and carry on with our lives without worrying that we're going to be flogged for 60p or even worse run out of cash!
Sorry, my question is if you think the above why are you considering buying more? All i would say to points 1 thru 3 - what would you have done differently (please don't say sell the company). We all knew he was in discussion about a farm out and are now not happy with the terms. Its silly. Hes done hist best and managed to keep 25% and some drills in the bag. We now will have no more financial uncertainty hanging over us. Yes we would have liked 500m but as Log and ghh say - these are tough times in junior oil and gas. IMO Kev has made the best of bad situation and we should be thankful that our investment is now safeguarded and underlined for the long time. The only folk miffed are the get rich(er) quick crew who were clambering for a takeover. If Kev says its a good deal - I trust him.
I notice a lot more are speaking up now after my postings last night and also now that Le Conn and his fantasist crew are no longer posturing and ganging up against those with an alternative view. In fact I swear some of his crew and positively mutinous. If we can have 70 pence with a takeover why wait 3 years when we can have it right now? I back WShak's campaign and pledge my 1%. Anybody that says we should wait three years that is positively daft. This is never going back to a pound. Hart cannot be trusted to spend another BLVN dollar. Hart should get fired and stuff his presentations where the sun does not shine. If that cannot be voted through, he should have his and his staff's salary trimmed by 66%. These are lean times and austerity should start at the top.
The mugs were grunting TO's anywhere £1-£3 not so long ago. The fake lippy was bought at a back st mkt stall. The mugs cross dressers(hyacynth69) are now crying into their pints mascarer running down their cheeks, boo hoo. Winnets needs to wipe his arse before he speaks another deluded fool. No takeover by 21 july,.. 30p beckons soon after and when the cash runs out before Etinde comes on stream more dilution 5p. Shareholders fleeced again but the back slappers at the 27 Feb can't see it, taken for a ride again. Hang your heads in shame mugs.
Change; Agreed- I think that's the whole idea of the article, to put out noises that big shareholders are up for a full takeover rather this farm out deal. You never know, it might just work.
i can't fault your maths...but clearly 41p & HNWIs up in arms trying to scupper this deal or extract a T/O instead tells you all you need to know ---------- That they were hoping for a takeover...
I can't see anyone making a takeover bid in the next 3 weeks, that's just clutching at straws. Takeover mid to late 2016 would be my guestimation, assuming Kenya doesn't turn out to be a monster:)
Kness I have always in Estes here with a long term outlook. Downside is minimal and luckily I am in profit. I believe in the upside in etinde and bomono. Whilst underpinning the share price it is very much a jam tomorrow deal. Would be surprised if no takeover bid is flushed out.
ghh ghh I'm not going to get into a spat about this. As i've said before, today is a good day and I'm happy. I don't recall i ever 'called it' what i am calling is that BLVN are on plan and on target to develop Etinde and to monitise their aset. I'm not the one that wanted a takeover! (at 60p lol) So i'm really pleased you made some dosh. I really mean that as you've obviously done a bit of homework. I think you may live to regret selling such a large amount, but that is not something that will keep me awake at night. Thats good for you, really. I am pleased you now have conceded that we're not likely to be taken over for 60p - I like you hope we (if its still we) get taken over but i have a feeling you wont be around to see it... This whole deal is all about 2 free drills on Etinde updip.I guess you'll be back to join the party closer to the time, but you'll be paying a much larger premium IMO. GL and good night.
Quick Question: If one or more companies had already started doing some due diligence on BLVN with respect to takeover or farm in, then Kev wouldn't have been able to inform them of the Lukoil/NA talks. At the same time, he would not be have been able to inform Lukoil or NA about the approaches of others, assuming that those approaches had been subject to confidentiality agreement and not amounting to an 'an offer'. It's quite possible that there might be a counter off 'on the shelf' read to go somewhere, which means that it could come in the next 3 weeks before today's deal is signed. Might that be why Kev sounded so bullish on the conference call? He knows a better offer might come and that today's offer might be the least we can expect but still good enough to see us through to FID and production? Unlikely IMO, but still possible.
