Bowleven Share Discussion Threads

[nickmann] 25/3/2017 20:20

benjimun

i thought you do not hold?

its rumours from various bbs.

[benjimun] 25/3/2017 20:10

nickman,
Where are you hearing this rumour?
COC m,ay indeed be temoted at 50 - 60p but that would seem to contradict there recent statement regarding appraisal.

Don't fotrget that we the shareholder will be ultimate arbiters of whether to accept a deal or not, unless COC plan to offload their shares to NA/Lukoil or other oiler.

[nickmann] 25/3/2017 17:57

lets keep our fingers crossed.
may get some news in tomorrows press.

[w1ndjammer] 25/3/2017 17:56

Nick if i had bought at 25p i would ride it out till the end , however if COC
keep buying and hit the buffers, and the deal gets delayed for any reason then
the share price could drift lower than current share price who knows what will really happen.

WJ.

[nickmann] 25/3/2017 17:49

W1ndjammer...

50 p or 60p would do it for COC..thats what the rumours are.

[w1ndjammer] 25/3/2017 17:43

nick, as i said i would, i bought a few last week, cant say how long i will hold.

WJ.

[nickmann] 25/3/2017 17:41

w1ndjammer you know your stuff...

are you a buyer at these levels???

what do you think the end scenario will be.

[w1ndjammer] 25/3/2017 17:40

yes just like the IE-3 which tested at 22,909 boepd now where is that CPR ;-)

at $1 per barrel guess NA thought it worth a punt.

just my opinion , i am sure it will all be ok

WJ.

[slipanchor3] 25/3/2017 17:23

Both Lukoil and Steve Lowden will have done their due-diligence, they will know exactly what's there from the CPR and the future potential.

[benjimun] 25/3/2017 16:42

The idea that NA/Lukoil have been duped in someway by KH over etinde potential is just plain daft, the BLVN BOD might be that daft but NA/LUK are not!
The appraisals are simply to see what resources are available to develop two or possibly all three of the monetisation proposals. NA clearly want the LPG as it is very profitable while the cameroon govt want to start shipping gas via the Equitorial Guinea route to start earning sooner rather than later.

[nickmann] 25/3/2017 16:36

let the markets decide what the takeout price will be.
i still go for low end 50p and high end 60p.

the end game is near for KH AND HIS CITY mates.

[benjimun] 25/3/2017 16:33

Aphro..

I have in the past been inclined to agree with your sentiment and I am still open to that possibility ie COC want in and out quickly. However as stated today by COC selling prior to appraisal would be poor value for shareholders, now if that sentiment is genuinre they appear inclined to wait for appraisal or an offer that takes into account the potential for further rerating of etinde.

Hence my earlier post today querying whether COC could make public the letter they have sent to the Board regarding some queries they have. It might well be there has been some shenanigans by the BLVN BOD or that the COC are looking to create a narrative that KH has mislead shareholders about etinde and that this warrnats accepting a low ball offer.
I intend to watch from the sidelines and see how this plays out, essentially questioning any announcement with 'prove it'!

[hot_topic] 25/3/2017 16:31

"Tiger by the tail" was the Sapele disaster. Looked like it had massive potential but ended up being too fractured so came to nothing.

[aphrodites] 25/3/2017 16:13

Benjimun

Book value may well be 90p but that is not the price COC is looking for.

Rest assured COC is working hand in glove with another party which is helping to finance their share purchases.

COC, as it states, might not be looking to takeover BLVN but they know someone who is.

They will increase their stake to just below 27% but they will not chase the price.

It is clear one of the MM's is working with them to keep a cap on the share price. We might see it go through 40p but I doubt we will see the price higher than 45P. Progress above 40p is going to be very slow!

But I do expect a bid around 45/50p which COC will accept for its holding.

BLVN is at the end of its life and the death rattle is very loud and clear.

[nickmann] 25/3/2017 16:12

good post w1ndjammer.

i would take 50p or 60p.

[tiler1] 25/3/2017 16:08

WJ

Yes I remember that tiger by the tail quote ! It was on the back of the rig kick back.... drilling a high pressure zone with the wrong rig.

I must say WJ you have called KH completely right !

[benjimun] 25/3/2017 15:28

It will NEVER get that bad!

[holts] 25/3/2017 15:26

this is beginning to resemble a gkp BB

[nickmann] 25/3/2017 15:14

i would take 90p anyday.


when are they going to start drilling the apprisal well in Etinde??

[nickmann] 25/3/2017 15:05

see if we break 40p next wee..
might get amention in sunday press tomorrow.

[benjimun] 25/3/2017 14:26

Book Value is 90p there is no reason at all to sell it below this price, none.
I am assuming that the value associated with Etinde at current reserves is based on farmin at $2 per barrel.
If BLVN held long terms what cash flow woudl our 20% earn , significantly more.
NE/Lukoil were given a v good deal to get them on baord, if NA want our 20% time to pay up!
They shoud be paying sig more than $2 per barrell, why not $4+ ?

[nickmann] 25/3/2017 13:54

thats my target 50p or 60p break up value.
remember cove energy how it sold its 10% gas find for several millons and millions.