Bowleven Share Discussion Threads

[slipanchor3] 02/1/2017 22:29

le Com

Are you of the same opinion re COC objectives post AGM?.

All the best for 2017, its got to be better than 2016.

[le_commissaire] 02/1/2017 19:37

Happy New Year All :)

Dan, glad to see you have shaken off the threats from Bill & Ben the flowerpot men.
Pair of cheap wazzacks and one will be having a bad 2017 that he deserves from what i have heard from very close sources.

I always say, what goes around comes around and he is one guy i would like to see behind bars.

Thanks for the Genel stuff. I had added them to the kids BLVN and RKH for a 2017 trio.
If the Syrian truce maintains itself, the Turks will have to soften their approach with the Kurds if Erdogan wants to keep stability. With more trading freedom, coupled with the revised trade agreement with Bagdad and the discussions on an Independent Kurdistan early last December, one has to add some middle eastern battered oils into the PF surely.

As for BLVN, Aliko Dangote who is the most respected and richest individual in Africa is investing in Cameroon heavily in 2017 and is on a commodities hunt atm. It was a subsidiary of his that we sold the copper to last year. One of his sub asian companies builds offshore platforms and he is heavily invested in the Doula region and is well known to side with Blackrock.

RKH is a political victim but with Mauricio Macri's New Years statement mentioning a "new kind of relationship" with the UK" and talking about boosting the economy "with the help of the British", you can bet your sweet apples that with the oil price now in ascendance, that RKH will not stay in the low 20's when the oil speculators start their 2017 bucket trading. Imagine having the Argentinian Coast as the hub.

Well that's my very simple, personal opinion based and politically relevant reason, why those 3 are my 2017 trio of what i think are all a potential 2017 Phoenix.

Some say the PoO rise is a false dawn bounce but the fact that Q1 is the traditional heavy usage quarter, i disagree personally. May lose some steam but will still trundle along all the same.

[tli8jaguar] 02/1/2017 17:14

Fireplace, I can't find any mention of the drills being delayed. I understand that NewAge want to crack on with FLNG before the drill results confirming enough gas for both projects.

[gark] 02/1/2017 15:37

Cameroon is facing pressure from the World Bank to do more to develop its oil and gas resources so I think we will get approval early in the new year given they are planning to auction a load of new licenses.

[fireplace22] 02/1/2017 15:22

Thanks tli8jaguar, I can understand the concern of both parties, NA and the Govt. The situation could have been avoided had Lukoil given its go ahead to get the drill turning. Whether an alternative can be found to drill without Lukoil seems unlikely as it would surely have come to light sooner. Sounds like we're at the mercy of the Cam. Govt. for now.

[tli8jaguar] 02/1/2017 14:35

fireplace22,
My understanding of the situation is Cameroonian Govt. want to see the drill result before they approve FLNG, but NewAge want to crack on with FLNG before the drill result.

IRqueries
23/12/2016 (10 days ago)

to me
Mr xxxxx

Thank you for your email.

The joint venture is focused on defining a clear development path for Etinde. The operator is focused on FLNG, while the Cameroon authorities preference is for a domestic project (fertiliser or gas-to-power). Currently, enough resource exists to support one development project (be it FLNG or another option) with the appraisal wells offering the possibility of additional resource.

The joint venture remains in regular dialogue internally and with the Cameroon authorities working towards prompt development alignment.

Regards,

Bowleven IR
The Cube | 1st Floor | 45 Leith Street | Edinburgh | EH1 3AT

[fireplace22] 02/1/2017 13:52

in this piece from hazydisy


'As of November 2016, the companies are investigating early-stage development solutions to facilitate the monetisation of the existing Etinde resource base."

This is quite a change from the previous stance that the two further appraisal wells would be drilled and quantified before utilisation of the gas is finally decided upon.

The good point obviously being earlier revenue generation but the downside is that there will be no early drilling of the appraisal wells?

[gark] 02/1/2017 13:11

Happy New Year! Here's hoping for a good start to 2017!

