Bowleven Share Discussion Threads

[obmuj] 06/3/2017 14:27

COC up to 17.58% now I see. They mean business.

[cyan] 06/3/2017 14:27

Hi loglorry. Wash your mouth out with soap,lol. I wanted a third option.

Anyway, COC have moved their average higher with that 1st March deal. They can't stop now. I think the millions sold today have also gone their way.

[wshak] 06/3/2017 14:26

le_comm,


"I will credit Hart with extra massive kahunas if he is about to do what i think he is.
It will only delay COC and not prevent the end result."

Given that he can only delay, and not prevent, the inevitable, why would you credit Hart with extra kahunas? Surely hes just (once again) spending BLVN cash unnecessarily? Wouldn't such a pointless legal move just emphasise why he has to go?

[cyan] 06/3/2017 14:22

In for the kill!

[loglorry1] 06/3/2017 14:22

>At least Malcy is excited about the deal. I want what he's on!
And I thought you were already on a retainer with Bowleven @cyan :-)

[le_commissaire] 06/3/2017 14:19

Warbaby

This is exactly what i had thoughts of when the 793 requests where issued.

le_commissaire - 28 Feb 2017 - 15:31:42 - 14874 of 15104

Blocking stock is not a very clean way of preventing an aggressor and normally results in a hasty court order provision.

I will credit Hart with extra massive kahunas if he is about to do what i think he is.
It will only delay COC and not prevent the end result.

[cyan] 06/3/2017 14:10

At least Malcy is excited about the deal. I want what he's on!

[larry laffer] 06/3/2017 14:01

In what way should KH have monetised this asset to realise some value for LTH's.

They don't seem too interested in developing it any further and VOG have first mover advantage with their infrastructure already in place.

I can't see how BLVN can do much with it. However I can see how attractive it is to VOG, and its a relatively small outlay for some reasonable upside to them. Shoot another load of 3D Seismic to find the deeper targets and get the drill going.

[roberto mancini] 06/3/2017 14:00

Winnet, you said

winnet 6 Mar '17 - 13:45 - 15100 of 15102
"I hope that is not not COC buying".

Why remove your post?

[wshak] 06/3/2017 14:00

I suspect that the "operator" issue is for PR purposes only, aided by a friendly VOG management who are keen to support BLVN. Why wouldn't they be, when they have a partner who is willing to spend so much of their shareholders' cash, only to then sell out at a fraction of the money spent? I'd be very keen to have a partner like that too, and would do everything I could to help them transfer value from their shareholders to my own.

A 20% holder who acts as operator is nonsense, in reality. All VOG have to do to change that is insist, as the majority holder, that they become operator. That's it.

Being operator, at least until VOG decide otherwise, allows BLVN management to give the impression that they have a value, and so should be retained. I believe this another case of smoke and mirrors at BLVN.

No change there, then.

[belo horizonte] 06/3/2017 13:43

Well it looks like Hart was well and truly Foo-ked. The change in stock prices is the clearest indicator of what investors think of the deal. Odd that BLVN remains the operator despite reducing to 20%. Will it receive a management fee? Doubt it knowing how slap dash Hart has been in the past. Free ride on future investment in the field? Don't even think about it. VOG have a back-out clause in the case of a board change but BLVN don't? Reminds me of the advert "Kevan what have you done? Whoops I've done it again".
All that said, I for one didn't attribute much value to Bomono, so the instrinsic value is still there. I will continue buying. As Warren Buffett says, the time to buy is when others are afraid. Though I do admit,unless Hart goes, I will start to get afraid myself.

[gark] 06/3/2017 13:42

Wow, 14mn! That suggests confidence!

[iamthedogman] 06/3/2017 13:40

Huuuuuuuuuuuuuge Buy just gone through...........wonder who it can be ??

Suspect it may have been done at 34p

Wonder how long that deal took to fill ??

[maurillac] 06/3/2017 13:38

long suffering s/h here. all i will say is you could not make it up. todays rns is risible .. hart & co should be investigated by the fraud squad imho
m

[nick rubens] 06/3/2017 13:36

That should sway any shareholders on the fence to vote them out, in favour of COC's resolutions on the 14th March.

[cyan] 06/3/2017 13:24

Thanks hazydaisy.

An interesting slant on VOG and BLVN within.

Extract;

"With around $100m of cash on the balance sheet, as well as value tied up in two large oil assets against a market cap of £103m, BowLeven’s upside could be significant if the activist succeeds in unlocking value.

Growing rapidly
Meanwhile, Victoria is quickly becoming one of London’s most attractive growth stocks thanks to the size of the potential market available to the company within Africa. Victoria has already proven that the company has what it takes to build gas distribution and production business. Sales hit a record in January and the deal with BowLeven should only accelerate growth.

Overall, these two companies look have all the hallmarks of successful AIM businesses."

[hazydaisy] 06/3/2017 12:36

Kevin Foo on the deal

[fluffy_dog] 06/3/2017 12:29

Intrigued with the RNS. Bomono will satisfy SNH demand for domestic gas so will the Govt now go with the ENG gas for Etinde?

[cyan] 06/3/2017 12:24

Well, someone's picking up the sells. Must like the prospects of that 50p plus carve up.

[warbaby43] 06/3/2017 12:23

Seems that COC are anticipating more death throe thrashing about from Billy.

[donpatrol] 06/3/2017 12:13

Whatever way you look at this deal it's a terrible one for Bowleven. They are handing over assets that they have spent an absolute fortune between seismic and exploration for next to nothing.It looks like the bod are out to asset strip as much as COC are. Either way the pi here is getting a royal screwing.If oil heads below $50 again this will fall as low as the mid teens.

[cyman] 06/3/2017 12:11

Hernando I will be joining you when I get out of this mess!!!!!!!!!!!!

[alamaison] 06/3/2017 11:54

Death warrant for KH, good!