Bowleven Share Discussion Threads

[petebreeze37] 16/4/2024 09:13

Anyone,what's the next level after a farthing, It looks like the local government doesnt ever want to play with this tiddler company.

[manual dexterity] 12/4/2024 14:39

Brent is up 2.29%. I suspect if things get worse we will be looking at $100 + next week. US crude already up 2.72%. Pete Major shareholder holds over 58% of the equity so there is a bit of a spread.

FID will transform BLVN.

[petebreeze37] 12/4/2024 13:52

The spread on this is off putting.

[manual dexterity] 12/4/2024 13:24

Looking at the world view it is looking increasing dangerous and I expect oil to break $100 in the upcoming weeks if the climate changes dramatically.

[manual dexterity] 11/4/2024 09:15

UPL is Upland Resources. It was sitting on a similar share price we have to BLVN now around 0.15p and now comfortably sits above 4p.

[ham74] 11/4/2024 09:05

Forgive my ignorance, what is UPL?

[manual dexterity] 11/4/2024 08:59

Fid comes through then Etinde could be the 3rd operational gas field after after Kribi and Logbaba in Cameroon.

If that is the case it could follow UPL.

[dealy] 04/4/2024 09:34

Softbank own 90% of ARM (120 billion market cap)

[manual dexterity] 04/4/2024 08:43

58% held now by one entity.

[dealy] 03/4/2024 13:23

any number of players could have injected equity over the last 2 years but nobody was interested. Crown have stepped up to the plate and they did it very fairly via an open offer, so all shareholders had the opportunity to step in under the same terms

[iturama1] 03/4/2024 10:58

This came about by paying too much cash back to shareholders, no doubt at the behest of the major shareholder - COC. Now the cash that COC received can be used to take over the company. Coincidence?

[riskyinvestor] 03/4/2024 09:48

The AIM Market is a Con Market

After years of investing on it have finally realised it

Companies just like doing Placing and Placing and hardly ever create shareholder value.

[ham74] 02/4/2024 13:52

Did anyone make the AGM? I missed it this time.

Resolutions passed at AGM:

Interestingly, about 19 million votes were made against all resolutions. That is about 6% of the shares. I wonder who that might have been? It looks close to the percentage held by Sand Grove before they started selling, which may be relevant for the March 12 cut off date determining voting rights.

[dealy] 27/3/2024 17:39

I would say it was positive to hear that all the partners want to move forward

[ham74] 27/3/2024 14:57

Any surprises in interim results?

[manual dexterity] 26/3/2024 11:52

Whatever the case o think Blvn will be relatively tightly held. The option ran out today.

[ham74] 26/3/2024 11:13

How do you work out that?

[dealy] 25/3/2024 18:18

then it will be based on percentage of votes cast

[ham74] 25/3/2024 16:59

Dealy, that theory may be true for big institutions or big stocks, but does not seem plausible for BowLeven. How do you explain the near zero level of votes at the 2023 AGM?

[dealy] 25/3/2024 16:40

most shares are in nominee accounts and the institutions like ISS usually vote along with what the board recommends

[warbaby43] 25/3/2024 13:41

In the absence of owt else appearing in the RNS, I'm assuming a simple majority of the votes cast.

[ham74] 25/3/2024 08:12

Who has voted? Who wants to but cannot work out how to? Who cannot be bothered?

I wonder if anyone has subscribed for the open offer, but not voted? That would be putting the horse before the cart, because the AGM votes are needed to go ahead with the open offer.

[ham74] 25/3/2024 07:56

Warbaby - what threshold is needed for these resolutions to pass? Is it a simple 50% , or a higher percentage? And is it all shareholders, or only those present at the AGM?

We only have 30% in the bag from Crown Ocean. Presuming the Dutch vote only gets us to 34%.

Sand Grove is interesting, I am not sure what their percentage was on the relevant date, and would they bother voting if they are reducing their holdings?

Private investors are definitely the wild card, especially as brokers differ on how they flag up the corporate actions.

[warbaby43] 23/3/2024 11:33

For those who haven't had chance to trawl the "Open Offer" section on the Investor Relations section of the BLVN site:


Nice work etc:



For 12 days per annum plus another £1,500 per day for owt on top of that, this from the Arnoff appointment letter:

"You shall be paid a fee of £100,000 per annum for acting as a Non-Executive Director and Chairman ofthe Board. These fees shall be paid in equal instalments monthly in arrears after deduction of any taxes and other amounts that are required by law.
4.2. In addition to the annual fee referred to in paragraph 4.1 above:
a) a one-off bonus payment of £100,000 shall be paid to you on the Company securing a Final Investment Decision in respect of its Etinde project; and

b) a one-off bonus payment of £100,000 shall be paid to you on a sale of the Company, provided that: (i) the price per share payable in respect of such sale is equal to or exceeds 19 pence; and
(ii) the sale price gives an implied valuation of US$50m for the Company’s Etinde project (and existing cash of US$10m plus Lukoil Final Investment Decision payment of US$25m)"

With regard to the 19p per share, as the contract is deemed to have commenced on 2nd November 2023 (see 1.1) that figure is plainly based on the old 335m shares in issue and not the new 1.897bn figure.

For comparison, looking back to 2019, Arnoff's predecessor, McDonald, was paid $58,000 ie c £46,000.

As for everyone's favourite CEO:

[dealy] 22/3/2024 16:21

Pretty sure that Kundar (newly announced holder with over 5%) will maintain his stake. A few die hards are also likely to take up their rights. So getting above 80% looks impossible