Bowleven Dividends - BLVN

Bowleven Dividends - BLVN

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Stock Name Stock Symbol Market Stock Type
Bowleven Plc BLVN London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 1.95 08:00:12
Open Price Low Price High Price Close Price Previous Close
1.95 1.70 1.95 1.95 1.95
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Industry Sector
OIL & GAS PRODUCERS

Bowleven BLVN Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount
07/01/2019SpecialGBX1530/06/201730/06/201817/01/201918/01/201908/02/201915

Top Dividend Posts

Top Posts
Posted at 02/11/2022 18:00 by haywards26
I am not sure COC can be blamed for the current situation given it mainly revolves around BLVN partners and their specific links to Russia.

The additional malaise is also directly related to doing business in Africa and Covid impacts going back the last 2 years.

My only real criticism of COC would be the decision to pay out the dividend which in hindsight was an error given the now questionable funding position of BLVN.

Despite the negative full year results accounting statements re going concern, I still feel things will progress once the new partner is confirmed and in place.

Posted at 01/11/2022 16:53 by warbaby43
"Why are we paying the CEO 500k a year for this!"

Couldn't agree more Gark especially as this predicament underlines the sheer folly and reckless stupidity of that quite unnecessarily lavish dividend payment of $63m in February 2019.

Predicated on an FID in late 2019 or early 2020, that decision left BLVN with just $6.9m cash and $8.7m in investments with that folly now being visited on shareholders today.

What compounds matters is that Chahin loftily dismissed concerns when the issue was raised in Conference Calls.

Posted at 16/8/2022 15:53 by buy_more
i guess there are many people with cash on the sideline waiting how this etinde story will continue. and blvn owns 25% of it. btw, my price estimate is still the same as i have posted a few months back

hTtps://africanarguments.org/2022/08/liberte-egalite-impunite/

Posted at 02/8/2022 16:18 by warbaby43
What is intriguing is the consideration payable in respect of the NA transfer to Perenco. Very unlikely to be straight cash with the bulk rather more likely to be contingent payments at FID then first gas and then at production levels achieved at timed points.

One related question here, though, is what Etinde "owes" New Age and my guestimate here is upwards of $150m.

This calculation (netting off SNH's 20%) is based on Vitol paying $100m BLVN for a 20% stake back in June 2010 and that stake then being transferred, post the significant success of IM-5, to NA at some point between June and November 2013 and given that the oil price was still then at $100m+, it's a reasonable guess that NA would be unlikely to have paid Vitol less than $100m and very possibly rather more especially given Vitol's share of drilling costs for the IM-5 well

On top of what ever sum that might be, there is then the $20m+ paid in 2015 to top up the NA stake to 30% plus their share of of $55m for the IM-6 and IE-4 drilling programme and then their share of FEED and the seismic reprocessing costs. Then throw in the carrying costs of the money and their general Etinde related costs and that $150m might well be decidedly on the low side.

AS Keeper of the Royal Archives, I wonder if Gark can recall if there has ever been any hint of the price New Age might have paid to Vitol back in 2013?

Posted at 07/6/2022 07:56 by deanmatlazin
$25m back to BLVN.

The amount is almost double the size of BLVN market cap excluding potential of oil under the ground

Posted at 26/3/2022 11:16 by warbaby43
Pluses and minuses re Lukoil with their presence adding considerable clout to the JVP and their technical resources providing a major boost to engineering capabilities.

Cameroon and EG unlikely to be too bothered, "A far away country of which we know nothing" likely to be their attitude to events in Ukraine especially given the diplomatic, military and political presence Russia has built up in W Africa.

Sanctions are financial institutions related (and highly porous) rather than corporate and if Bioko is the route to be taken, then Marathon unlikely to be too sniffy if it makes economic sense to them especially as Lukoil only one of the four JVP partners with the lead being NA, the operator.

While precedent indicates that Chahin will choose to emphasize the negative, if the Results also happen to announce that it's to be a two field, IM and IE, development with the Bioko route chosen and sanctioned by SNH with discussions with Marathon begun, then that will be a huge stride towards FID and help put the Lukoil situation into perspective. In short, Lukoil's minority presence is unlikely to present an insurmountable obstacle to FID

One possible negative might come post FID if they wish to bid for the company but that situation is at least a year away and in any event with c 50 mboe of gas plus liquids, low Bioko development costs and consequent near term production and cash flow, BLVN are most unlikely to be short of suitors given the medium/long term outlook for o&g prices.

