Bowleven Share Discussion Threads

[tli8jaguar] 20/10/2016 16:09

My email to BLVN

Hi, in the preliminary results RNS:
This expenditure relates primarily to drilling and testing operations on the Bomono Permit. As previously highlighted, operations were impacted by contractor non-performance, both prior to and during the drilling programme. Consequently we are continuing to pursue service providers for the recovery of a proportion of additional expenditure incurred

What is the additional expenditure? And what is the service provider's response?

There was nothing mentioned about the term for SNH taking up the option to back in for 20%, do they have to pay anything towards the exploration cost for Etinde?

Regards


BLVN IR reply:-

Good afternoon,

As part of the farm-out transaction completed in 2015 and as disclosed in our 2015 annual report, SNH exercised their back-in right in July 2014 to take a 20% participating interest in development activity on Etinde.

With regards to operational performance on Bomono, as previously advised, remedial action is being progressed with contractors in relation to non-performance during the preparation and operational phases of the drilling/testing programme. Given the ongoing nature however it is not appropriate to provide any further detail.

The Company releases its full financial results for the year ending 30 June 2016 on the 8 November.

Regards
Bowleven IR

[tli8jaguar] 19/10/2016 20:55

Institutional shareholdersTop holdersMovers
0.00%
Per cent of shares held by top holders
Holder Shares % Held
Henderson Global Investors Ltd.
AS OF 30 JUN 2016
1.90m 0.61%
Sector Investment Managers Ltd.
AS OF 31 AUG 2015
1.50m 0.48%
Meeschaert Asset Management SA
AS OF 29 JAN 2016
350.00k 0.11%
Cavendish Asset Management Ltd.
AS OF 30 SEP 2016
0.00 0.00%
Guardians of New Zealand Superannuation
AS OF 30 JUN 2015
0.00 0.00%

Above is the institution shareholders of Xcite Energy(taken from the FT), see they didn't bother to sack Rupert Cole, they just simply sold everything they owned.

[corrientes] 19/10/2016 16:55

Because its BLVN where anything is possible, like making cash disappear as if by magic.

[corrientes] 19/10/2016 15:27

Do political donations for AIM companies need to be shown in annual accounts ?

[big_brown_bear] 19/10/2016 14:58

Just taken major short position here, there may be trouble ahead.

[w1ndjammer] 19/10/2016 14:45

this would be an educational event for our Kev

its all starting to happen for these guys, ho and for windjammer

just watch the video

[mrs whitebait] 19/10/2016 14:43

Quite astonishing news. They must be eyeing big tax breaks / o&g opportunities on a Scottish exit from U.K. with big labour win in snap general election.

[slipanchor3] 19/10/2016 14:36

Solong as it is not to the other looney party the SNP, the quickest way to the soup kitchens for the Scotish Nation is to follow that lot.
AIMHO

[ifthecapfits] 19/10/2016 14:31

Board should be immediately sacked if true.

[fxl5] 19/10/2016 14:25

Rumour in the city this afternoon that BLVN may have been making"significant anonymous donations" to the Labour Party.If true this beggars belief!!

[stansmith3] 19/10/2016 11:16

lets not forget that they just award themselves a decent % of our company every yearthis is 'ok' when increasing value for everyone

[cyan] 19/10/2016 11:10

I have some sympathies with your view Stan. I have quite a few here and the stagnation is becoming a concern.
BLVN should look to RKH for a sustainable strategy when faced with others dragging their feet.
RKH bought some modest producing assets to bring in income to cover G & A.
How many years will we have to wait ? KH drawing £500,000 sterling is not acceptable anymore.

[stansmith3] 19/10/2016 10:19

ok lets go back to speculating wildly and moaningbut ditch the talk of institutional apathy as its pretty evident who cant be bothered to do anything

[fireplace22] 19/10/2016 10:08

With our luck they'll give us a few quid for Etinde and leave the cash in KH's capable hands.

[gark] 19/10/2016 10:06

Let's hope so! Keep fingers crossed.

[specul82] 19/10/2016 10:02

Lukoil on acquisition trail Considering takeover of bowleven

[stansmith3] 19/10/2016 08:57

shareholders who read this board have large enough holdings to set the wheels in motion to remove the board..i cant see why ii's would keep them if it came to itunderperformance whilst they award themselves a percentage of the company each year..lets do something about it?

[slipanchor3] 19/10/2016 08:49

jag

Would have to look back through Le Com's posts but my interpretation at the time was that C.O.were not interested in taking over the company. That doesn't exclude them from using their stake to swing things in favour of a third party for whatever reason.
£9.7m excluding costs has been spent so far and I can't see it being done without a purpose in mind.
K.H.is certainly not ignoring it with his ill-timed panic announcement of a share buyback.

[billytkid2] 19/10/2016 08:38

The current share price would suggest Hart doesn't have the confidence of anybody whether it be retail or II's.

[fluffy_dog] 19/10/2016 08:32

CO are just speculators I believe.

[tli8jaguar] 18/10/2016 23:26

Slip, le_com was adamant that CO is acting on behalf of 3rd party who is not interested in takeover. I do have respect for the fellow.

[tli8jaguar] 18/10/2016 18:35

Slip, I just compared the composure and body language of KH in the last two videos. I wouldn't say there's any difference. To me he looks quite calm and collective. I do not for one minute think he is worry about his job at all. Why should he? He's got the II's support, with 50% of shares, they must believe in Bowleven and in turn, they believe in Kevin Hart. I think he is frustrated with the slow progress though. IMO