Good post chicken. I think the mood here sums up the sort term mind set of the private investor. We, I say we, are so fixated with take overs and the next multi bagger that we fail to see any positives in today's news. Institutions (see how many pats on the back KH received in the conference call) realize that this one deal has secured a solid financial future for the company whilst still retaining a decent sized stake in a large upstream development. Perhaps we all need to retune our expectations in terms of market cap versus Capex costs to bring a project like this online. We are just a minnow in the grand scheme of things. Im not saying I wouldn't have preferred a takeover but I'm sure that once the dust settles we will start to see a steady rise on the back of Institutions reentering. GSA meeting is apparently scheduled for mid July so hopefully once this is completed we can all look forward and not back.
Well if no takeover: Cash: $170 million = 31p Little extra for what is left over from last placing: say 4.5p ($25 million?). Post-wells: $40 million = 7.5p Post FID: $40 million = 7.5p So 35p in cash in 3 weeks and possibility of that being 50p this time next year. Then factor in expenditure in the next year (assuming it is pretty limited aside from admin costs and a possible Bomono contribution). Then risk weight the conditional $80 million and you get say a total 40p cash value NOW. (35 (cash) + 15 (conditional cash) - 10 (expenditure and discounting) Then add in BLVN's 20%. At todays valuation it is 23p ($125 million). This needs to be risk weighted and discounted to say 15p. Clearly it could be alot more if the appraisal wells hit the bullseye. Add in a bit for Kenya. Anyhow the above to me gives a floor valuation of 50p minimum NOW.
ps log - re appraisals - i know - its was a typing error. 210 plus 40. I get it. Lets stop all this 60-70p takeover would have been better chat. Better for who? Not for me! Let just draw a line under it. Its now not happening so end of story.
buy more It did with Caracal when they had a ferm out/merger planned. Glencore swooped in with a better takeover offer!
BLVN: was hoping for a takeover but unlikely now? QPP: shambolic.
ghgh I firmly believe the upside on Etinde will take our 20/25% in terms of resources back up to what it is with 75% of the acreage. The Intra is potentially a mammoth play and this deal derisks the company. We now have more cash nearly than the market cap and for the time being the assets thrown in for free. 2 Appraisal drills 2 bomono drills All to play for. In many ways very attractive but makes takeover unlikely.
James-If this farm out cancels the petrofac agreement what's there to say they can't throw in a takeover...? Your views please
bones - i'm not sure what you mean by that post. I've said all along - no takeover at 60p. I'm not suggesting and never have done that this is going to fly to 150 or that our oil/gas is worth 15$! I think you have have misinterpreted something. I'm off out for the day. Good luck to all holders. Genuinely.
I'm not knocking anything, least of all you as I value your opinion - however on this occasion it looking like your 60p takeover expectation has been shot out the water by this mornings news...It would be nice to see some humility! If we were to get taken out at FID 500m hopefully won't be too far off the money. But i could be wrong! This and the EEEA underline this as an investment proposition for me and very happy to be holding a lot of shares. Today is a good day.
So no takeover -this may take time.
The relentless optimism of some holders here never ceases to amaze me. Personally I value BLVN's other assets at less than 0. Now they have cash they will quickly revert to type (high board pay, generate negative value from expo spend). I certainly don't want to hold BLVN whilst they burn their way through this cash pile. As ghhghh says a takeover at 60p-80p would have given better shareholder returns.
winnet Agree takeover unlikely cause we've just farmed out!!!! I'm very disappointed. 60p - 80p cash bid would have been massively preferable. imo shares will trade around 45 - 50p today. What does that tell you?
winnet Paul. Do you think we are still going to get taken over for 60p? Am I missing something? This deal values BLVN at c.69p? but a third of that conditional on FID. I expected a farm out to be significantly better valuation than takeover since can be conditional and not all cash upfront. So my estimated of 60p to 80p bid looks spot on?
Thanks for the views on Bonomo.... When is the drop dead date for the penalty payment....Surely Kev will get the penalty date re-negotiated as it's payable to SNH?I am hoping Bonomo is now tied up in a bigger deal.... Hopefully a full takeover!
