NA takeover? Who knows. That would be a poke in the eye from Steve to Kev. Etinde is the Jewel here but how long do we have to wait for it?
Lukoil on acquisition trail Considering takeover of bowleven
Slip, le_com was adamant that CO is acting on behalf of 3rd party who is not interested in takeover. I do have respect for the fellow.
Sold half my shares recent weeks.
Hart were to buy a producing asset he would likely over pay for it be it in cash or shares.
Bomono? Is it a money pit, will it generate much cash if Cameroon eventually sign it off?
My fear is the worst yet to come. If drills go ahead $140m 50/50 cash/debt $70M needed for Etinde, find it hard to believe they will have anywhere near this amount of cash left over the next two/three years at current burn rate.
The current buyback, in time will it prove just another waste of cash?
All points to a further placing with favoured ii's, dilution.
A takeover is shareholders only hope, Hart needs to walk before the cash is gone.
My concern is the involvement of Crown Ocean.
Why did JPM transfer 31M to C.O.?
1 Was it because they weren't getting the right answers to the questions they were asking and wanted a deeper insight into how the company was being managed.?
2 Was it because the institutions have lost faith in the management and want to install their own.?
3 Is it because they want C.O.to build up a controlling stake inorder to launch a takeover by themselves or to facilitate a takeover by a third party.?
4 C.O.have timed this stake build to perfection, knowing that Bow were running into a closed period and were limited as far as the buy back was concerned, leaving C.O.free, to hoover up all available shares on the market.
By the time BOW comes out of the closed period i would be surprised if C.O. with a little help from the institutions, doesn't have a controlling stake in the company.
Gark. I am thinking that the buyback has maybe stopped on account of blvn being in a closed period and are in advanced talks re a takeover (not in Cameroon I hope!). Clearly the co would be in a position of having news that could materially affect the share price and hence they would be precluded from buying their own shares.
Anyone think the buyback may have stopped as they have entered discussions on possible takeover?
Posting here for the first time in ages but still following the company and still adding on weakness.
I am surprised that none of you have asked the question: why has the buy back been put on hold this week?
My only explanation for that is that the company has some news to announce or has been approached regarding a takeover. Why else would they stop buying for a week?
I understand the shares are being held in treasury rather than being cancelled.
Maybe sell them on a high takeover offer, rejct the bid and end up with a stronger balance sheet? lol
Why hold in treasury?
If you consider the cash is in dollars, the value of which has gained 25% against sterling this year. The market cap of Bowleven is in pound sterling which has remained flat even though the value of the cash has risen.
The share Buyback costs Bowleven nothing.
This share should now be trading at 32p on the value of the cash alone!!
This is trading at a huge discount, the share buyback will make it even larger. Question now is how long before we get a hostile takeover attempt?
No to equity wipeout with a busted takeover done in that way.
It is a clever method of using a subsidiary as a temporary bond saviour so that they can
get firm control of the main assets or in this case asset sold for basically **** all back to the parent company.
I always comment about the likes of CHAR and the barren asset folder but in the opposite situation, specially in a distressed PoO market, good and proven assets are worth many multiples than how administrators attribute to them.
If in the future, the deal went ahead, the existing management would have to be retained for a minimum of 2 years. SP wise, normally you would expect a sudden strength in the share price as the asset starts showing it's true value and not the value that the overall sector market puts on it.
A long winded explanation but it is certainly not a negative when considering the current share price.
Apologies for the OT as not BLVN related.
Here hoping for a good finish tomorrow or an rns showing a takeover in progress Gla
Interesting that a takeover offer might be on it's way, unless a surprise corporate update ahead is sparking renewed interest.
I can't even trade it for a profit as I filled my boots around 30p average last April. I thought it was cheap back then.
Thats a big jump in % by these guys, and all done over the last 5 weeks yet the share price remains flat for this period. Market makers are holding this back for them. Interesting times ahead now, if they continue to stake build then it means we have a takeover alert here.
From Malcy today:-
Going the other way is Victoria Oil & Gas who's shares have nearly halved since the peak of 53p back in February. Today they have announced advisor changes which may indicate concern about a potential takeover which with a market cap of only ÃÂ£35m wouldnt surprise me one bit. ( See previous blogs re BLVN) Removing its broker and replacing with two new ones and keeping its Nomad is probably overkill but a belt and braces approach at this stage could be wise as the shares are too cheap.
Crown Ocean increasing again. Smells of stake building ahead of a takeover bid.