Bowleven Share Discussion Threads

[belo horizonte] 04/4/2017 14:38

They will do as they said they would do "return excess cash to shareholders". Question is how much and how. The most tax efficient is a share buy back but since they stymied the previous effort by Hart, it looks like they are considering a special dividend. Assuming they keep around $50M until future needs are more clear, that would work out at around 10p per share as the first dividend.

[benjimun] 04/4/2017 11:25

Okay COC, I'm listening!
Your cancellation of the strategic review means you either have a done deal in the the pipeline or happy to wait till Appraisal.(That was my goal, I am happy to hold for another 2 years if required)

What we need to see from you is a share holder meeting where retails investors can meet the new board as you appoint them and flesh out your plans.
It will interesting to see if you make public any 'interesing findings' after examining the books.

I do not want any cash returned to shareholders as I would prefer the company be sold as whole and of course the suspicion is that COC get more cash than the their share holding is worth. So you have to build trust.

Be highly transparent in your dealings and effective and regular comms is a must.

Fingers crossed you are what you say you are.

[runwaypaul] 04/4/2017 07:29

well that was quick.would have thought price drop atb

[5chipper] 03/4/2017 18:54

Why has Eli Chahin been appointed 'acting' ceo?

Either they are intending on bringing someone else in as permanemt ceo or it will only be for a short period of time...

[gark] 03/4/2017 18:47

Chunky buys today. Flushing out last few sales before next leg up?

[gark] 03/4/2017 15:27

COC still buying. Last lot at 36p.

[warbaby43] 03/4/2017 07:47

A Brit O&G establishment appointment that says, "There, there - calm down, dears"

[tli8jaguar] 03/4/2017 07:45

Will el suceed where Hart failed, to have a dialogue with Stevie boy?

[fft] 03/4/2017 07:27

Seems like a useful NED appointment. COC gameplan should be in full swing now. Will they stick with the strategic review or vary it to investigate how bomono drained so much cash from the company ?

[cyan] 02/4/2017 13:47

IMO there are two possible scenarios; ETINDE is not sold until after the appraisals, or, there is an early tempting large cash offer for take-out.

If there is any excess cash payout before either scenario , I would expect it to be modest.

[fatnacker] 02/4/2017 13:28

No, I think some of the £90million will be handed out, some will need to be retained to keep the company afloat and some might already be committed or provisioned.

[tli8jaguar] 02/4/2017 11:30

Fatnacker, do you think £90m on it's way to Monaco?

[tli8jaguar] 02/4/2017 11:27

Warbaby, you sounded like Kevin Hart.....?????

[fatnacker] 02/4/2017 09:10

you think £90million will be returned to shareholders cyman?

[cyman] 02/4/2017 01:44

You are all presuming that coc can only benefit from the share price and their holding. Overlooking the huge possibility that they stand to gain in other ways. Yes it is conjecture but they will not have embarked on this purely because etinde has potential they may well have other interested parties who happen to be close knit. Also if there is a payout of the 90mil then that should shave 18p off the share price instantly leaving us with our share of etinde which on a reasonable sale price would be?

[gark] 01/4/2017 17:51

That is correct.

[warbaby43] 01/4/2017 15:56

Difficult to see Etinde not being drilled again by 2020 and/or a path to gas monetisation determined, and with success on those fronts likely to produce an share price well in excess of 60 or 70p and the relatively short timescale, why would COC not be perfectly content to wait for that mega payday.

They were certainly prepared to bide their time with Eurohypo so with 75m shares why not here too?

PS Can't find the reference but have I not seen it written that BLVN would be entitled to that $40m in cash if the two appraisal wells haven't been drilled by June 2020?

[thegrumpster] 01/4/2017 14:49

"....Take out gains tax, risk etc I would be looking for at least 60 or even 70 if my average was 30. Could lose 20% on tax alone...."


Low or no tax in Monaco in many cases.

[cyan] 01/4/2017 11:16

A 40p take-out would be FAR too low. I thought we had , in the main, agreed that 50p plus was the minimum.

The road ahead is much clearer and I am going to hold what I have till the pay day.

[symbo] 01/4/2017 08:26

If I bought at30 and sold at 40 and I was coc I would not view that as s result on face value for the risk I had just taken even though it represents 30% uplift. Take out gains tax, risk etc I would be looking for at least 60 or even 70 if my average was 30. Could lose 20% on tax alone and even then it's stuck in the company

[warbaby43] 01/4/2017 07:44

The implication of COC still buying at 36p could be viewed as encouraging, but my guess would be that their average is still no more than 30p, given that the majority of their holding would have been bought below that level with plenty of those in the early twenties.

[cyman] 31/3/2017 22:48

Kbrook yes I have not sold anything here in the past month. Had a few hairy moments and thought that I would regret not selling but oddly am starting to feel a little more at ease. Hope it is the right feel. Market seems optimistic about the new boys and I am wondering if 40 is an achievable reality. With no firesale it could be and perhaps a decent lawyer can unravel the bomono fiasco and cancel this seemingly insane sale to vog. If anyone knows a lawyer up to the job do tell the Monaco boys please ?;-)

[gark] 31/3/2017 18:28

Maybe they will announce a buyer next week?

[iamthedogman] 31/3/2017 17:54

gark......

agreed but nothing on sub window......

[gark] 31/3/2017 17:51

It is still up on their site on front page.