Bowleven Share Discussion Threads

[cyman] 02/3/2017 21:15

Slip decent post by you in the morning. I am personally very concerned about a suspension but still 17p away from my average which translates into a huge figure. I have voted against all the measures but am wondering whether to hold on what I have left or sell the remainder. Myself and a close mentor have sold a LOT in the past 3 weeks and only i still hold

[cyan] 02/3/2017 17:02

sizeable volume and it looks like we have a BIG buyer. My guess; COC.
Getting interesting.

[slipanchor3] 02/3/2017 17:02

rossannan

I think they achieved their main objective on the last vote which was to stop the buyback, making it relatively cheap to acquire the 16.3% as opposed to the 10% held on the last vote.

There have been some fairly large parcels of shares changing hands lately (ie the 3.5m parcel traded yesterday ) if that is COC still buying together with the 6% declared by the BLVN activists it is going to be a very close run thing.

It wouldn't surprise me to see another holding RNS taking their stake closer to 20%.

The final outcome will probably rest with the II's and HNWI.

[cyan] 02/3/2017 13:06

For tax purposes its last in, first out.

[glavey] 02/3/2017 12:52

I'd have sold the expensive ones first...

[hernando2] 02/3/2017 12:44

Sold 50,000 this morning and voted 90,000 with COC....the ones I sold i had bought in the low twenties , thank you board for decimating the share price, thank you COC for getting me a good return on them...

The ones I hold i bought at high twenties, 40, 50 and 80 ..thank you board..and who will i be thanking in a couple of years time?

[cyan] 02/3/2017 12:33

Very good points slipanchor3. Who is buying? I think COC are accumulating and that raises their average. Talk of a fall back to 25p does not stack up, imo.

[slipanchor3] 02/3/2017 12:29

GUYS.

Before you sell one or two questions to ask yourselves.

Today there has been 1.036m sold v 138k buys who is hoovering them up?.

IG are 100% long on BLVN why?

You have got to go back to last August to find an II selling and that was when COC arrived on the scene, make of that what you will.

There are no short positions opened against BLVN on the FCA daily update website page why.

The IIs are always privy to a lot more info than the PI, if we are going to find ourselves under suspension and our assets transferred to MONACO why aren't the II's shorting and dumping, or is it them hoovering up the shares that the PIs are selling.

As always, AIMVHO DYOR

[briand2] 02/3/2017 12:08

I share the concerns raised about new posters appearing and using the same negative lines about BOD failures in the past almost as if it were an organised campaign. It makes you wonder why their voices were never raised at shareholders meetings if they were so annoyed. That is assuming the posters were and currently are holders of the stock.

[cyan] 02/3/2017 11:52

If they are going to produce from those wells we are talking very modest income for an uncertain extra cost.
BOMONO is very much the minor story in BLVN's asset value.

I think we will have another COC rns showing they are accumulating still.

[winnet] 02/3/2017 10:30

cyan - i think they will want to link these wells up which were suspended for development, before more drilling IMO. They have made it clear early revenue from bomono is key.

[phowdo] 02/3/2017 10:25

Hart or COC?
Scylla or Charybdis?

I've decided to take the 3rd option and sell my holding.
Good luck chaps, I'll be watching this one out from the sidelines.

[cyan] 02/3/2017 10:01

Hi winnet. I am not so sure VOG are the sort of partner BLVN are looking for as they are cash poor.
BLVN are looking for more appraisal drilling and we know how inexpensive that turned out to be ! lol

[winnet] 02/3/2017 09:54

i suspect as the farmee will be VOG and its their infrastructure they are linking into.

We'll need to wait and see. But a VOG farm in would be the most likely strategic option for the asset.

[cyan] 02/3/2017 09:47

Why are the board so desperate for a farm-in to BOMONO if its so close to monetization for next to no new capital, as they implied.

No, there's a lot more cash needed there and they need to burden share imo.

BOMONO looks like its an ongoing money pit.

[winnet] 02/3/2017 09:39

When is this Bomono revenue going to kick in?

-----------

As you know we are awaiting governmental approval on the PEA - i assume once this is granted we can get going. I would hope with the year. But this is Africa.

[winnet] 02/3/2017 08:50

G and A has been cut to circa 8 million. Ongoing cost cutting is taking place to reduce this figure.

Bomono revenue (as i have said many times before) will cover the G and A. I am not concerned about this figure. Businesses run properly cost money to run. There have been mistakes in the past and G and A wasn't cut quick enough following Etinde disposal.

However, to meet our ongoing development commitments, both on Bomono and Etinde, and to ensure we have the flexibility with any new projects, and to keep the business as fundamentally an O and G business (which is what i want to invest in) then we need some staff.

The key question is, what level is appropriate?

Now to me, cutting G and A to 1-2 million as proposed by COC means we are a holding company, not an O and G business.

Fundamentally, I do not want any part of this, as it means the end of BLVN as a business. There is no need to close the business down you would only do so if you see downside from here. I don't, i believe in the assets we have and the route to their monetisation is to develop them further, not sell them on now.

Vote against IMO.

[targatarga] 02/3/2017 08:46

My instinct would be posters being paid by both sides! KH and COC will both play dirty!

[carla1] 02/3/2017 08:44

LE CON is a jackanory story teller who has been caught out many many times... a day dream believer...FACT

[hernando2] 02/3/2017 08:22

Who would in their right mind enter into a farm out(even if it was economically viable), whilst this vote plays out.

the board have painted themselves into a corner with their hiding of information and wild double or nothing spending plans. IMO