Bowleven Share Discussion Threads

[tli8jaguar] 02/10/2016 10:05

Thanks GoodGrief, I know that one.

[goodgrief] 02/10/2016 09:33

New Age IPO news, article about fortnight old.

[fireplace22] 02/10/2016 09:16

not a subscriber jag sorry.

[tli8jaguar] 02/10/2016 09:15

Fireplace, can you copy and paste on here? Thanks.

[fireplace22] 02/10/2016 08:43

jag the page came up ok for me but you need to be a FT subscriber to access.

[tli8jaguar] 02/10/2016 07:11

Leoneobull, the webpage came up error, can you copy and paste on here? Many thanks.

[leoneobull] 02/10/2016 04:03

https://www.ft.com/content/51067150-77ff-11e6-a0c6-39e2633162d5New age

[kryptonsnake] 01/10/2016 12:29

Yeah I can't see them pulling out with all the money they have already stumped up. It'd probably be cheaper for them to buy Bowleven!

[tli8jaguar] 01/10/2016 11:42

Thanks, I think if Lukoil wanted to pull out, they would have done it by now.

[kryptonsnake] 01/10/2016 10:54

Just had a look, it must be UK as it states Feb 2016

[tli8jaguar] 01/10/2016 10:47

Kryptonsnake, is the date of the article in US format or UK format?

[kryptonsnake] 01/10/2016 10:41

Could be old news but here goes...

Source: africaintelligence.com

09/02/2016
Lukoil pulls out once and for all


Russia’s Lukoil group has made a final decision to quit Ivory Coast’s offshore despite pleas by the country’s government to stay put. Ivory Coast’s oil and energy minister Adama Toungara and his loyal lieutenant, Ibrahima Diaby, managing director of state-owned Petroci, did their utmost to retain Lukoil, the most active Russian oil company in Africa. They even proposed an extension of the duration of contracts for new work. To no avail.

According to our sources, Lukoil’s management was pessimistic about the prospects of long and costly surveys the firm would have had to make on its CI-401, CI-205 and CI-504 blocks in the offshore. It has made no significant discovery since it ventured into Ivory Coast in 2006.

Leonid Fedun, vice president of the firm who headed up Lukoil’s campaign, is due to arrive shortly in Abidjan to meet with the Ivoirian authorities and try to smooth matters over.

In Ghana, Lukoil already took the initiative by relinquishing its Cape Three Points Deep Water permit in 2015. Its wells on the block had proved interesting but not enough so to warrant a development.

Hit by the drop in the oil price, Lukoil has decided to retain its interests only in Egypt and Cameroon. But its presence in Cameroon also hangs in the balance even though it has received a green light to develop its Etinde license.

[slipanchor3] 30/9/2016 18:39

We will just have to accept the fact that two RNSs that contradict each other, is just another
BOW error of judgement. Thats putting it mildly.

[grahambr] 30/9/2016 17:57

Another 69 thousand quids worth of shares issued .Its like quantitative easing !

[tli8jaguar] 30/9/2016 16:04

BigSi,

Also see interim result in March 16

[bigsi2] 30/9/2016 09:41

BLVN RECEIVABLES: An estimated $5 million cash to follow for working capital; -- Up to $40 million (net) carry for two Etinde appraisal wells, including testing; -- $15 million cash to be received on completion of appraisal drilling; and -- $25 million cash contingent upon and to be received at Etinde development project FID. Did I miss Etinde appraisal for the $15m ???

[svenice7] 30/9/2016 08:51

Have we switched from oil and gas to be arms dealing? There is no recent correlation with gas prices at all.

[fireplace22] 30/9/2016 08:38

Lukoil on the last minute with the first payment, so suspect we'll receive later today and RNS Monday?

[slipanchor3] 30/9/2016 08:35

Where is our $15m?,or is it part of the negotiations going on behind the scenes.

[leedskier] 29/9/2016 15:50

I see Plus500 announced it was increasing its Tier 1 Capital by £100 million today.

That means it will have probably more Tier 1 Capital than half the MM on the books of most Aim oil & gas companies, assuming they pooled all their capital.

When London MM each have more than a £100 million of risk capital on their Pillar returns we may see the level of cash needed to support the Aim market.

Assuming that does not happen, I fear for the recovery of Aim shares to anything approaching fair value, irrespective of the recovery in the price of oil or in this case, gas.

[fluffy_dog] 29/9/2016 09:47

I agree re Bomono. Etinde is the prize we are all here for. Lukoil know that Etinde is potentially huge (13 out of the 15 prospecting and appraisal wells drilled at the site have given positive results) so it is just a matter of time. The JV may well agree the budget but we want a commitment as to potential spud dates etc. I am still hopeful we will acquire an accretive asset before the AGM and of course we will soon have the £15m cash. It is like watching paint dry but we are so well placed amongst our peers going forward out of this downturn.

[slipanchor3] 29/9/2016 09:17

griff
I remember your post re the buy back question and i think his answer was something like buy backs don't work.
If buy backs don't work why has he taken that route?, is it a defensive measure to try and out flank C.O.or was it a panic measure. Whatever it was he got his timing completely wrong.
Re Bomono, my expectation aren't that high,it was a complete disaster from the word go, If it turns out to be viable, i will consider it a bonus, so long as we don't have another Sapele on our hands.