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BLVN Bowleven Plc

0.20
0.00 (0.00%)
19 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 Shares Traded Last Trade
  0.00 0.00% 0.20 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
0.10 0.30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs -2.02M -0.0062 -0.32 654.93k
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.20 GBX

Bowleven (BLVN) Latest News

Bowleven (BLVN) Discussions and Chat

Bowleven (BLVN) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-03-18 15:56:360.107,7017.86O
2024-03-18 15:55:150.106,6396.77O
2024-03-18 15:17:180.22227,126494.00O
2024-03-18 13:59:240.1020,00020.00O
2024-03-18 11:10:460.2253,000116.60UT

Bowleven (BLVN) Top Chat Posts

Top Posts
Posted at 18/3/2024 08:20 by Bowleven Daily Update
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 0.20p.
Bowleven currently has 327,465,652 shares in issue. The market capitalisation of Bowleven is £654,931.
Bowleven has a price to earnings ratio (PE ratio) of -0.32.
This morning BLVN shares opened at -
Posted at 12/2/2024 13:04 by warbaby43
As to what gas and from where silence, but if not from Etinde then presumably SNH have done a deal with Perenco to use RDR gas and while the RDR product might be more expensive than Etinde's, SNH do have a 60% share of the largest producing field. If this is what's gone on then it would presumably account for the 18 months spent up till the "Termination of Transaction" on 25th January:
Posted at 25/1/2024 15:28 by hooded claw
I sold this at 40p a share at a profit just after the hostile takeover that was for delivering the true value of Bowleven ... Oh what a mess they made !!
Posted at 19/12/2023 13:58 by ham74
They did not say any exact price. Over the summer in July it did bounce to 3p on a small amount of buying.

They have repeatedly said that they would aim to let all shareholders participate in any offering. There was no change to that at the AGM.

It is also fairly normal to have an open offer. During Covid we saw quite a few urgent/emergency type deals disapplying preemption rights, but I would say they are fairly rare.
Posted at 19/12/2023 12:51 by tabhair
"Bowleven would prefer to see the share price rebound to minimise dilution."

I did laugh at this bit. What do they mean, instead of trading at .50p they want it to trade at 1p instead? At this sort of market cap, the share price is irrelevant as any dilution is going to be chunky.

The biggest question here (assuming you believe there is value in the asset) is that minority shareholders are going to be protected and allowed to take part in any rights issue on equal terms.

Did AGM attendees get any sense that management would do right in this regard?
Posted at 08/12/2023 19:35 by ham74
Here are some other bits and bobs gleaned from the AGM:

Limited communication

The joint venture between Bowleven, Lukoil and New Age, is technically an “unincorporated JV”. This gives the parties commercial rights, such as pre-emption rights that were not exercised when Perenco bid for New Age’s stake, but does not guarantee communication. Therefore, the discussions between New Age and Perenco have been bilateral, and the directors admit they are confused, baffled and surprised by the delays.

Nonetheless, they are aware that Perenco and New Age agreed to an addendum to the long stop date. Bowleven has had sight of it but cannot share it as it is private.

Recoverable costs

Regarding the difference of opinion over USD 10 million of recoverable costs, there are a few angles. Bowleven’s share of this is only 25% or USD 2.5 million. The money can only be recovered from future cashflows from Etinde In the greater scheme of things, USD 10 million is not that much for a project that could generate over USD 1 billion of cashflows. There has been a 10 year audit trail on costs, which is naturally a big exercise. Bowleven anyway expect this dispute will be resolved.

Other Perenco licenses

One possible source of complication and delays, is that Perenco could be negotiating /renegotiating multiple licenses with some inter-related and overlapping issues. We already know they renewed the Rio del Rey license earlier this year.

Possible sale of Bowleven Etinde stake

If this ever happened, the SNH approval process should be less complicated, because Bowleven is a financial investor and not an operator.

Geopolitics and costs of capital

The Chad pipeline dispute, and change of regime in Gabon, could raise fears of contagion risk, increasing the country risk profile. Equatorial Guinea however looks relatively stable.

Geopolitics might increase costs of capital but the auditors agreed to a 15% figure in line with previous years.

Perenco in West Africa

Perenco is the largest player in Cameroon, and is also active in Ghana, as well as Gabon.

Capital raise

Bowleven would prefer to see the share price rebound to minimise dilution. The aim is to offer it to existing shareholders, but they could also be open to new shareholders. Some form of hybrid structure could be considered, though a pure loan would be unlikely. Any offer probably needs to be fully underwritten to take out the execution risk.

They cannot disclose details of the Crown Ocean proposal, such as the share price, because it is private, and is anyway an ongoing discussion.

Domestic Gas

This could be important as part of the ESG agenda, in terms of obligations to the host government.

Development Finance Institutions

If the project gets to development plan and FDI stage, it is possible that development banks and other multilateral agencies might provide some financing. Bowleven has had discussion with banks in African and France before, but there needs to be a clear development plan agreed.

Lukoil logistics

Bowleven think that Lukoil needs to be aligned on the development plan.

Costs

There are currently two directors, two finance staff and someone on the ground in Cameroon, at the Euroil subsidiary.

Overheads (excluding development spending) could be about 1.5 million a year next year, but not all would be a cash outlay. If the directors defer their emoluments, these amounts will be accrued.

The costs of being listed are about 300,000 to 400,000 a year.
Posted at 17/11/2023 10:03 by ctc1
If the fertiliser plant had been approved as originally planned, without NAge interference and wresting operatorship off blvn, we would all be wealthy now.
Posted at 10/11/2023 17:27 by wakeland
In fairness I don't think anyone either investors or those within the company could have imagined the glacial speed of the Cameroon authorities. It has been dependant on this Perenco deal going through for how many years now? At least they have held off dilution until the spring but if the authorities do not give their blessing sometime soon it is over for Blvn (well for sure the equity).
Posted at 28/7/2023 11:32 by steveberyl
You quickly find out, `Genuine from Fraud` in share trading.

Be that as it may, BLVN, Fundamentals remain the same, the true Lukoil position as stated previous. Lukoil is as influential as this BB.

Nothing more than a tree shake, MM`s know the Volume will increase Dramatically following the decisive RNS. Therefore look for weak holders.


After tipping, BLVN on a few sites, THIS.
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
Riskyinvestor28 Jul '23 - 10:17 - 861 of 866
0 0 0
CHESTY1

Cheers for saving me money on BLVN


xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

May I leave that right there.
Posted at 26/7/2023 14:15 by imjustdandy
on LSE Board

I reckon Perenco will want full ownership and will look to buy Blvn out up front of developing Etinde.... and Bowleven will bite for even a semi decent offer .. and a semi decent offer would see this share price MULTI bag from 4p not to mind 2p..

(Blvn is run by a bunch of hedge fund guys who just want their money back and a turn ...and walk away from this and stick with the day job in future)
Posted at 26/7/2023 13:57 by riskyinvestor
So the Board said the other day they know no reason for the share price rise


but this could be the reason..This is a snippet from BLVN's interims


"once Perenco's Etinde interest acquisition has been completed, it may seek to take a fresh look at Etinde development options and put in place a full development team. Assuming Perenco and New Age's transaction completes in June 2023, "
Bowleven share price data is direct from the London Stock Exchange

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