Bowleven Share Chat (BLVN)

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
	+0.00p	+0.00%	38.60p	38.50p	38.70p	-	-	-	0	06:30:09

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	0.0	-41.3	-13.1	-	126.13

Bowleven Share Discussion Threads

Showing 90301 to 90325 of 90325 messages

Chat Pages: 3613 3612 3611 3610 3609 3608 3607 3606 3605 3604 3603 3602 Older

Date	Subject	Author	Discuss
21/5/2018 17:53	Indeed they were & useless to boot. Let's not forget they hid the Bonomo results after paying a ridiculous amount of money for the drills.	uggy100	Read Full Thread Reply
21/5/2018 09:08	What a bunch of greedy swines the previous board were!!!	jordaggy	Read Full Thread Reply
21/5/2018 08:21	A reminder of what COC "put on their tin" Http://crownoceancapital.com/Open_Letter_to_BLVN_Shareholders.pdf	warbaby43	Read Full Thread Reply
17/5/2018 08:04	True but much lower risk with appraisal well when drilling a very similar geological formation to determine its extent.	loglorry1	Read Full Thread Reply
17/5/2018 07:56	Precedent, ie fighting Commerzbank through to the finish, would suggest that COC will stay the course with no sale of either company or Etinde asset until at least after drilling and testing completion. The risk, as always though, lies in the drilling, not just in the finding there what they hope/expect is there but in unanticipated equipment, geological or pressure problems.	warbaby43	Read Full Thread Reply
16/5/2018 22:23	Keeping the cash within BLVN important to get a good exit of course. If no cash to pay share of any subsequent development then bargaining position is weaker as forced seller or back to the market to raise. That's why cash remaining in blvn I suppose.	loglorry1	Read Full Thread Reply
16/5/2018 21:12	Since COC basically took control I have taken the view that any deal would be structured that the remaining cash at BLVN would in reality be outside any deal with a third party and ultimately returned to shareholders. I basically see it as a real positive not only for having a large % of the company covered by the significant cash position but also any interest simply would be in the asset itself - Etinde. Trying to value I think is simply too difficult currently and if COC were to enter into a transaction before appraisals I suspect it would need allowance of appraisal results. My gut feeling is the appraisal drills will happen first with COC controlling the situation, I doubt New Age or Lukoil would welcome a new third party - so the value to them might not be based on some traditional metric even though that seems pretty difficult to fathom ! There is always risk but those that know the story and endured the 2-3 years before COC arrived will hopefully reap the benefits of the clear strategy now set.	yasrub	Read Full Thread Reply
16/5/2018 20:42	With the FID payment there is $108m of cash or about 25p/shr. Cost recovery is worth something but hard to value that. So as I said downside well protected with two carried appraisal wells to add material upside. What's not to like?	loglorry1	Read Full Thread Reply
16/5/2018 20:16	In addition there is FID payment of $25m and on Page 21 of the BLVN BoD literature sent to us while fighting the take over from COC. MLHP-5 and MLHP-6 drilling 'Past exploration costs associated with blocks MLHP-5 and MLHP-6 form part of the cost pool retained by the joint venture for recovery against the potential developments on block MLHP-7'. Does anyone have an idea of the cost associated with the drilling and typically if this type of thing has a value which would make up any part of a deal?	benjimun	Read Full Thread Reply
16/5/2018 18:16	@Benjimun I'm sorry I have no idea. I guess you need to look at similar recent transactions if you can find any. 75p to a £1 looks a lot more realistic on the appraisal success case which is probably 70% CoS given its appraisal wells. It's very hard to say since FLNG is capex intensive and requires a good 1P number to risk large capex. Thus the bigger the reserves the bigger the economy of scale. Obviously there are outcomes in between eg 1.5TCF plus willingness of potential buyers etc etc. Even at this price it looks good risk return. Downside probably 30p. Upside £1 with say 60% chance. I'm sure some bull will be along to quote Cove at me they always do. Edit: obviously possible bid maybe at say 50p from other partners before appraisals or some sort of hybrid deal where a bit more is paid out on success in a bid. To be honest there are a lot of moving parts but I still see upside from here especially given the stupid valuations put on real dross out there right now.	loglorry1	Read Full Thread Reply