Tiler if you can prove that or KH. Can in writing then that's fine but I think you will find its not in writing and was more a verbal agreement made . Ill try to find the presentation and repost it . Might be a none event anyway by that time with either takeover , sale or farm out before then but it did concern me and when I asked the question it was not answered as I would like to confirm it was definite .
"One point I notice you didn't comment on was how many supposed respected posters have said this will not reach fid" ---------------- My comment is that I disagree with them! Most of them have said they're looking for a quick buck openly - Its not something I want. I want the grapes to mature before we harvest so to speak... I'm not worried about market reaction to EA - frustrating yes but its important to realise the implications for this agreement - this a profound step towards monetisation and changes the way potential investors view BLVN. For me (IMO) it substantially de-risked my large investment in BLVN. My eyes are on the prize and that prize certainly isn't a 60p takeover... Fair point about under expecting and over delivering. Just wish Kevs PR team did that a few years ago. IE. 'best well in our history' and 'we've hot the jackpot' comments!
GR - Apologies for busting in on your thread - I totally agree with you as i think, as le com pointed out, that any valuation now, would be like pissing in the wind - so for that reason, we're not going to get the takeover ghhghh and log seem so desperate for. I do like the fact that as time goes on more and more folk are seeing the calls of 60p as complete and utter lunacy and will be rightfully called so in hind sight. I think 500m would be a fair price near FID. I would take that (not that they'll ask me).
ghgh I am actually not sure. I think for a takeover the price would have to be good given that most shareholders (I think even the institutions) will want to see some further value from what appears very prospective acreage in Bomono at least. I think we will end up with a minority interest in Etinde and hand over operator ship personally but we shall see. Interestingly this would mean paying a penalty under petrofac agreement. It will be interesting to see what is paid for 25% if that is what any agreement is limited to as the read across will provide a useful current value. Hard to say - I do think a buyer needs to be in country and part of what ever is going on with LNG. Perenco are obvious, Addax, but there are others potentially.
Forestleaf - I couldn't agree more - ever since the EEAA was signed, I have completely relaxed. Presidential decree and GSA to follow soon - it would be nice to see one or both before the end of June so we can keep the upwards momentum in SP, but even then I'm not too concerned because value will out eventually be it from a takeover of the company or sale of Etinde.
Must say that I am totally relaxed here - and have been since EEAA RNS, which underpinned the value. GSA will come, followed by CPR and farm-out / takeover. It interests me that Bomono farm-out has not yet occurred - given that it was (according to Ed Willett) "very advanced" on 31 March; it strikes me that it may become part of a "wider" deal. In the meantime, we are still c. 8% lower than when Ian Suttie came on board. Even Zak Mir blogged yesterday that this is heading for 50p short-term....!! Forestleaf
Must say that I am totally relaxed here - and have been since EEAA RNS, which underpinned the value. GSA will come, followed by CPR and farm-out / takeover. It interests me that Bomono farm-out has not yet occurred - given that it was (according to Ed Willett) "very advanced" on 31 March; it strikes me that it may become part of a "wider" deal. In the meantime, we are still c. 8% lower than when Ian Suttie came on board. Even Zak Mir blogged yesterday that this is heading for 50p short-term....!! Forestleaf
news looks imminent.. unless takeover rumours have leaked.
Agree Orient If ADVFN will not deal with abusers then its up to the thicker skinned , financially secure posters to stop the bully boys taking over threads. I will leave Chris talking to himself. Not sure he will want another round in the ring with me again. lol Very good progress in the SP. I see the BLVN takeover price being north of 70p.
James - never has the word derisory been used more appropriately. Le com - i'm lost. 85p? With all that information / guesswork you provide. It just doesn't add up. Cannot wait until the day (hopefully soon) when the share price is 60p and i ask Paul and Tim what their takeover price would be! Hopefully that day is closer than we think.
So Le_com, nail your colours to the mast and give us your best guess for takeover price if bid next three months. You have dismissed Tim and I with our 60p worst case - 80p top case so presumably you have a rough figure? Note: just seen your latest post and yes, current share price definately influences bid or farm out valuation. As I posted earlier, BLVN told me the low sp was adversely affecting Etinde farm out discusions.
