Bowleven Share Discussion Threads

[leedskier] 08/11/2016 09:34

by or buy?

[donpatrol] 08/11/2016 08:16

As I suspected, the cash burn is excessive. Agm can`t come soon enough

[wooster4] 08/11/2016 07:59

You do wonder what these highly paid executives do all day when everything seems out of their hands. I trust their golf handicaps have significantly improved.

[bigsi2] 08/11/2016 07:43

G&A clearly still to high-Not much to get excited about -

[begorrah88] 08/11/2016 07:08

Same old, same old thenKH spending cash and no real progress to be seen anywhere

[corrientes] 07/11/2016 15:15

ihavenoclue - Everyone is entitled to have their say,even if its a negative one, but some people seem to be extremely sensitive to anything that doesn't fit into how they view things.

[ihavenoclue] 07/11/2016 11:32

Corrientes... Bit thick aren't you? Theydon restart the buyback tomorrow. Always best to look at the full picture before making baseless statements of the share price dropping IMHO

[frazboy] 07/11/2016 10:00

As far as I'm aware they should have had about $110m on receiving the $15m from New Age. Their burn rate is $10m for G&A but that does not include other expenditure, but we've been led to believe there won't be much other expenditure (but I'm sure there will be some) - there may even be a refund for those overpriced wells they've drilled. We shall see tomorrow

[donpatrol] 07/11/2016 09:28

The main reason is I`d like to know the cash position now. Is it a case that they are burning through the cash for no reason?

[donpatrol] 07/11/2016 09:16

Still waiting, am I mistaken but were they not to publish accounts by now? Surely thy are not too busy with all the activity they are engaged in?
Oh sorry I forgot they are at sweet fa lately

[slipanchor3] 04/11/2016 21:43

We are waiting to see if we win the lottery tomorrow night so we can order the Enterprise Report

[tli8jaguar] 04/11/2016 15:52

Come on guys, what have I said!

[tli8jaguar] 03/11/2016 19:58

Why now?

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[pillow] 03/11/2016 16:16

Board of directors spotted at paint drying exhibition - bodes well.

[corrientes] 03/11/2016 11:20

This is just a bet on the cable at the moment, so BLVN could go a bit lower still.

[tli8jaguar] 03/11/2016 09:16

New Age gets a finance injection
30 AUGUST, 2016 BEN RIGBY
PRINT EMAIL
An oil and gas company with African aspirations has received USD 425 million in funding through a deal facilitated by international law firms Clyde & Co, Hogan Lovells, Herbert Smith Freehills, Ashurst and Squire Patton Boggs.
Given volatile times in the energy sector, the need for oil and gas companies to ensure secure sources of finance remains important; hence why, before the summer break, New Age (African Global Energy), a Jersey-registered, privately-owned, African-focused oil and gas company sought new financing from a consortium of five lenders, led by EIG Global Energy Partners and the Africa Finance Corporation (AFC).
New Age was represented by UK law firm Clyde & Co in securing a USD 425 million senior mezzanine loan facility. The proceeds of the secured loan facility will be used to further expand oil and gas production activities in several regions across Africa and the Middle East. It will also be used to develop new oil and gas fields in New Age’s portfolio.
The facility, provided by a consortium of five lenders, was led by EIG Global Energy Partners and the Africa Finance Corporation. The facility will be used to finance New Age’s offshore oil and gas fields in Republic of the Congo, Cameroon and Nigeria as well as a further oil field in Kurdistan.
The deal was led by Clyde & Co partner Mike Wachtel, assisted by legal director Hannah Doherty, associates Caroline Clapham and Isabelle Desgranges and junior lawyers, Mays Kadhim and Jeremy MacIver.
Steve Lowden, New Age’s chief executive, said he was pleased to have concluded the debt facility “with a group of highly respected lenders in a difficult market”, while Wachtel, commented in a statement that he was “delighted to have worked with New Age on this complex secured loan facility deal. It is a significant sum of money that will enable New Age to continue their impressive growth trajectory and boost production on existing fields”.
He added: “This transaction demonstrates that despite the global downturn in the oil price there is still investor appetite for attractive propositions with quality management and low cost assets in developing markets.”
Hogan Lovells represented both the principal lenders, EIG and AFC, thanks to the work of a team led by London infrastructure and energy partner Richard Tyler and counsel Nick Tidnam, with counsel Liam Naidoo acting on the compliance side
The Hogan Lovells team was supported by a cross-border team: from the London office, it included lawyers David Moss, Andy Gallagher, Mike Marston, Shelley Mottershead, Oliver Hamilton, Charlotte Hugman and Ed Wallis; Alex Cull assisted in Singapore; while Olivier Fille-Lambie and Alex Bebe Epale represented the client from the Paris office.
Commenting on the financing, Richard Tyler said in a statement: “This presented both a challenge and opportunity in the current market – new upstream oil and gas financings are relatively rare at the present moment due to the low oil price, and involve a variety of country-specific issues; however they present attractive commercial opportunities for specialist funds and lenders.”
“With our global reach and local knowledge we are well placed to advise on such transactions and look forward to the opportunity to build on our relationship with these two new clients EIG and AFC going forward.”
Speaking to the Nigerian business media, Andrew Alli, AFC’s president and chief executive, said that the deal represented good business despite volatility in the oil industry proving “challenging”. He said the current market provided “opportunities for long-term investors across the value chain”.
He added: “New Age has enjoyed considerable operational success in recent years across its pan- African portfolio and we would like to help them build on these foundations for the future.”
Herbert Smith Freehills represented one of the five lenders, regular client Vitol, with partner William Breeze acting on the deal alongside colleagues William Brennan and Nadine Kilpatrick, both senior associates.
Squire Patton Boggs and Ashurst also represented clients on the transaction but declined to comment.

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[ihavenoclue] 02/11/2016 21:29

tli8jaguar2 Nov '16 - 16:21 - 12666 of 12669 0 0
News drives prices, ah well, I guess we just have to wait a little bit longer.

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Pretty sure the buyback started doing that before the closed period which finishes next week

[carla1] 02/11/2016 20:45

LE CON....is currently writing his next jackanory set. To be revealed soon :-)

[symbo] 02/11/2016 20:29

Where is le com, asked him also re his views on xel little while back, I thought he was invested, no reply , more like le Marie celest!

[stansmith3] 02/11/2016 16:38

well in fairness - and i dont hold any currently - share price hasnt moved whilst poo tumbled

[tli8jaguar] 02/11/2016 16:21

News drives prices, ah well, I guess we just have to wait a little bit longer.