16/5/2018 18:01	Log, A further 2TCF(in addition to 1TCF already paid for)of gas would equate to a further 340m BOE, correct? At $5 a barrel that is $1.7billion, BLVNs 20% is worth $340m /326m shares= $1.04/75p per share. Add the condensate and existing cash and you can see why people would be looking to see fair value at £1+.? assuming that my assumptions are correct. If I recall at the time of the farm out, BLVN got $2 per BBOE. In your experience what would be a fair BBOE price at this stage of the project/post FID?	benjimun	Read Full Thread Reply
16/5/2018 15:39	That's gross revenue with no NPV discount, no capex, opex abandonment, risking and not taxed. Once reserves are proved up you could do a similar calc but not with $70 oil it would be more like $5 or similar and dito for gas. Don't forget CoC bought a lot of shares close to cash backing so not much risk. If appraisals go well here we'll see the share price rise a lot but I wouldn't pay too much attention to guff on LSE.	loglorry1	Read Full Thread Reply
16/5/2018 14:27	this was a question over on the lse site... maybe someone has an answer? :) Today 13:24 Price: 38.65 Jillykins 15 posts Selling Price Some of the valuations for what we might sell for seem a little on the low side. I realise when we sold to Lukoil oil was top dollar but KH had to do a deal as we had no money left so was bargaining from a weak position. Could anyone correct me on the following maths as I know I've taken a few guesses. If gas is worth $5 per thousand cubic feet, then three trillion cubic feet is worth 15 billion dollars. Our 25% share should be worth $3.75 billion. If we find 3 x the oil, then 3 x 95 million is 285 million barrels at say $70 a barrel. That is say $20 billion and our share would be $5 billion. So $8.75 billion ÷ 326 million shares = $26.84 per share. Even if it took 50% to get out of ground, it is still $13.42 per share? I realise we will get nothing like that but surely we should get more that 90 odd pence? Please feel free to correct me. I realise this is probably hugely flawed. I also cannot believe COC would risk the amount of money they have put in to triple their investment.	buy_more	Read Full Thread Reply
15/5/2018 16:11	No resistance all the way back to 75p	neilyb675	Read Full Thread Reply
15/5/2018 14:45	Unrelated but David Clarkson has joined Sound energy. hxxps://www.energyvoice.com/oilandgas/africa/171372/ex-bowleven-director-switches-to-sound-energy/	benjimun	Read Full Thread Reply
15/5/2018 14:15	Our luvs a good spud dus Iaa. Could be an exciting couple of months coming up! hopefully coc will keep us appraised of events...we need news flowing - like gas.	jordaggy	Read Full Thread Reply
15/5/2018 14:05	Not sure why spudding would cause a jump in the price. Leaking results of the drilling may do, but that is a while away.BTW, being a junior partner with no real control (the other companies are way bigger), I hope that samples and logging are available on an equal basis to BLVN as to the other partners.	fft	Read Full Thread Reply
15/5/2018 14:00	Spud is "end of May". This week is a bit premature I think.	loglorry1	Read Full Thread Reply
15/5/2018 13:58	Looks like we could hit 40p this week. Expect spud announcement is imminent :-)	hot_topic	Read Full Thread Reply
15/5/2018 09:57	I invested 5,000 into jmktrading and lost the lot.... just beware Frank!	targatarga	Read Full Thread Reply
15/5/2018 09:43	"If it seems too good to be true, it probably is" Only BLVN postings wanted here matey !!!	iamthedogman	Read Full Thread Reply
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15/5/2018 09:19	Could it be the 38p barrier is weakening..........OLIH	iamthedogman	Read Full Thread Reply
14/5/2018 17:40	If CoC were going to run off with the cash they'd have done so already and not bought more shares. Always a risk but not one we as minor shareholders can do much about. In any case I think the risk is very tiny.	loglorry1	Read Full Thread Reply
14/5/2018 17:26	"They are carried non-operating partners on Etinde and Bomono is worthless" - true loglorry1, but they are not the only assets, there is also custodianship of the $80+m to consider, which is why I would prefer a counterbalancing voice to COC's. However, I have backed Herr Stoyanov & Co from the off and continue to do so in the belief that they will pretty broadly do what they put on their tin and one of the principal reasons for that is precedent. As I posted above, the smearing and scare stories only had traction because nowt was known about them but success for them and the rest of us with BLVN and just think of how many other companies there are with self-serving, self-indulgent BoDs that are ripe for the plucking and how much easier it will then be for COC next time.	warbaby43	Read Full Thread Reply

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