Bones - You're asking me to prove there won't be a takeover? wtf? Surely the burden of proof should be on the getrichquick mob to prove there will be a takeover -they're shouting 'takeover, takeover we'll take 60p!'at every opportunity. I really hope there isn't a takeover if they steal my shares for 60p. I doubt there will be. I'm looking for a farmout to secure our financial position as i conceed without a change in circumstance we are looking ropey as a going concern further than Q1 2015..
Prove it ! The question of wether it is successful is down to how many are in at these levels , and wether it goes hostile etc but still does not mean it won't happen . Personally I believe this is being held back by someone for that very purpose and whilst the assets are worth far more the funding issue is what is weighing on the sp . Still I put it to anyone to show us a takeover of an oil and gas company that went with such a premium .
well then a takeover won't happen while we sit at 40p. Simple!
The way I look at the takeover speculation is to see any initial bid as just a test the water job. Once a proper bid has been tabled I suspect others may take a closer look and the final price paid could well be higher than the initial bid.
post of the day tester and exactly what i've been saying to Log and GhhGhh for months. They are of the view that the takeover will have no relationship to Nav and its all about premium to current price.
So lets see who is wearing the shorts when the tide goes out and place our bets. Assuming takeover pre end of August, what is the price! I'll kick off with 65p. (I would have said 60p but you guys relentless optimism have brainwashed me!)
I'm currently holding a few shares one of which is seriously under the hammer regarding hostile takeover approach . One thing to remember is that very few companies get big premiums over 100% even in the small caps . Given the 30-60day avg here is around 35-36p I think it quite valid to suggest a 70p bid might be received. To get a better price would require others countering such a bid . I know many have much higher averages than myself but a takeover whilst grossly undervaluing the asset is a real possibility with the share price so low and why I think Jpm might be working for someone thinking of bidding and holding this down . KH needs to get the best deal he can pretty quick to start lifting the sp to prevent such a cheap bid . Things are happening and lets hope they can get this much higher quickly . The response to eeaa was engineered as are the small rises in sp since , all points to games being played but are they playing into a bidders hands .
BowNo consolation for you I know but I have a very similar average. I've decided to get involved in another opportunity, which is moving faster than I anticipated and BLVN has moved towards FID somewhat slower than I anticipated and so I can see a will need to service a demand for cash in a months time and unless I can find a few 'wads' down the back of the sofa I'm going to have to sell some or most of my holding here - probably a day before a takeover RNS! KLESS
Would not be surprised to see the 'imminent' series of positive RNSs followed by announcement of $500m agreed takeover i.e. $1.542 / 92p per share. Was hoping for 120p but this week the 'master manipulators' have once again demonstrated that the price will not be determined by true valuation of assets but rather whatever a small group of people decide it will be. Coming weeks and months are going to be exciting. Good luck to all fellow investors.
Detailed legal wording regarding that posted hear would be interesting. No decree = No takeover as it stands.That's what market is telling me.
1Elliot One word TAKEOVER !!!!
James investment, lecom, anyone - are you able to get any sense of comfort from kh re funding now? What do people think? Placing, farm out, debt, takeover?
Just wonder if the sp is being controlled for a cheap takeover say 70p bid very soon . Have seen ii's buying stakes in companies recently with their aim to control the sp for such moves. Just a thought and might be way off but the lack of movement on such news looks suspicious , well that and lecons critics :)
Very Big takeover target now, lots of press coverage tomorrow will give this major boost
There ... just threw the plug at it. Strange to get negativity on the day BLVN took a massive stride to a good takeover price ;)All the best to the longsRegardsIHNC
Have added here.With this transformational news that we have all been waiting for the stock is massively undervalued.Time now for some re-evaluations.Farm out or takeover?
Something's happening that's for sure. The development plan was apparently approved well over a month ago. "Just agreeing the wording of the decree" was what KH said. A week of meetings contradicts that statement IMO. Someone or something has thrown a spanner in the works. Maybe good, maybe bad, who knows. Most likely farm out inclusion but could equally be a takeover.
