Bowleven Share Discussion Threads

[cyan] 05/7/2017 12:29

There was never much support for a merger on this BB , imo.
I thought for a long time there was a reasonable case especially when VOG's share price was lower. I doubt there are many more now who support such a merger.
I think the mood has switched towards cashing in via a sale of our principal asset.

[deanroberthunt] 05/7/2017 11:38

would make perfect sense.

VOG have the infrastructure and contacts and clients....
BLVN have the cash and better gas assets, waiting to be exploited...

this would accelerate the growth plans of both by a significant amount, as Logbaba is relatively small and VOG has limited cash.

[deanroberthunt] 05/7/2017 11:35

who'd be up for a VOG/BLVN merger? as suggested by someone else?

[warbaby43] 05/7/2017 10:33

With regard to COC's and the new boards relations with SNH, might be worth recalling the missile (see Kimboy2's post at 16271) that SNH fired back in March in relation to the VOG farmout which ignominiously exploded all the claims that Kev & Co had to be supported because of their hugger mugger relationship with SNH.

Rather suited COC's purpose did that SNH press announcement as, of course, did Steve Lowden's comments to the FT Alphaville column on New Age's somewhat tenuous relationship with Hart & co.

[fatnacker] 05/7/2017 08:46

symbo the cam gov already have their feathers ruffled which is why the ceo said he didn't know if Bowleven would "remain the operator of Bomono going forward"

[symbo] 05/7/2017 07:48

Coc are now probably looking to play ball with Vog and Bomono because if they realise the Cameroon gov want to back into Vog deal then railing against them is probably going to upset them. Why not just go with the flow in order to get cam gov deal settled on the bigger prize, the only real prize of Etinde. Sprat to catch a mackerel comes to mind. Hopefully, coc are genuine clever private investors who see this as a deal of a lifetime and if they play it right and they are not in anyone's pocket they can truly achieve a stupendous exit price by playing the game in a clever way. If they profit hopefully we do as well. It may be a dream but unfortunately that's all we have left now, so dream on.

[warbaby43] 05/7/2017 07:18

A little reminder to the less patient - the new board have had control of the company for barely three months with the RNS of Allan's surrender and departure dated 30th March.

Sorting out internal matters including getting to grips with the size of Kev's court and assessing true financial position surely requires some time perspective from shareholders.

Meanwhile, what I wonder is the cash down to after the desperate Allan/Hart self preservation splurge and all the redundancy payments. Still at $80m+ or now below?

[yasrub] 04/7/2017 21:11

Thank you gark.

[gark] 04/7/2017 20:50

Diagram in last section at the bottom.

[hazydaisy] 04/7/2017 20:25

SINGAPORE – Keppel Shipyard is preparing to deliver the world’s first converted floating liquefaction vessel (FLNGV) to owner Golar LNG Ltd.
The vessel was named Hilli Episeyo at a ceremony in Singapore. It will soon sail to Cameroon to operate offshore Kribi for Perenco and Société; Nationale des Hydrocarbures, and will be the first FLNGV project in Africa.
Chris Ong, CEO of Keppel O&M said: “Compared to newbuilds, converted FLNGVs are significantly more cost-effective and faster to market, without compromising safety and processing capabilities. With the experience gained from this first FLNGV conversion project, we are in a unique position to provide customers with reliable end-to-end solutions for the EPC and commissioning of FLNGV as well as FSRU (floating storage and regasification unit) conversions.”
The Hilli Episeyo was converted from a 1975-built Moss LNG carrier with a storage capacity of 125,000 cu m (4.41 MMcf). Sponsons were fitted on both sides of the hull to house the topsides equipment comprising pre-treatment systems, four PRICO single mixed refrigerant liquefaction trains, boil-off gas compression, and offloading equipment.
The vessel has a liquefaction capacity of around 2.4 MM metric tons/yr (2.64 MM tons/yr) of LNG.
Oscar Spieler, CEO of Golar LNG, said: “Hilli Episeyo represents a game changer in the LNG industry with its fasttrack, low cost project execution.”
Through its Gas Technology Development arm, Keppel O&M has also developed FLNGVs that can work in combination with floating storage units to provide cost-effective solutions for gas export terminals, and which are said to be faster to market compared to land-based terminals.
07/03/2017

[yasrub] 04/7/2017 20:12

Hi Gark your reference to ' high value Asian market' - I cannot find this on the New Age website, any chance you can direct ?

[fatnacker] 04/7/2017 20:01

I don't remember the ceo saying he didn't want to be operator.

[gark] 04/7/2017 18:48

Interesting that the diagram on New Age chart of Etinde production has the gas being exported to "high value Asian market". Looks increasingly like a deal has been done and it just needs sign off. Once they agree this I think the offer will be made. The Bomono sale is part of the story as that needs to be separated out with operator role transferred before any sale can take place.

[warbaby43] 04/7/2017 16:48

The main thing with Bomono is to get shut of it at as little cost as possible and certainly exit as operator with this being course that COC hoped the new board would follow to "clean up" the company as far as is is possible and leave all focus on Etinde.

The main question would appear to me to be the size of the dowry that SNH/VOG will seek to extract.

[pjj71] 04/7/2017 16:03

Lets hope clown ocean can provide some commentary in a more timely manner going forward! Whats the point in issuing an RNS hours after the event has been made public????

Come on clowns show us some tricks to get the share price moving northwards otherwise bring back Kev.....

[gark] 04/7/2017 15:34

Given the CEO mentioned they would not want to be operator assume they are renegotiating.

[kimboy2] 04/7/2017 15:21

COC could terminate the agreement if they wished;

Completion is subject to, amongst other things:

Ø The grant of a PEA over the Bomono PSC. The PEA application was submitted by Bowleven to the Cameroon authorities as requested following Ministerial approval for the award of a two-year extension to the Bomono PSC (to 12 December 2018);

Ø The approval by the Cameroon Government of the assignment of the equity interest from EurOil to GDC Bomono; and

Ø Should these conditions precedent not be satisfied by 30 June 2017, both Bowleven and VOG have the right to terminate the Agreement.

Could be renegotiating of course.

[ifthecapfits] 04/7/2017 15:21

A couple of weeks back there were rumors of New AGE doing an RTO into SAVP (which for disclosure purposes I hold). If true (its a big if) not sure of what the read through is for Etinde...and BLVN.

[nick rubens] 04/7/2017 15:12

I don't think COC could do anything about it unfortunately. VOG seem to have got a great deal. I think we need to look elsewhere to extract value back for shareholders.

[deanroberthunt] 04/7/2017 14:21

I feel a spitroasting on the horizon

[deanroberthunt] 04/7/2017 14:20

sorry, for the benefit of the BOD, not shareholders

[deanroberthunt] 04/7/2017 14:19

VOG are good at giving away equity for nowt

[deanroberthunt] 04/7/2017 14:19

maybe it is being renegotiated, hence the extension

[roberto mancini] 04/7/2017 14:17

Was hoping the deal would be renegotiated as it was a sh*t deal for blvn done just to keep kev in his job imo as others alluded to at the time.