Bowleven Share Chat (BLVN)

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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	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+0.08p	+0.48%	16.90p	16.56p	16.74p	16.98p	16.56p	16.98p	257,107	16:35:17

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	0.0	-5.3	-1.5	-	56.66

Bowleven Share Discussion Threads

Showing 91351 to 91373 of 91375 messages

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Date	Subject	Author	Discuss
22/2/2019 15:05	Basti, no doubt in any sale situation, coc will expect all contractual payments to be accrued and included for as they are real payments that are required. However, expect any decent buyer to barter their way out or at least discount the same unless of course what they find is an absolute diamond which they desperately want to have for themselves, in which case they may pay a premium. As with any negotiation that has a solid purchaser and buyer it only works if both parties are happy. Let’s hope the tug of war is already complete and we are only just waiting in the wings. If not coc might be asking for that £50mill back as liquid assets. I cannot believe for one minute that anyone sane would give back that dividend without having already agreed a bullet proof forward plan. The problem here is, if they have then that is market info which should be rns’d and we’ve heard nothing, perhaps it’s signed but contingent on fid, that’s why nobody told. You always expect a leak and I bought 50k shares yesterday no problem, so I really don’t know what’s happening here.Either way I think fid , as with all projects unlocks everything , so let’s all sit on our hands for a good while longer.	symbo1	Read Full Thread Reply
19/2/2019 00:28	What happens at Fid regarding the last tranche of funds?Is it paid regardless of wether they proceed and if so is there a cut off date for fid?	basti1302	Read Full Thread Reply
15/2/2019 13:29	If you look within the last presentation , the actual appraisal results proper will not be ready until end of this year!!	symbo1	Read Full Thread Reply
14/2/2019 10:25	Meant to be q1 so assume March	gark	Read Full Thread Reply
14/2/2019 09:44	does anyone have an idea when the management will inform us about the detailed appraisal test results?	buy_more	Read Full Thread Reply
08/2/2019 15:46	II have it showing but not 'settled' so I can't actually do anything with it yet.	oilretire	Read Full Thread Reply
08/2/2019 15:28	gark, Barclays indicated this morning that the payment would be made today while just now are saying that it will be paid in the next few days. My A J Bell SIPP account is already showing the dividend payment received. Like you, I will be closing my Barclays accounts.	warbaby43	Read Full Thread Reply
08/2/2019 15:16	aj bell sipp deal	symbo	Read Full Thread Reply
08/2/2019 11:28	Barclays telling me they have 10 business days to pay into my account. Really rubbish given they charge custody too. Will be closing the account.	gark	Read Full Thread Reply
08/2/2019 10:04	Yes ..............with Interactive Investor	iamthedogman	Read Full Thread Reply
08/2/2019 10:02	Haven't yet (Halifax Sharedealing).	invest ted	Read Full Thread Reply
08/2/2019 10:01	I am with Barclays and haven't received anything.	gark	Read Full Thread Reply
08/2/2019 09:53	Yes - received.	hot_topic	Read Full Thread Reply
08/2/2019 09:50	Has anyone received payment of dividend yet?	gark	Read Full Thread Reply
06/2/2019 20:24	Pressure too high to reinject the gas I was told by Hart back in the day. Also Cameroon Gov want gas used but won't fund any projects to use it eg power generation or fertilizer. FLNG or a pipeline to FLNG seems the best hope.	loglorry1	Read Full Thread Reply
06/2/2019 16:46	secs - looking at Noble’s website, the Alen field is across the maritime border in Equitorial Guinea. It certainly isn’t connected to IM as it’s some way north. Does anyone have any information that shows it’s analogous to Etinde, e.g. CGR figures (condensate gas ratio). Gas re-injection schemes work when the condensate yield is high, after a period of liquid production the next step is to re-produce the gas — it’s just the most recovery efficient way of doing it, liquids first then the gas, and is good reservoir management. But it’s a higher cost upfront with injection wells, and gas compression installation. But if the cost recovery PSC terms are set up right to encourage maximum resource recovery then it will economic sense..does anyone know if a Cameroon PSC terms would favour this? Given the government position it would suggest not?	rm137	Read Full Thread Reply
06/2/2019 16:15	Whatever the deal or whoever it's with, lets hope it completes in 2019	oilretire	Read Full Thread Reply
06/2/2019 16:08	"the only buyer is NewAge..." not lukoil? there are other possibilities surely but agree that only 1 or 2 real strong runners at the moment and it only takes 2 to start a bidding war, ha! i remember COVE Energy back in 2010 i think. i recall it was a thai company and shell bidding, the share price was about 60p before the first bid and then went to shell about 240p in the end. not saying i expect that here as times were very different now to back then.......but a boy can dream! either way if new age want something bad enough they have to pay fairly, assigning some value to 2p reserves is standard i would find it quite surprising if COC have provisionally (which i believe they have) signed a deal with no value on 2p numbers......	welshki	Read Full Thread Reply