JamesIt wouldn't apply to a share sale. SNH couldn't influence a takeover approach.Understand what he's saying but if New Age came in and said they wanted Bowleven's % of Etinde for £150m (just a number, not a reflection of asset value) and they wanted FLNG, and Perenco came in and wanted it for £200m and GDF LNG - if SNH have complete discretion over the partner and prefer New Age, then there's not much Bowleven can do about it. All depends on terms of the agreement and what constitutes a 'suitable plan for Etinde'. Lots of factors to take into account but just pondering such a predicament.
I'm only joking. I'm not selling a single share until we get the gas sales agreement at the very least. That IMO will see us become a much more attractive takeover proposition or robust investment for institutions.
Right I have had enough I have decided to launch a hostile takeover bid (james feel free to e mail KH and tell him it is nothing personal!). Although this news will lead to an inevitable spike in the sp and pull in all the so called major players I think going in pre EEAA and my extra purchase of 100 shares ahead of this message going public will stand me in good stead. Let the games begin - If successful I may even flip it or become an oil baron with offices around the world. I have yet to decide but if you support my bid we will have kitkats and crisps at the next AGM. SP going north post 14.43 33.25. End of day could be interesting, next week ballistic but I am ready to be rich although it will be a burden deciding which conglomerate to swallow up next. Might also change the name to Botiger or Tigleven. Glencore, ENI, New Age etc you can contact me through this forum.
Right I have had enough I have decided to launch a hostile takeover bid (james feel free to e mail KH and tell him it is nothing personal!). Although this news will lead to an inevitable spike in the sp and pull in all the so called major players I think going in pre EEAA and my extra purchase of 100 shares ahead of this message going public will stand me in good stead. Let the games begin - If successful I may even flip it or become an oil baron with offices around the world. I have yet to decide but if you support my bid we will have kitkats and crisps at the next AGM. SP going north post 14.43 33.25. End of day could be interesting, next week ballistic but I am ready to be rich although it will be a burden deciding which conglomerate to swallow up next. Might also change the name to Botiger or Tigleven. Glencore, ENI, New Age etc you can contact me through this forum.
Ghhghh so you don't think they should sit and wait ? That's a new one for a change . Perhaps you could tell us how the farm-in or takeover is going , is it at the lawyers again? If so I won't hold my breathe
BLVN's financial credibility must be a significant issue re GSA. Ferrostaal's bankers will not be keen to splash out c. $800m building gas plant but for BLVN to run out of cash and delay Etinde development. This is clearly a major risk if BLVN manage to go it alone, relying on Petrofac monies, and there are development cost over runs (as there usually are!). So BLVN will need to prove, pre GSA, that well funded for all contingencies. Most obvious solution is farm out or sale. So will GSA go hand in hand with farm out/takeover. And is EEAA on hold until Govt assured their favoured bidder/farm in partner in place.
commissario, it´s a takeover then..? :)
I have been at the Camel festival and got back today. Hoping that KH has got the EEAA and a major farm out or a takeover lined up.
Well even if Le Com is a con, Big Zubb is still holding for the takeover and now has 3.24 million shares.
Bought more GBO. 10K at 43.061p. Possible takeover target.
Breaking News Aviva planning 80p take over.Quindell PLC have recently more than halved there market capitalisation due to Gotham city research.However this has being ruthlessly responded too. But share price continues to fall because of shorters and manipulation.QPP are currently securing many contracts.Many directors are also buying.This is because there are discussions over the owner of the group with an impending take over from Aviva at suspected 80p a share.This move has not yet being confirmed, but is expected to soon.The takeover was going to happen before the crash, at £1, but Aviva have jumped at the opportunity to buy slightly cheaper.Rob Terry refuses to buy any cheaper. http://uk.advfn.com/exchanges/LSE/quindell-QPP/takeover
a full takeover of Bowleven is what we need, if the pi is to see any of the cash, would also be the simplest way of doing it. le-comm one of your admirers on this bb once said, with your info if you so choose, you can move the SP. Well so far nil points.......... the single malt still has the cork in the bottle. WJ.
But if true (and I tend to believe Le Com's sources) and for a full takeover. Why no related sp action?
