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
  +1.00p +3.48% 29.75p 29.50p 30.00p 29.75p 28.75p 29.25p 629,283 09:10:35
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -97.3 -29.3 - 96.54

Bowleven Share Discussion Threads

Showing 89651 to 89673 of 89675 messages
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DateSubjectAuthorDiscuss
20/8/2017
12:46
OK, gonna be interesting, to say the least to see what unfolds and how it unfolds. Meanwhile, I wonder if Our Matt will be buying some shares and, if so, how many. I still note that, contrary to his previous NED practice, Old Joe has still to buy some.
warbaby43
20/8/2017
10:53
I see the new appointment as the necessary multi-skilled expertise required to divest ourselves of BOMONO and ensure the ETINDE sale proceeds efficiently. I do not read anything else into that appointment. We may see BOMONO go before xmas. ETINDE is a longer game.
cyan
20/8/2017
09:12
I think we will get m&a activity before the end of the year. This will be done and dusted before December. That explains the recent hire. My view is Bomono gets resolved, govt approve Etinde and then BLVN gets bought out.
gark
20/8/2017
07:06
Agreed, and that an envisioned course devoutly to be wished and all pretty straightforward, so why then, do you think, the expanded capacity for fancy financial engineering implicit in the presence of all this restructuring expertise?
warbaby43
19/8/2017
10:54
We have to consider the timing of the appraisal drills and the analysis of the results. When will they drill ? . Hopefully H1 2018. We can not 'cash out' until we have those results. To sell pre-drill would be a bit like cutting our own throat and missing out on the POTENTIAL huge upside to that 80p number . Then you have the haggling and legals to consider. I may be a bit optimistic with a 12 months time-scale
cyan
19/8/2017
10:25
The way things are developing I suspect we will reach a conclusion by the end of the year.
gark
19/8/2017
10:08
The appraisal drills are key to valuation and possibly a greater pay day. I agree gark; we get rid of Bomono next. Then its basically wind up BLVN by selling off our last remaining asset , ETINDE. We would get a vote in such a case. I suppose the shell company has some value as getting AIM listings is more challenging than it used to be. The name BOWLEVEN may go on. 50-80p should be the range of the final payout ,imo. Possibly a bit more, depends on how good the drills are. Timescale to pay day could be 12 months if things go well.
cyan
18/8/2017
18:03
Think we get Bomono spun out, Etinde announced and then BLVN get bought out for 50p or more and hopefully more like 80p which is where the valuation should be.
gark
18/8/2017
17:25
Lots of restructuring expertise now on the board with that also being Chahin's background with Alix partners. What does it portend we wonder.
warbaby43
18/8/2017
15:02
This is being held at this level. Looks like something happening soon.
gark
18/8/2017
13:24
Agreed Gark, hold onto your shares :)
haywards26
18/8/2017
13:09
M&A lawyer appointed. Things are about to get very interesting IMO.
gark
18/8/2017
10:34
Who do we know who held lots of shares but who is out of a job now? Maybe its KH. Has he got a new job yet? Those horses are not a cheap hobby. Who knows?
cyan
18/8/2017
10:10
Real battle going on here between a determined seller and ongoing buying. Should clear soon I hope.
gark
18/8/2017
09:37
We an update from the partners. An RNS confirming the reported agreements should be issued. Not enough communication with shareholders.
cyan
14/8/2017
15:27
hxxps://www.prc.cm/en/multimedia/photo-albums/239-cameroon-norwegian-and-chinese-energy-investors-to-create-800-000-new-jobs
ramayer
14/8/2017
07:59
"Our only issue is whether COC are happy to wait or have the financial reserves to wait until appraisal" Doing what they put on their tin makes far more money for COC than any other course and in their world three/four years would certainly qualify as "short term." Also worth recalling that they pursued, over four years or so, their Eurohypo legal battle with Commerzbank to ensure maximum gain out of that while resisting, no doubt, offers to settle out of court.
warbaby43
13/8/2017
11:46
I think, from memory , that they stated we will get a vote under AIM rule 15. The upside is so very large that I do not see them wanting to sell pre drill. We are getting much closer to those drills. BLVN has tons of cash so there is absolutely no issue regarding waiting until our $40 million worth of FREE FULLY CARRIED appraisal drilling is completed. So much cash in fact that some have hoped for a special dividend before now. The next 12 months could be rather exciting and for BLVN holders, imo, largely risk free.
cyan
13/8/2017
10:55
Our only issue is whether COC are happy to wait or have the financial reserves to wait until appraisal. The prize will undoubtedly be larger after appraisal BUT they may well be offered a pre appraisal deal which gives them a good return on their investment and still earns them a few million. As they will have triggered the 30% barrier, we unfortunately will not have a vote on how they proceed. Basically, we will probably have no choice on what the eventual sale price may be, if it ends up as good for COC then we will be forced to accept it as the best deal we can get if they are unable to stay the distance.
