Bowleven Share Discussion Threads

[tli8jaguar] 11/11/2016 20:17

Unless they are in another closed period.

[bluebell1] 11/11/2016 16:03

No they won't.Sp is falling again. So much for this famous share buyback scheme.

[winnet] 11/11/2016 13:55

The principle reason was the high cost of development and the falling oil price environment. There is a billion barrel resource at Sapele but in this environment, it wasn't cost effect. As regards geology, read the Sproule report on the subject.

BLVN ended up relinquishing the license.

I assume in relinquishing they have first refusal on taking it up again and as a result of owning the propriety data.

[tli8jaguar] 10/11/2016 08:05

(Business in Cameroon) - Kevin Hart, CEO of Bowleven, a British oil and gas company which, with its partners Lukoil, SNH and New Age operates the Etindé permit covering 2,316 km2 on Cameroonian offshore, claims having made “constant progress” toward the “objective of converting the reserve resources in Cameroon, despite the difficult macroeconomic environment”. This declaration is in the activity report as at end June2016 of this oil and gas firm, made public on 8 November.

Bowleven’s CEO appears particularly optimistic on the exploration activities on the Etindé permit as, he reveals, his partners and himself are targeting additional volumes which could reach 2 billion cubic feet of gas on this permit.

It is the reason for which, as Kevin Hart says, Bowleven “wants to drill two wells as soon as possible”, as part of the continuation of this exploration project. These “appraisal wells”, initially announced for 2016, but finally postponed to 2017, target “the important upward potential identified in the intra Isongo interval reservoir”, highlighted Bowleven in its activity report as at 30 June 2015.


Brice R. Mbodiam


Lire aussi

I think they meant two trillion.

[ihavenoclue] 09/11/2016 16:52

Gark? They said they will RNS by 7:30 the next day

[ihavenoclue] 09/11/2016 16:51

Buyback restarted? Confirmation by 7:30am tomorrow

[fireplace22] 09/11/2016 13:04

Shouldn't BLVN be buying now are are they waiting for 27p again?

[gark] 09/11/2016 13:01

No RNS, Crown buying again?

[tli8jaguar] 08/11/2016 18:51

see VOG with 25 years drill as you go licence, same as the one BLVN turned down for Bomono.

[deanroberthunt] 08/11/2016 18:22

@grim post 31995

eat haggis and watch their rugby team lose....whilst dreaming about independence but too scared to commit

[deanroberthunt] 08/11/2016 18:21

see VOG for a proper company in Cameroon, one that has revenue, assets, cashflow positive with sterling growth potential...this couldn't hold a candle.

[deanroberthunt] 08/11/2016 18:20

see VOG for a proper company in Cameroon, one that has revenue, assets, cashflow positive with sterling growth potential...this couldn't hold a candle.

[frazboy] 08/11/2016 16:29

New Age is trying to avoid the Capex commitment too I guess, although they're relatively flush following their recent corporate money raise. I don't think the requirement to pay Blvn $25m on getting FID approval (not to mention their very significant share of investment Capex - 30% for New Age I think, so perhaps $200m?) is acting as a great incentive to rush given current commodity prices.

[fluffy_dog] 08/11/2016 16:24

I am not sure what the impasse is. Understand cam govt officials quite unable to grasp the scale of the project and are totally out of their depth and no doubt junior mom officials looking for their brown envelope before they "expedite matters"

[frazboy] 08/11/2016 16:06

Operator has a meeting with the government to try to resolve the impasse in the next couple or weeks (the timing was not particularly specific). KH stated that they would support any development strategy as they all have positive NPV to Blvn

[fluffy_dog] 08/11/2016 16:00

re conference call - any mention on timescale for Etinde?

[winnet] 08/11/2016 15:39

Why should Kevin Hart resign? When will people wake up, this is not about individuals is about process. Oil exploration especially junior investment in this market is not easy.

Hart personally is not to blame for the delays. Folk have to accept we are not operator and Kevin has no direct control over decision being made at Luk or New Age.

He also has little control over when the EA will come. However, according to the RNS its going to come this year. Which is only a few weeks to wait before we can start development on Bomono.

As Macy said, bottom draw patience is required.

[frazboy] 08/11/2016 14:55

I was a holder of these until today but sold on the update (or lack of). I agree with don on the cash burn and I'm not referring to just the G&A - I spotted that they had spent $13m in H2 on Capex - on what exactly? They finished the testing of the two onshore wells in early Jan I think. From the level of detail in the accounts they spent $48m (I note that this presumably includes other Capex but by their own admission there was nothing particularly significant that required stating so we have to assume that was by far the biggest factor) total on those two onshore wells... They were drilled to less than 2000m MD - that is a ridiculous sum of money to spend for such shallow wells.

The final nail in the coffin was failure to get that conference call up 1pm - I do not like the analysts having info that I do not have... I was very keen to know the situation with the buyback. I've assumed from the pattern of tradin that it's back up and running but who knows!

Best of luck to all holders, there's value there but getting it out is the problem

Edit: you need to listen for about half an hour for the conference to start