Sums it up for me!briand2 - 22 Feb 2017 - 08:38 - 14746 of 14747 - 2Crown should put more detail into their plan or make a proper takeover offer.
We know very little about the individuals behind Crown and being told that some investors have made enquiries and found nothing wrong without providing details does not cut it for me. That and the amount of time and effort being put in to knocking the current board by some posters is concerning. Crown should put more detail into their plan or make a proper takeover offer.
Darby. Yes I read it but it is extremely vague in outlining a number of options which may be appropriate.I am concerned that shareholders would hand over these significant assets to a group about which we really know very little. I still hope for a proper takeover with specifics about what is the price on offer.
WShak: COC appear to have 'ducked and dived" on their strategy to takeover/dismantle and/or sell off the company, according to the chairman of blvn. He has a solid reputation as a company coo and chair over the years. I do not doubt his concerns. COC have zero knowledge of the complexities of running a junior oil company on the verge of becoming a successful production company. Blvn are set up to generate a huge revenue in not to distant future. It is not about 'polish' or public speaking but competency. Blvn have made mistakes but hey, that's life. I'm not out to be churlish.
Would a new chief exec settle the market and impove BLVN's rep in the city , absolutely, but that is not what is being muted here. Complete takeover and asset strip by a company with no experience in this Industry, there is clearly a hidden agenda and probable collusion with other parties.
A new Chief exec with a proven rack record coming in woudl be a major step in the right direction. However if KH delivers in the next few months on a revenue stream farm in for bomono and or asset purchase then he deserves his chance, just!
The way I see it COC are halfway through Plan B.
Plan A - As a large shareholder approach the board with an offer
This didn't work and BLVN Board did not mention the price.
Plan B -
Stop the buyback (this will allow accumulation of shares cheaper to obtain 15%)
Request an EGM with the resolutions of removing most of the board
Buy enough shares to obtain 15%
Now the other half of this I feel there will be, especially after Bowleven's drafted RNS today, a clearer picture of how COC plan to increase shareholder value (Not that they are bothered about the PI but they need them for the 70% and a half decent return now is worth more than waiting two years or more for the board to completely milk the coffers dry)
After that then who knows and what will happen if they don't get their 70% ? Would it then step up a notch to a more aggressive takeover than Plan B ?
slipanchor ... problem is that BLVN has been prime for a takeover for years now and it just hasn't happened. So much so that I will believe it when I see it :(
"The Board will lose vital relationships with the Cameroon Government key to progressing the assets and realising value, and lose its entire relevant oil & gas experience and industry relationships"
They are having a laugh, the only reason they stated the above was in the hope that COC might retain them. The Board are pure selfish rats, who will attack the pi in the back.
COC have raised their percentage above 15%, they could hit a takeover threshold with the share price still under 45p. Complete the takeover then for 50p/share.
The big question still remaining is who is Bankrolling them?
There is a huge amount of pish on here Blvn and vog will never be one company Vog share increase is due to the forward figures they are givingBlvn is increasing due to crown buying all the shares I personally do not wish to sell out to crown we may be lucky and see a takeover offer in the next few days however my fear is that it will still undervalue the current shareholders
Good morning briand2.
As you write there is a lack of transparency .
My suspicion is that crown are not here for the long haul; rather a fast buck.
A takeover/merger with another credible company is my preferred option too.
I previously mentioned GENL as a wildcard such company. I know a bit about GENL and have been with them since 2012. Their SP is also being badly hit . Might be easier to fend off opportunist moves by a merger. This is especially the case with BLVN at present.
As a wild-card suggestion; a complete paper merger with VOG will likely put off the jackals.
However, KH is an impediment imo. He is not going to want to get off the driving seat.
I see him as a roadblock.
As for the horse references I am up for rattling cages to provoke responses. It seems to work lol. I would not be surprised if KH or one of his staff cast their eyes over the BB's. There's nothing like a good 'nag' lol
Cyan. I do want change here and I am frustrated at the lack of progress. I was content that Crown arrived and shook things up but have concerns about their intentions and need more transparency before supporting them.My preference would be a takeover by a proper oil/gas company for a fair price.I simply do not see how comments about how Hart spends his own money advance things.
It is interesting that the share price hasn't moved up more. Presumably, any takeover bid could count on coc, as well as a multitude of others so this would be the ideal time. But.... it looks like Mr market doesn't seem to think that will happen. Wonder why. Are the any contacts or other issues that commit blvn to things that others don't want to take on ?
tli8jaguarzzzz indeedlets all have a nap while we wait on jam tomorrowyes, we dont know crowns plansbut we have significant history on what board have done, blew half a billion, trousered options, cocked up bomono by about 25p share ffs, lapsed licenses, paid deal break fees, lost operatorship benefitted from VERY favourable sterling depreciation and they would be quite happy to sit there for another few years, all they need to do is turn up at a few uncomfortable investor events and promise more jamyou seem to think that the options are between crown and maybe 40p per share and much much higher with the current boardthere is no reason to expect the board to pull this off or further drilling success at etindehappy to stop posting on this but i will say again, in a year after another round of options and big wages 35p might look rather goodbest option would be a takeover, but now who is dreaming..
They have $90mn or so in the bank, $65mn of carry and the asset. How will they go into administration? New Age and Lukoil are drilling, why does Bowleven exist and employing copious amounts of staff? CO are right, all spending should be stopped if all we are paying for them to do is deplete what cash they have left. I will be voting with CO and hope there will be a takeover in the meantime.
City speculation that the Scottish firm was being stalked saw heavy trading in BowlevenÃ¢â¬â¢s shares before Dragon Oil issued a statement confirming it was exploring an offer. Tullow Oil, another UK-listed oil firm, had been rumoured to be lining up a bid for Bowleven before Dragon made its announcement.
Read more at: http://www.scotsman.com/business/companies/energy/600m-takeover-talk-sends-bowleven-shares-spinning-up-1-2123893
remember the good old days
Lots of shares being traded on daily basis now I reckon we will see an update of co increasing there shareholding soonManagement are at loss with what to do with them I reckon co will partner with someone like luke oil for a complete takeover What a bargain they will get this for
What will crown ocean do next guysA complete takeover at this price range is a to good an offer