symbo
12/8/2017
14:36
In January 2017 Bowleven wrote; hTTp://www.bowleven.com/system/files/press/bowleven-group-operational-update-january-2017.pdf Etinde contains sufficient existing discovered resources to support one initial offtake solution. In addition, appraisal drilling is targeting un-risked P90 in-place volumes of up to 2 tcf of gas and associated liquids which, in the event of successful drilling, creates scope for multiple offtake solutions for Etinde. ====================================================================== In march 2016 EDISON wrote this; "Bowleven holds a 20% interest in the Etinde permit MHLP-7, which contains net contingent P50 resources of 58mmboe (gross contingent resources of 290mmboe). " and; "Upside of net prospective resources could add >200mmboe in time Analysis of the data has shown further prospects at the same Intra Isongo interval, while the results of testing at a similar interval at IE-3 tested oil and condensate. Bowleven’s estimates of volumes in place are 1-2tcf (167-333mmboe) at P90 confidence. If we assume a 70% recovery factor for gas this would imply 115-230mmboe. On rough rules of thumb, P50 could be 3x larger than this, equating to 345-690mmboe. Associated liquids will likely add further. We expect wells to be spudded in late 2016/early 2017, but timing remains uncertain, given that Bowleven is no longer the operator and the oil price environment has added material uncertainly. The FID will likely be taken six to nine months after the appraisal wells, so we expect it to be in mid-/late 2017." hTTp://www.bowleven.com/sites/default/files/attachments/pdf/bowleven-outlook-march-2016.PDF +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Reading these comments shows just how important the appraisal drills are and the huge upside POTENTIAL there is. If all goes well our return on a sale of ETINDE will be that much greater. The comments also goes to show our downside ; snails pace progress.
cyan
11/8/2017
15:02
And on exit possibilities the Open Letter stated "It will be the responsibility of the proposed new Board members to determine the most beneficial,value maximising route for Etinde - be it accornpanying the development until full production, or adisposal along the way, upon the achievement of certain milestones (appraisal drills, FID, firstproduction). This objective can only be achieved through a constructive dialogue with and suppoftof the JV operator as well as the other partners. Shareholders should be fully aware that a potential future disposal of Bowleven's stake in Etindewould be conditional on shareholder approval pursuant to AIM rule 15. With Bowleven becoming an efficient, one-asset company with available tax losses to shelter future taxable income, we view it as a likely scenario that the final monetisation of Etinde would take placein the form of a corporate transaction, i.e. an offer to all shareholders by a third party. For the avoidance of doubt, we have neither been approached by any third party about their intention to make a bid for the Company nor have there been any discussions with third parties about apotential sale of Bowleven's interest in Etinde. We however believe that a cleaned-up and focused business should become a highty attractive acquisition target in the future."
warbaby43
11/8/2017
14:52
With regard to COC's preferences on cash return, recourse to their Open Letter of 17th February seems appropriate: "Return of Excess Cash: Any cash that a prudent Board deems not required to progressthe Etinde project shoutd be returned to shareholders in a tax-efficient manner, e'g' viashare tenders. This is in contrast to the share buy-back structure initiated by Bowleven inAugust 2016 motivated, in our view, primarily by the Board's self-interest to fend off itslargest and accountability-demanding shareholder from increasing its slake' For theavoidance of doubt, as the single largest shareholder we would at no point support a returnof capital that would put the progruri, development or negotiation position of Etinde at risk" And "D, Return of Excess Cash in a Tax-Efficient Manner We believe, Bowleven should return any "excess" cash to shareholders in a tax-efficient manner. forexample non-manipulative share buy-backs in the form of tender offers.it should be noted that it will be the sole responsibility of the new Board of Directors to optimise theCompany's balance sheet and recommend the route and amount of "excess" cash based on theirdetailed analysis and respecting their duties to safeguard the Company and its assets. Any measure {e.9. the aforementioned tencier offer) recommended by the Board would be subject to shareholder approval. For the avoidance of doubt, as the single largest shareholder we would at no point suppoft a returnof capital that would put the progress, development or negotiation position of Etinde at risk."
warbaby43
11/8/2017
13:52
The numbers on ETINDE costs are opaque. I agree that the sale of ETINDE will be soon after the appraisals results are known. Possible time to sale 12 months minimum , imo. They could sell before but that would be at a discount to what most believe the asset will ultimately be proved worth. The EDISON report with its overall valuation of 52p is minus that potential very large upside .
cyan
Chat Pages: 3587  3586  3585  3584  3583  3582  3581  3580  3579  3578  3577  3576  Older
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