Bowleven Share Discussion Threads

[watfordhornet] 28/12/2016 14:05

Merger! Don't make me laugh - had plenty of time for that. Who will they merge with? Why merge now POO has started to rise. Been plenty of opportunity before now.A merger would only jeopardise KH position further

[fluffy_dog] 28/12/2016 13:49

I think Ed has moved on knowing that he has little future especially if bow are looking at a merger

[slipanchor3] 28/12/2016 12:21

No mention of a replacement for ED.Willett seems to indicate there will be no acquisitions made by BLVN, so cash remains in the bank at least for the time being.

[warbaby43] 28/12/2016 12:00

Willett gets canned, Hart gets blamed and NEDs get away Scot free (and I wonder where that phrase came from.)

NEDs are supposed to exercise stewardship on behalf of shareholders yet Tracy, Sullivan and Martin allowed management to burn through $96.9m between March 2015 and October 2016 with very little more than two sub 2,000m onshore wells to show for that $96.9m.

While voting all my shares without hesitation against the re-election of Hart and Clarkson my very large regret was that I couldn't vote against the whole darned lot of them.

Good luck to Crown Ocean in any further attempts they may make to remove the NEDs and force a return of at least $50m cash to shareholders and I just hope they get a move on before that too gets blown.

[tli8jaguar] 28/12/2016 11:36

Ed Willett,
Head of Exploration, Bangladesh and Nepal, Cairn Energy, 1997-2006, 9 years.
Exploration Director, Bowleven, Feb 2007 to present, 9 years 11 months.
Must have itchy feet every 9 years or so.

[watfordhornet] 28/12/2016 10:49

Slip - I agree with that.I do not think CO have anything to do with it though. Think KH may be thinking he is under pressure and needs to do things to please shareholders.Am guessing Ed walked away with a years salary so doubt he will need to sign on anytime soon

[slipanchor3] 28/12/2016 10:16

Jonh Brown carried the can for the financial fiasco in 2013 Ed Willett is now carrying the can for the Bomono fiasco in 2016, KH is still sitting pretty on his £600k PA.

[donpatrol] 28/12/2016 08:59

Oh right, nothing to do with CO. Nothing to do with the millions wasted on poorly run exploration. He just had something better to do than collect a handsome above industry average remuneration.
No its now down to CO, they are calling the shots. Expect more to follow

[watfordhornet] 28/12/2016 08:22

"Head to roll". Doubt it - probably had enough himself and has something else to do.Bowleven don't get rid of people

[donpatrol] 28/12/2016 07:40

First head to roll. No harm either, as Exploration director he couldn`t find a can of oil in Halfords.
Nice to see no golden handshake for this fellow too. Hopefully more to follow.

[gark] 27/12/2016 08:15

Anyone got access to Upstream? This was the headline from 22/12: Cameroon to set out on licensing journeyCameroon is gearing up for a comprehensive licensing exercise, spanning onshore, offshore and available transition zone acreage, to be launched as early as next year, according to senior officials at state oil company SNH.

[alamaison5] 25/12/2016 12:50

One which about to produce is LEK.

[dynamic2005] 23/12/2016 19:01

Wishing all fellow shareholders Merry Xmas and hope Bowleven exceeds our expectations and delivers significant value in 2017."Dear 'whatever doesn't kill me,' I'm enough now. Thanks!" :)

[tli8jaguar] 23/12/2016 10:36

PROGRESS

Cameroon’s state oil and gas producer Societe des Hydrocarbures du Cameroon has said that works to convert Golar LNG’s vessel Hilli to West Africa’s first floating liquefaction and export plant offshore Kribi, as part of a project led by French firm Perenco, “have attained an execution rate of 91.69%” and on course to enter service in 2017.

Golar said in August that conversion of FLNG Hilli remains on track for delivery next year, and that it may be run at a higher capacity than first forecast given the “suspension of Engie's proposed land-based LNG project” there.

SNH's statement from earlier this month said that its transfers to the state treasury in 2016 had been higher than forecast, despite a year of low oil prices, and equity gas production from January to October 2016 was 290.25mn m³, 9% less than a year ago; most of this (201.25 mn m³ ) was sold to the main power plant at Kribi.

[hugepants] 22/12/2016 20:51

warbaby4322 Dec '16 - 14:56 - 13080 of 13082 1 0
If Crown were get one or more of the other larger holders alongside them, would they be able to force an EGM to block an acquisition?

Given this BoDs ability to burn their way through $96.9m between March 2015 and October 2016 with precious little more than Moambe and Zingana to show for it, this is one shareholder with zero confidence in their ability to do other than blow the remaining $90m, or whatever the pile is now down to.

Absolutely. I actually wouldn't have minded if they had blown this $96M on a couple of high risk/high reward exploration wells. But they've just emptied most of it into the black hole that is Bomono. Truly awful company this. The latest RNS on the directors' "long term incentive plan" was comedy gold.

[gark] 22/12/2016 16:33

Anyone noticed the head and shoulders formation? Looks like we are stable at 24 to launch above 30.

[gark] 22/12/2016 15:02

Here, here! I hope that Crown pushes the whole lot out, returns cash and sells the remainder to New Age.

[gunsofmarscapone] 21/12/2016 23:43

hxxp://www.animalaid.org.uk/h/n/CAMPAIGNS/horse/ALL/1334

For info

[donpatrol] 21/12/2016 21:15

Well it looks like CO are putting a stopper to the Pigs with their snouts in the trough. That can only be seen as good news

[hugepants] 21/12/2016 20:33

There are no words to describe this.