What would be nice though, especially given the number of questions that have built up and that there was no AGM opportunity for online back and forth, would be to hear a near term conference call announced.

Posted at 23/1/2022 11:45 by welshki
Winnet you weren't correct at all. First you didn't say a word against KH despite his disastrous time at the helm, in fact despite his almost fraudulent behaviour, you actually praised him. He destroyed the company way before COC were allowed to take over BLVN, and they did so precisely because of his awful leadership and how low he had driven the share price So is it any wonder no one listened to you when you're either a liar or a clown, most likely both. Then you were stating COC illegally "stole" the company, which of course was ludicrous. Then stated COC would just take all the cash BLVN had a ride of into the sunset. Then to prove how stupid that call was shortly after they paid everyone a dividend....lol. Yet COC are still here, no nefarious or illegal behaviour taking place as you claimed would happen, simply waiting for Cameroon, Lukoil and Newage to do their their thing. As you well know, KH made BLVN a one asset company, and we are where we are due to him, in fact we would probably be bankrupt if COC hadn't stepped in. You absolute tool.
Posted at 18/11/2021 20:05 by buy_more
it's only political now. but there seems to be progress and if EG is accepted by SNH then blvn will be worth a lot more then 150M as per my view. that would be an absolute bargain for marathon or others in EG
Posted at 12/11/2021 12:08 by warbaby43
Unfortunately, yet another BLVN RNS which appears to have been written by Private Fraser so keen does it appear to be to heighten and accentuate the negative. No surprise that it triggered a 30%+ share price drop.

While, no doubt, we will learn a great deal more when we get to read the AR next week, it was excellent news to learn of the full throated involvement of Lukoil in making the case to the government for Bioko processing and if the JVP can bring that off, it will be huge in so many ways.

By radically lowering the cost of development it will significantly increase the value of BLVN to any prospective purchaser and while probably increasing tax and royalties income to Cameroon, it will also radically reduce the back-in cost for SNH participation and enable the JVP to propose a generous package to bring SNH on board.

While employment considerations are plainly important for local political reasons the first stage of tendering for the new 350MW plant was recently completed and that should help entice major industrial players (Chinese?) to the region.

While a Victoria/Limbe two train development incorporating both IM and IE fields remains extant, it would certainly be most welcome if the Bioko alternative proceeded given the ongoing Ambazone political unrest which will certainly render financing more expensive given the likely risk premium required by any debt provider.

What we should also be able to look forward to is the revision of the resources assessment following the seismic reprocessing exercise and the IE thin bed report and, hopefully, if that isn't available by year end it should come in early 22.

Posted at 11/11/2021 09:17 by davemarn
BLVN could this be the bottom level?
Timely reminder

Angus Energy 0.90p
Positives
• Equipment should be arriving on site Nov 21 – Feb 22 proving this isn’t hot air!
• Permitting and Approvals expected early December 2021
• First time in 2 years a Project is about to become a reality early 2022
• Huge rise in Gas Prices (300-400%): 51% stake in onshore Saltfleeby Gas Asset
• 52% recent upgrade to NPV10 from a revised CPR of Gas Asset now £25.5m (£9m market cap)
• £12m fully funded for Saltfleeby
• Sidetrack to Gas Project Planning Permission in place to try and double output
• £1.4m Convertible Loan Note holdings extended deadline to April 2023 for final payment!
• 2x Director Buys of 1m each mid 2021
• £8m potential funding with Aleph and Associates for a valid Geothermal play
• 165m Warrants of £2.1m at 1.36p average potentially available
• 26m Employee Options at 1.5p but fully vesting at 2p too
Negatives
• A group of Locals persistently fester on UK Share Forums to stop any buying momentum, the success in market cap makes it harder to stop any of their projects dead in its tracks!
• A substantial undercurrent set of Short Sellers who seem to be betting against delivery and pre-gas price rally; now hurting and desperate to close out their positions – towards First Gas Q1-Q2 2022. Their short positions could create a dramatic squeeze to 2p alone IMO.
• Legacy Oil Assets and failed projects knocked share price and confidence of Long Term Holders
• Geothermal Progress Seems Slow
• Delays seem to bother some impatient traders but Aleph have stumped £12m loan!
Share Price Predictions?
• Harmonics showing 2-3.5p target?
• Management believes 3.5p per share is Fair Value vs. 0.90p share price
GLA WTFDIK DYOR

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