06/2/2019 15:35	Noble Energy on Alen field next door, analogous but smaller than IM and may be connected to it, they are re-injecting the gas to get the liquids which are the value, kind on undermines what you are saying?	secs in the city	Read Full Thread Reply
06/2/2019 15:02	welshki, it depends if you’re buying or selling or borrowing, and ultimately on how strong your negotiating position is. In this case, the only buyer is NewAge....	rm137	Read Full Thread Reply
06/2/2019 14:47	surely the 2P numbers will have some value attributed to them? back in the day just basic OIP used to have a value, how times have changed.......	welshki	Read Full Thread Reply
06/2/2019 08:56	warbaby43, I always follow you posts with interest, but I’d like to respectfully challenge your observation that it is “the liquids not the gas” that should be considered as the primary source of income. In practice, any project needs to generate value from all sources and for Etinde this means gas, LPGs and liquids. Giving away the gas at a break-even, or even loss leading price, simply to produce the liquids erodes value. The primary reliable hydrocarbon stream is gas.. if the project doesn’t make a return from the gas stream, it is squandering the value from it’s most reliable source. Given the scant appraisal from limited well tests, there is considerable uncertainty in the liquids production stream, which is highly dependent on the condensate yield as the reservoir pressure drops. If the field is produced too quickly from limited volumes — which can happen if going for a reduced well count coupled with reservoir complexity, baffling or compartmentalisation that is evident in the IE accumulations, then the drop in reservoir pressure will result in the liquids dropping out in the reservoir. WHen this happens, the contrasting mobility between gas and liquids in the reservoir can lead to condensate banking around wells, which both restricts the liquids production and ultimately the gas production. In short, the liquids production is substantially less certain in these reservoir types, and any development decision taken without a proper understanding of this risk will likely lead to a poor outcome. Of course none of this would be relevant to Bowleven if the intention is to sell as soon as FID is reached... but it will be relevant to whoever buys the Bowleven share. This will show up in the assessment of 1P Reserves on sanction, which in these instances is often a lot less than the 2P estimates. Since it will be the 1P estimates that any prospective acquirer will pay for, the value of Etinde is very much reduced by any approach that simply concentrates on the liquids.. which for Bowleven will show up in the share price. In contrast, if a gas sales contract is established for a demonstrable delivery to lets say a 200MW power station, or similar, then the Reserves position is underpinned by that contract. ANd the liquids follow on top. The resultant 1P valuation will be more robust and the valuation of Bowleven similarly more robust. In a nutshell, the source of value of Etinde is establishing a robust gas sales contract; only then can the Reserves be booked.	rm137	Read Full Thread Reply
04/2/2019 15:45	New Age are the drivers and operators here and while it is possible that FID might be postponed pending further drilling to seek out more gas for FLNG, it is far more likely that they will do all they can to get to FID and cash generation to fund Etinde development and further drilling. New Age are often spoken of as though they are some sort of major or semi major but they ain't and are a very long way from being so. They may be a few notches up the oilie food chain from BLVN but while majors deal in billions, it was seen as a real big deal just a few years back when they raised $500m. Moreover, they have multiple assets to keep financed across multiple countries so they will want cash generation from Etinde just as soon as they can get it. Also worth keeping in mind that it is the liquids and not the gas that is seen as the primary source of such cash and while FLNG now looks distinctly unlikely they do appear to have alternative destinations in play to dispose of the gas and do appear to have some confidence that one or other of those can be successfully pursued. In this regard, well worth re-visiting the AGM presentation p20-22: Http://www.bowleven.com/system/files/uploads/financialdocs/agm-presentation-2018_0.pdf (p11 also interesting on likely news timetabling) I'll also exercise again the bee in my bonnet on FLNG which while being long odds with bookies I do not regard as being stone dead at this stage. It all depends still on the Cameroon government who made such a song and dance on the FLNG project last June. At present of Etinde's 1.1tcf (pending upgrade), 500bcf/70mmcfd has to be set aside for their still no more than hypothetical 300MW power plant project but if they choose to opt to set aside and postpone that 500bcf requirement for an agreed number of years, they might be able to get that FLNG project, on which they are so keen, under way - just!	warbaby43	Read Full Thread Reply

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