We know that BLVN are close to signing up Bomono farm out and that this seems likely to quickly follow EEAA. And Bomono by itself a bit of an oddity thanks to the problems of disposing of the gas. IMO the principle risk is not so n=much will they find condensate but what is the oil/gas split. It makes sense for whoever farms into Bomono to also farm into Etinde or simply buy BLVN for the lot. Especially if the farm in partner a major company. So any takeover/Etinde farm out could be sooner rather than later. I know some here are more sanguine than me re Hart's 'short term funding options'. Hart has said will try to sell (or farm out) pre FID so logically he will try to conclude deal asap post EEAA/GSA to avoid going to the wire. Will want at least three months wobble room so must be targeting farm out or takeover by next month?
Are we talking a full blown takeover?
Funny way of sorting. Who creates those/how does a thread like that get created/how does one create such a thread? HTTP://uk.advfn.com/exchanges/LSE/bowleven-BLVN/takeover See the chart for T/O posts, look at the spike and then have a look at the sp graph for what happens just after. winnet is right...
Splitbay - I think Bowleven are slightly more protected because we have Petrofac, without them, we'd be a very cheap, sitting duck. We also have a world class asset, a method of monitising the liquids and potential connectivity to an LNG. The representative from Investec also highlighted LNG exposure as a priority for majors when looking for a takeover. I'm probably getting ahead of myself but I still believe there will have been enquiries from third parties and it wouldn't surprise me if we receive a disclosed bid after EEAA and GSA. I'm holding. Guernsey.
so when the share price is 60p plus - you will admit that your 60p takeover price is wholly incorrect.
EEAA puts the company back in play. GSA / FID / Takeover will be the real sp driver here.
ghhghh has been vindicated in his belief that buyers will only pay a premium to share price rather than asset value. HOIL is a case in point. His 60 pence takeover thoughts are a reflection of reality regardless of what anybody thinks (and his ridiculing by Le Conn's crew). For HOIL TB sold the lot for 320 pence only a 25% premium to the previous close.
Lets all have a love in shall we, w@nky w@nky 60,70,90p Howza aboot 0p!!!!!!! Hiya Cynth, in need of a service are we? Start with a fanny pad refurbish, a Brazilian wouldn't go amiss ladyboyo, some fairy lights will help le_cocker go snotty nose down on the landing strip! WTF is all this bid takeover price wishful thinking, Jeez wept on a X ButFM all this cheese waffle for the Messiah le_nobber whose string vest is more thread bare with each passing day! The Enemy Within! For the astute, ask yourself how many aliases Le_con has?????????????
Log, I think a true discussion of bid price would be the settled SP after EEAA. So if it is 50p, then using your multiple £1. if it is 60p then £1.20 and so on. It is crazy to look at takeover price pre EEAA. As basically if we dont get EEAA we will be lucky to achieve 10p. So I think a realistic discussion of Bid offers can only be made when we get EEAA and it has settled with that underpin in place. GR
A discussion on here about the price of farm in / takeover, usually heralds a price fall. As soon as i see that conversation i should hedge a little.....
ghgh Bomono is a bit of a problem to a takeover as I think it gives a good defence to the company unless the buyer pays better value. Will be interesting to see. Suspect EEAA is going to run into may now unfortunately but on th eplus side the GSA's must be nearly done as must the Bomono farm out.
Gloucester Exactly my thoughts to the letter. I do think that it would be an asset sale. Bomono is unlikely to be drilled pre November due to rainy season so it would be difficult for an outright takeover pre drill as bowleven would argue that any acquirer is getting huge upside for free. Bait I agree a big deal will likely be done. Happy easter
Today reminds me of what they call in the industry "the caracal bounce" i.e. when a takeover with major read-across by a major leads to what for Bow is an amazing trading day - no volume & down 0.2p
Weren't Glencore in partnership with Caracal for 3 years before takeover? Isn't this the current trend, to be a partner first and have a good understanding of the buyout? Partnership first then takeover later on?
Le Comm thanks for your thoughts, i do not believe that blvn will be subject to a hostile takeover on the cheap anyway as i feel that any t/o would need many of the incumbents and their connections within the organisation on side going forward. Any t/o will be at the true market price in the eyes of the BOD imho. ATB
Sbdy posted on lse. Is it possible that a takeover is on the way and the largest holders sell at a certain price but the buyer agrees to pay them a huge premium off the book? Doesn't sound feasible and I think all financial year end related. ..lets presume jpm and blackrock sold their shares. why would they do it now if eeaa, gsa etc. is "imminent"? could it be they held them for a third party and handed them over yesterday, hence no price movement?
