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BLVN Bowleven Plc

0.165
0.015 (10.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bowleven Plc LSE:BLVN London Ordinary Share GB00B04PYL99 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.015 10.00% 0.165 0.10 0.20 0.15 0.15 0.15 233,534 16:40:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -2.02M -0.0062 -0.24 491.2k
Bowleven Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker BLVN. The last closing price for Bowleven was 0.15p. Over the last year, Bowleven shares have traded in a share price range of 0.111p to 3.35p.

Bowleven currently has 327,465,652 shares in issue. The market capitalisation of Bowleven is £491,198 . Bowleven has a price to earnings ratio (PE ratio) of -0.24.

Bowleven Share Discussion Threads

Showing 87351 to 87372 of 92900 messages
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DateSubjectAuthorDiscuss
22/2/2017
08:26
Iv - Please enlighten us what has happened since 2014/15? F all! Other than wasting $90m and taking the fat pay checks of course?! And what are those 23 / 30 odd employees doing? Fiddling their thumbs? Reading these BBs maybe for inspiration?!
durby
22/2/2017
08:26
Benjimun
21 Feb '17 - 13:01 - 14708 of 14744 3 0

I am happy to wait till 2022 etc if that is what required.

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

You don't learn from your mistakes then I take it ? Just look back 2 and a half years to June 2014 and look at what was mentioned by the current board at the time about realising value.

With the current board in place Bowleven will run out of cash WELL before 2022 and shareholders will be left with peanuts/nothing.

Take your head out of the sand and see the 'vision' by the current board is just the same carrot they have been dangling for years to keep the shareholders quiet while destroying remaining value in the company.

Regards
IHNC

ihavenoclue
22/2/2017
08:17
Donpatrol
20 Feb '17 - 21:20 - 14674 of 14743 0 0

I said FIRE-SALE value. Try being realistic, no-one ever pays the true value and remember COC are asset stripping so it will be a fire-sale.

Tiler1
20 Feb '17 - 21:57 - 14676 of 14743 4 0

DP the point is ... there is absolutely no need to fire sell. Whoever gets the keys

=========

Spot on Tiler1 ....

Don ... perhaps you should look at the circumstances behind a "fire sale" so you then may know what you are talking about. They have $95m in cash ... they are not desperate to flog assets at any price !!

ihavenoclue
22/2/2017
08:12
Directors in fear of losing the gravy boat have got access to selftrade shareholders list to send out pleading letter advocating rejection. Brassneck , they have wasted millions , overseen value destruction when they were very well placed , redundancy is to good for them , trouble is they will still get fat pay offs .
holts
22/2/2017
07:49
Articles from 2014 and 2015! Beautiful. The lady doth protest too much, methinks.
lvlarky_13oy
22/2/2017
06:51
LE COMMISSAIRE exposed?

Just came across this board. Knew that fella has a murky past. You can smell it from miles away! Completely untrustworthy!

durby
22/2/2017
06:33
And the value destruction - all very well documented.
durby
22/2/2017
06:22
Worth a refresher -

Big rise in boardroom pay.

durby
21/2/2017
23:09
Hazydaisy, was it COC that created their own Bowleven website?
tli8jaguar
21/2/2017
23:03
BenA1
If this is the message you mean.

Some results may have been removed under data protection law in Europe. Learn more

i got this message when i searched for Kevin Hart Bowleven

hazydaisy
21/2/2017
22:41
Interestingly, his two fellow authors have lots of publications, this is KS's first.

If you look at Konstantin's linkedin, it's a bit blank...what has he done before?

When you search for photo's of him you get the"certain photos have been removed" etc and only get the linked in photo..

Why be so mysterious Konstantin???

bena1
21/2/2017
22:33
So I have done some more digging on Konstantin; I still have not got around the problem of all history being blocked thanks to euro laws, but I have found this;

file:///home/chronos/u-1845cb2ec8d79fd81c620bbd6fa1c6b795551d29/Downloads/Kooperationen_von_Managementberatungsunternehmen_E.pdf

for those of you that do not understand German, Konstantin has just been published as the third author on a paper on "the study of co operation between consulting firms"

again, if anyone has any ideas as to how to find out what has been hidden as is flagged by the euro warning at the bottom of a google search,please let me know. I met him at the meeting and he had NO IDEA about what the future was. HE WAS ONLY INTERESTED IN THE CASH.

bena1
21/2/2017
22:20
CYMAN

I'm not a legal beagle but I'm not sure your argument holds to much water if you're are conducting business in the UK you are subject to rules of the FCA and UK Law.

