Bowleven Dividends - BLVN

Bowleven Dividends - BLVN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Bowleven Plc BLVN London Ordinary Share GB00B04PYL99 ORD 10P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 4.75 08:00:11
Open Price Low Price High Price Close Price Previous Close
4.75 4.255 4.75 4.75
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Industry Sector

Bowleven BLVN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

ctc1: blvn/crown ocean finding it all not so simple now. However, I do hope that the deep value investing works.
welshki: Sorry Dealy I should be more specific with my answer - Etinde will go into production, but BLVN taking their part into production, thats the slim to none chance
welshki: Hi Dealy.......I'd say that chance is slim to none. As we are no doubt all aware COC by their very nature aren't likely to want to tie their large investment down forever and a day, the time needed and risk associated with taking this all the way through to production, in my opinion, isn't their business model. Plus there is the dividend payout of 15p, it would seem odd to hand out all that cash knowing the large amount of money they would need to go into production. With FID would come the possibility of raising money via debt but it just doesn't seem the most logical approach. I think Etinde and by extension BLVN is going to be sold shortly after FID to either Lukoil or New Age. The price, who knows, I am just glad KH is not negotiating that for us anymore! The most interesting factor for me is the CEOs 10,000,000 options which only trigger at 45p. Seems a crazy price point considering the share price now but they set it knowing all that we know now......just wonder does that 45p include the 15p divi so a sale could happen at 30p and options still trigger, or does a sale need to be at 45p no matter for thought
welshki: Dealy pay no attention to winnet he is a very bitter ex-shareholder, with zero class, that lost the vast majority of his investment here. An individual that was promoting BLVN at way over 200p and worshipping the ground Kevin hart walked despite the multitude of his failings, some the product of incompetence, others complete lack of fiduciary responsibility and some, I have heard on the grape vine, down to corruption. Either way winnet didn't bat an eye lid, or utter a single word of criticism throughout the entirety of KHs utterly shambolic reign here. Winnet has always said COC will run off with all of BLVNs cash (despite never providing a single shred of reason or logic) and even now when they paid out 15p to ALL shareholders, he is still not willing to accept reality and admit that COC are far better custodians than KH was, and ever could be. Winnets opinion is and always has been derived from either stupidity or dishonesty. Always whinging that COC "stole" this company, despite a completely legal and above board takeover that was allowed to happen due to KHs dismal performance. Fact is KH put the company in its woeful position way before COC arrived. COC have not done a single thing illegal, underhanded or irresponsible during their tenure and its desperately embarrassing winnet still can't accept that and still turns up like a sad little man when ever the share price drops.
dealy: They own 100m shares and have the same incentive as other shareholders to see the stock go up. The dividend was received by all. There is still a chance that on of the JV partners buys Bowleven to simply things going forward. 10p per share is still a double from here in a pretty much worst case scenario
ctc1: Interims tomorrow. The annoying thing is we could have had a fertiliser plant up and running by now if it wasn't for the grandiose plans of New Age bullying blvn out of the way and seeking Flng size development.
warbaby43: With a hat tip to Hamz74 over on LSE: Https:// And from the Tullow site: Https:// At first site an EG transaction that is encouraging when considering BLVN's 48.8 mboe but the Tullow sale is of an established long producing asset not one with just FID - which is still a long uncertain way off for BLVN and its holders
belo horizonte: I can’t see COC wanting to be a producer. The question is what sort of deal can be done with the other partners. Taking cash now reduces project risk so it will have to be at a discount to the project NPV. Question is, what is that? BLVN sold 40% back in the day for around $250M; thanks for burning through that Kev; so is 20% worth $125M today? If I remember correctly, COC’s average purchase price was around 28p per share. Adding in the special dividend means it needs 13 -14p just to break even. To my mind 25 -30p per share seems the likely range.