[tli8jaguar] 30/12/2016 12:24

Slip, you'd better find out before you show any support for them.
It's so close now that I can smell gas, $70 million wasted on Bomono hopefully won't happen again.
It's not the time to jeopardise the company's future.
We all know what's left of the cash is for Etinde and Bomono development.

[slipanchor3] 30/12/2016 11:52

JAG

There is no comparison between XEL & BLVN apart from the two CEOs

1 BLVN have cash and no debt, XEL had no cash and all debt.

2 Etinde is a gas condensate discovery, Bentley was a heavy oil discovery.

3 Etinde is viable at $25 pb, Bentley needed in excess of a $100 pb.

4 Etinde is free flowing, Bentley needed extra sophisticated technology to lift it.

Re COC the question we have to ask ourselves is why are they on the scene.
Are they here to look after the cash to ensure we have sufficient funds to finance FID and development so there are no further delays.

Is the reason, to return part of the cash to shareholders as a special dividend.

Are they building up a stake to swing a vote in favour of an offer made by a third party.

They could be here to change the wasteful management.

There are many permutations, and I would appreciate any other views put forward.

[briand2] 29/12/2016 20:06

We could do without some of the more hysterical nonsense posted here.If you invest in AIM there is always a risk you could lose money.Some of the keyboard warriors should attend the AGM and tell the BOD about their concerns.Instead they come on here and whine and we have no proof they are actually shareholders.

[tli8jaguar] 29/12/2016 18:58

Thanks hazydaisy for this little bit of information,

"NewAge, which operates the Etinde field in the north, highlighted that two appraisal well locations have been agreed, targeting another 1-2tcf of gas and associated liquids in-place volumes. As of November 2016, the companies are investigating early-stage development solutions to facilitate the monetisation of the existing Etinde resource base."

But of course this won't interest them anymore, they just want BLVN dead and gone, even if it means they don't get a single penny back.

[tli8jaguar] 29/12/2016 18:46

Slip, none of the IIs have joined the party because the party doesn't exist. I didn't see IIs join any party at XEL.

[gunsofmarscapone] 29/12/2016 17:56

Warbaby

Thats an excellent idea, to be honest I will be quite happy to have this dogshare shot and oit of my life forever, 40 p will do and will take a small hit just to finish with these parasites.

The COLOSSAL profligacy cannot be tolerated, one would have thought that parsimony was at the very heart of any tartan company. These cowboys will have to learn to live without horses from now on. I don't mind if COC take this one for jelly beans just to stop the utterly selfish gluttony.

[slipanchor3] 29/12/2016 17:35

Jaguar

They are not using their own money they are working on behalf of beneficiaries probably for a %.

We do know that JPM transferred in excess o 35m shares and I think 1 or 2 other IIS have joined the party albeit in a smaller way.

IMHO dyor

[warbaby43] 29/12/2016 17:30

"I don't trust COC"

And nor do I hazydaisy, but neither do I trust the present lot to manage efficiently or economically any acquisition they might make with whatever might be left of the cash pile. The critical issue for me is a return of most of the cash to shareholders before it gets blown like the last $100m. If Crown Ocean embark on procuring that they will have my support despite my parallel reservations to your own.

[tli8jaguar] 29/12/2016 16:19

I don't trust COC,
look at the Holding Co they used to buy BLVN shares, if they are not careful they might have to pay tax.

[tli8jaguar] 29/12/2016 16:16

Thanks for sharing Hazydaisy.

[gark] 29/12/2016 13:31

I did the same. I want Hart out.

[warbaby43] 29/12/2016 13:27

"Shareholder Action Now!"

Indeed Guns, and I have just emailed Crown Ocean ( urging them to make clear their intentions and promising the support of my shareholding at any EGM they might obtain if those aims are to procure wholesale Board changes and a return to shareholders of at least $50m from what might remain of the fast dwindling cash pile.

[donpatrol] 29/12/2016 11:40

A nice tuck away my hole. Go flog that dog elsewhere, we already have one here to deal with

[gunsofmarscapone] 28/12/2016 18:28

May be a start to explaining the profligacy?

Come on Kevin, sell the four legged dog-meat and take a cut to £150k per annum not monthly old scrote and NO free shares!

Shareholder Action Now!