Bowleven Share Discussion Threads

[ifthecapfits] 14/12/2016 13:50

Voluntary pay cuts - is this new?

[fluffy_dog] 14/12/2016 13:41

So they are looking in North Africa and a merger...?

Focused on sub-Saharan Africa but also
looking further afield
• Seeking to acquire long term stable
production base to cover G&A ideally via
merger with upside potential

[the argus] 14/12/2016 13:10

Hi Winnet,

I've no idea if there are phone calls either or their frequency if they do occur but if McQ were were working off a playbook, would we really see such variation on the day-to day buying? I've logged the numbers from each RNS and I can't get my head round it, as I believe McQ can buy up to 105% of the previous 5 days average price, there are days when it was possible to buy but they didn't, hence my conclusion that the company are pulling the strings, as inferred by the quote from the RNS.

Here's an example of what I mean but there are plenty of others:

Date Min Max Volume
++++++ ++++++ ++++++ +++++++++
30-Nov 24.59 25.02 118,780
01-Dec 24.5 25.14 1,157,310

I guess we'll never know the truth, so not really worth spending any time over, we are all free to form our own opinions. :)

A.

[winnet] 14/12/2016 11:00

"Bowleven has entered into an agreement with its broker Macquarie Capital (Europe) Limited to carry out purchases of shares under the Programme on its behalf. Acting within its market purchase authority, the Company will retain discretion in respect of the volume, timing and price of shares to be repurchased."

Angus - Note the term "on its behalf". We will never know if there are daily, monthly or less frequent phone calls. Normally, [to the best of my albeit limited knowledge] there is a buyback contract, which is approved by shareholders (at the AGM - see our special resolutions relating to this). There is then a terms document entered into with the broker. Theirstrategy will be based on this document. As to how often this document is amended, i couldn't say, but I would say, i very much doubt if its a daily occurrence. KH has a company to run, he will not be focusing on the short term share price - we've all seen evidence of this fact!

[mr genel energy] 14/12/2016 09:58

am doing a Petition on AIM companies need investigating.please sign and pass on.thanks.

[the argus] 14/12/2016 09:37

Winnet,

That may be how it NORMALLY done but BLVN stated in the RNS:

"Bowleven has entered into an agreement with its broker Macquarie Capital (Europe) Limited to carry out purchases of shares under the Programme on its behalf. Acting within its market purchase authority, the Company will retain discretion in respect of the volume, timing and price of shares to be repurchased."

On the basis of the above, I'm more aligned with gark's suggestion.

[gark] 14/12/2016 08:37

No volume thus far so doubt it.

[ifthecapfits] 14/12/2016 08:33

Have you doubled down yet?

[winnet] 13/12/2016 19:05

i disagree, i don't believe this for one moment.

No, there will be a commissioning document, and the rest will be Macquarrie subject to certain terms, IMO.

[gark] 13/12/2016 18:51

They have daily calls with their broker where they will outline plan for the day. No afternoon trades so assume we get news in the morning.

[winnet] 13/12/2016 18:32

gark - i think strategically yes, but as to how many shares and what price on a daily basis, i am almost certain it has nothing to do with the BOD. The idea that Kevin is sat is on his L2 all day hoping to beat the mid price, is quite laughable.

I must say, i am speculating and the above is based on my personal knowledge of how these things tend to work.

[watfordhornet] 13/12/2016 17:20

If we do not get an RNS in the morning it is going to be a very dull AGM.Actually if Kevin goes ill I can step in and present - heard it all before at the last 3 investor sessions so no notes needed

[gark] 13/12/2016 16:10

Board will interact with Macquarie

[winnet] 13/12/2016 15:30

nope, the amount has varied. They have purchased more before.

Also the BOD are not in charge of this, is maquarrie i think...

[ihavenoclue] 13/12/2016 11:17

Total number of Shares
purchased: 577,036
Highest price paid per
Share: 26.63p
Lowest price paid per Share: 26.50p

=======================

Amount of buyback shooting up the closer we get to the AGM. Coincidence ? ;)

[alamaison] 12/12/2016 22:06

Still: hxxps://www.barchart.com/stocks/quotes/BLVN.LS/opinion

[wookie77] 12/12/2016 19:19

That chart is giving me itching fingers, very tempted to double down!!!

[donpatrol] 12/12/2016 13:45

That sounds near enough. Sure at this rate it`ll only take 3 years to complete the buyback

[gark] 12/12/2016 12:02

Totally agree. How they are voted out this week.

[pjj71] 12/12/2016 11:57

Unbelievable.. must be the only O&G stock that tanks on a rising oil price... time for a takeover and an end to the Edinburgh gravy train...