warbaby43: This is a dollar industry so rather than first thinking in terms of pence per share, more relevant perhaps to think of what dollar price BLVN's 48.8m boe might be sold for and guestimate what the £/$ rate might be and attempt then to work back towards a range of possible share price So far as production and the possibility of dividends are concerned, it's going to be at least three years before production, and financing is going to be expensive, given political and surety of gas income risks. Additionally, the other partners are likely to wish to continue drilling, given the raft of other significant prospects that lie within Etinde, so a significant chunk of income remaining after financing is going to be required to fund BLVN's share of those costs. Throw in the fact that Lukoil's present 30% share entitles it to just c73m boe and the most beneficial outcome for both parties would seem to be for Lukoil to buy BLVN near to or soon after FID, so that their share becomes c 122m boe - much more appropriate for an oilie of their semi major size. Many more pages still to turn in this story but, at least, there should be a steady flow of updates from now on in.
warbaby43: An interesting scenario portrayed by Happy Sparrow, but despite all the stake taking activity etc, the VOG S P remains firmly in the doldrums just like BLVN's does, despite its really positive FEED RNS. What is bizarre, though, is that skint VOG has more or less the same market cap as BLVN, despite BLVN's P50 50 -60 mboe and $13m in cash (even while some of us would have much preferred that to be nearer the $76m that it could have been) Where VOG is very relevant to BLVN, though, is with their gas supply LOI with the putative Douala AKSA 150 MW power plant and BLVN's consequent 25-30mmscfd supply LOI with VOG, and I have thought for some while now that IF the AKSA project does proceed, the odds on FID are significantly shortened, subject, of course, to oil price recovery and longer term forecast. However, even if the AKSA plant does proceed,in the AGM Conference Call, Chahin did say at c 16.45: "Phase 1 will clearly have an element of gas generation, the problem is much larger than that with a huge amount of gas that we need to export" Which, of course, raises the question of just how much is "a huge amount" and where else is it going to be able to go, which bring us to the Interims of 27th March in which copious mention is made of gas reinjection and reservoir recycling in the development's early years with the implication that export, presumably to Bioko, is seen as important and highly desirable but something to follow down the line. If anyone has a different interpretation, I would welcome correction. As far as gas reinjection goes p18 of the AGM Presentation says this: "NewAge has identified four potential opportunities to reinject gas • Each opportunity could provide up to 3 years availability at up to ca.50,000 scf/d production" All well and good maybe, but hardly likely to mop up the rest of that "huge amount of gas" that is needed to be disposed of, which brings us back to the question of how much is "huge" Indeed, one of the most intriguing questions is just what are the expected flows from the initial IM development. As far as I am aware, all that we do know is that IM-5's maximum flow rates were 60 mmscfd and 7,819 bpd of condensates - all very nice but hardly commensurate with the six well development being planned. On the Conference Call, Clancy was questioned on flow rates but his reply was just to add up the flows from well tests with the added cautionary note that test rates don't necessarily mean production rates. The trouble with that being that, so far as I know or could find out, the results of the pre 2004 float wells drilled on Etinde are unknown to us. I tracked back through RNS's and the float RNS in December 2004 did indicate significant assets (though across MLHP-5&6 as well as 7) with this from its initial RNS: "It controls three shallow offshore blocks in the Etinde Permit area with proved and probable (P50) recoverable reserves (independently assessed) of 60.3 million barrels of oil equivalent ('mmboe') plus P50 contingent resources of 58.2 mmboe i.e. a total of 118.5 mmboe of recoverable hydrocarbon volumes. As well as P50 hydrocarbon reserves and contingent resources the 2,300 sq km acreage, which has had 9 wells drilled in it, has very attractive exploration potential. The Company has operated in Cameroon since 1999." Neither here nor in any subsequent RNS could I find any split of those assets though there was mention of an audit report by Scott Pickford accompanying their admission document and being available then on the BLVN website - not now, though, it would seem, as a search for Scott Pickford brings up precisely nowt. As keeper of the BLVN Royal Archives, does Gark (or anyone else) have any handle on this?
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