My theory on volume. A takeover at 1.50 £ to put leoneobull out of misery on stock market
split, Dragon had to go public due to (edit)TakeOver Panel rules, if a rumour moves the sp by 10% then a party has to declare an interest. There was never any discourse on price at the time, only assumptions.
Tempted to put a picture of a rocket up!! lol :) Hope we don't get a real cheap ball takeover..
Thanks guys, Windjammer - i first thought of 'it' at 80p. My yacht is already gone, i'm now just trying to save my pet hamster who is tied to the mast if you know what i mean! false fear - look at the volume today. compare ity historically. The only days to match it were the dragon takeover rumor and IE 5 results. Forgive me for thinking this is 'normal' and holding out hope that we'll get someone fessing up via RNS!!!! I'm off for a walk around the streets and to grab a costa now as I can feel my heart popping out of my chest and this is not good for my health. (GP says i need to relax - seriously). Thanks to all. Hope the hamster is still above water when i get back...
winnet, everything is possible. BUT: if it really would be a takeover, that would push the price extremely as per my opinion. so we definitely would not be in the 29/30 area...
lets add total volume this week, its what 70 million? ish. No moment in the price. Something very very fishy is going on. IMO its a hostile T/O with one of our major shareholders getting out. Any tax scenario would be subject to the 30 day rule thus if they believed EEEA was 'imminent' *puts pound on swear tin on desk* then they'd be shafted. No. Its a takeover IMO. Lets wait and see what RNS's we get...
Results overall positive FID delay was clearly on the cards and going concern in the price. The critical issue is EEAA since this opens door to takeover as last resort and should show decent profit at this price. Bottom line is how good is Etinde? Bears may claim Petrofac being paid for services so not a black and white endorsement if they say view FID as unlikely. But GSA is powerful third party proof that this is a very major project and BLVN's £100m cap crazy in the big picture.
daniel I think very positive and key highlights for me are: 1. Substantial progress on Bomono which will be 2 substantial drills with high chanc of success around the time of year FID anticipated - if we get there without a takeover. 2. EEAA still on track - allays peoples fears 3. GSA also expected in first half. So by June (with exception of Fertiliser banking sign off) we should have FID in the bag albeit we may have to wait for the cash but we have a number of financing options post EEAA anyway. Overall v happy. Cole - good to see you posting again!
Cheers for your thoughts WJ, don't expect there will be a takeover offer but will expect a RNS with clarity first thing on Monday morning as im sure the IR woman is getting alot of abuse from disgruntled holders atm
W1N Regarding BZM I suggest sell at the spike , it wouldn't hold even if takeover happen, which is a pure speculations I will come down, IMHO
why aren't all their friends and relatives piling in if takeover price 60p - 150p? ------------- Because they're anxious EEEA will not be approved or take so long to approve that BLVN will no longer be a going concern. That is why the share price is on it knees. Once EEEA granted then its a whole different ball game. What i'm anxious of is news of EEEA delay in interim's which the market will not like. I don't intend to sell down my position, but that is the risk short term...
Leoneo Id be careful - I may de risk a little. If they cant find development partners then there will need to be an equity raise. they are already 4 months behind and in order to engage industry partnerson risk reward there will always need to be up front payments. XEL looks like a company in slight distress to me at moment and potentially a takeover a potential option?
The sp is just so depleted, hoping the eeaa grant really does give it a decent prolonged boost and a steady climb back up to reasonable levels and not a quick pump to the high 40's followed by a sell off and a wait for the next piece of news. The wait has been long so let’s also hope the delivery of this transformational news is done correctly and as bigger fuss as possible is made through the RNS/press and any official Cameroon ceremonies to ensure we are but back in the limelight and most certainly open for business. Been holding for over a year with an average now around 62p so I am itching for a sign of takeover/sale news which is what in my opinion would see us get above £1/share. Fingers crossed our time is near, good luck all!

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