Like many people on this board, I would like to know the full share price on COC, but from the research carried by people on this board, they have been unable to unearth any skullduggery on behalf of COC so where they get the monster image from I don't know.

slipanchor3
21/2/2017
22:08
jag - I want whats best for me and most shareholders (even if they don't realise it) , and that is to have kh ousted at the first opportunity before there's nowt left in the pot - IT WILL HAPPEN if he survives - mark my words

it a 1 by the way (again)

d1nga
21/2/2017
21:46
JAG, going by your figures it's going to be a very close run thing if we get to the EGM stage. I'm hoping a compromise will be found before we get that far, even if it is only to save some very tarnished CVs.
slipanchor3
21/2/2017
21:32
SlipWhat are these fund managers and ii's going to do then? Once coc are in charge and suddenly rns the sales and announce the division? You won't even be able to sue coc as they are well and truly offshore
cyman
21/2/2017
21:19
Slip, besides COC, the IIs hold 38% of the shares. Say 20% are nominees. Say, 10% vote for the BOD. 18% are fund managers who should vote for the BOD. That's 28%. BOD have 1.5%, and that's 29.5%. Share certificate holders own 48%. The BOD need 21% out of the 48% to win.
tli8jaguar
21/2/2017
21:13
jag

is that the only comment you have on kh's tenure over the co. you're willing to let the fact go of all the disasters he's been in charge of and just give him another chance ? fool me once shame on you etc etc

it a 1 by the way d1nga ;-)

d1nga
21/2/2017
20:44
IF the shares are suspended COC get to implement their plan

BUT as you infer it would be better if COC could put more meat on the bones of it

whether thats possible at this stage is doubtful , so trust is definitely required

BUT to trust in kh further is likely to be painful IMO

d1nga
21/2/2017
20:10
Thanks dinga that's quite a painful summary and cause for concern But please tell me if the bod goes the shares WILL be suspended. What then???
cyman
21/2/2017
20:10
I have just googled the two principals of COC, it is notable that they have asked for some things to be removed from the search....if anyone has any idea how we can work out what that was I'd love to hear it. I have tried using Google.com and switching my vpn so it looks like I am in the states...there must be a cache somewhere?
bena1
21/2/2017
19:27
Benji

Since Hart took over as CEO of Bowleven this is what he has achieved:

Bowleven entered Gabon and exited Gabon.
Bowleven entered Kenya and exited Kenya.
Bowleven entered Zambia, and exited Zambia.
Bowleven has diluted equity holders nearly 10 fold
Bowleven raised $650m from shareholders and a further $250m through the Etinde farm-out (including the free carry and future FID payment), but the company is now worth the equivalent of only $108million.
Bowleven’s interest in Etinde fell from 100% (subject to Government Back-in) to a 20% interest.
Bowleven relinquished operatorship of Etinde, and therefore lead control on the development of Etinde.
Bowleven spent >$200m drilling on Blocks 5 & 6, including sole risking a well, and then relinquished the blocks.
At the 2013 Bowleven AGM, Hart responded to a question from the floor that he personally valued Bowleven’s stake in Etinde at $1bn. Hart ended up selling 66% of Bowleven’s share in Etinde (40% of the project) for $170m cash and $80m in credits. Hart was unable to defend his own valuation through this transaction.
Hart has repeatedly changed his forecasts for the drilling of the appraisal wells at Etinde, from indicating that these would commence in 2016 and then 2017 to now offering no forecast at all. This emphasises how little influence Bowleven has over the project.
Bowleven has been involved in repeated legal actions with current and former partners over failed drilling campaigns, including the sole risked well at Etinde and the recent Bomono fiasco.
Bowleven has spent >$100m on Bomono so far with no tangible results.
Bowleven has gone from seeking a 20-year Exploitation Authorisation for Bomono to accepting a recommendation from the State Oil company of a 2-year Provisional Exploitation Authorisation
Bowleven received cash of $185m during the period May 2015 to October 2016, but has only $95m remaining as at 31 December 2016. Hart has therefore spent $90m with nothing to show for it.
Bowleven claims to have screened 50 new venture opportunities over the last financial period, but failed to complete any deals.
Bowleven has lost the support of its largest shareholder, Crown Ocean, who has vetoed the share buy-back scheme and blocked the disapplication of pre-emption rights (meaning no share for share deals on new ventures without their support). This largest shareholder has now requisitioned an EGM seeking wholesale change at boardroom level.


Considering all this is it any wonder that Kevin Hart narrowly avoided being voted out of office at the 2016 AGM?

d1nga
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