Bowleven Share Discussion Threads

[pjj71] 08/8/2017 08:09

I'm hoping the recent uptick is on leaked news that KEV and BILLY are coming back!!!!

[cyan] 07/8/2017 16:50

The LSE poster has stuck to his guns regarding the ETINDE sale. Whatever way you look at it; we remain seriously undervalued and our 20% of ETINDE might just net us 47p plus per share IF there is anything credible in the Chinese rumours.

47p IF ETINDE is sold wholesale for $1 billion

62p IF ETINDE is sold wholesale for $1.3 billion USD.

Of course we would also have to factor in, on top, the value of $40 million free carries AND $25 million FID payment.

This all ignores our massive cash pile.

One can but dream there is some substance to the 'rumours'.

[symbo] 07/8/2017 15:51

This will probably drop steeply at close

[carla1] 07/8/2017 14:35

Naughty pumping and dumping!

[warbaby43] 07/8/2017 14:27

Thanks for the responses to my Lukoil question and with regard to this:

"I would be surprised if COC changed tack and wanted to buy MORE of ETINDE. I thought the idea was to sell out and take a giant profit."

I have been re-reading the portion of their Open Letter of 17th February on Etinde and am not sure that their attitude would be so open and shut if Lukoil were to offer their stake and New Age were up for taking the lion's share. Clearly, COC viewed Etinde as the prize and if the chance came to enhance BLVN's and their own stake while enabling the project to advance more quickly then who knows. As it would entail using a large slab of the $80m or so that might be left, then presumably shareholder approval would need to be sought.

I just wonder when the next Etinde update might come - if there is, indeed, anything to update us on

[cyan] 07/8/2017 14:06

I am not sure if I am more shocked by the fact that people post complete fabrications on BB's ,or that people rush off and buy a share based soley on such posts without DD.

Actually , not very shocked by either behaviour.

[wookie77] 07/8/2017 13:49

Big trades hitting l2

[gark] 07/8/2017 13:42

Not me! I was looking at his posts and questioning as gark on LSE too.

[roberto mancini] 07/8/2017 13:40

gark you seem to know! 1msn on LSE is you, correct?

Nothing showing regards luk buying Etinde at all anywhere apart from LSE forum!

Edit: gark now appears to be posting under gark and 1msn on LSE imho.

[gark] 07/8/2017 13:36

Apparently sold for 1.3bn to Lukoil. Before that it was the Chinese. Who knows?

[goodgrief] 07/8/2017 13:36

Bloody hell... have we struck oil !?

[cyan] 07/8/2017 13:28

At least the Share price is moving. I wonder if the unsubstantiated ' rumour' postings on LSE BB has anything to do with it.
Give me strength.

[cyan] 07/8/2017 13:19

Doing business in Cameroon is not easy;

30th May 2017 comment



Extract;

"The government initially agreed to SNH taking a 20% paying interest stake in Etinde, which requires the government to also put forward funding for the permit. However, SNH would now like its share for free and is not willing to contribute financing. Cash-strapped SNH has rejected a funding proposal by NewAge."

[cyan] 07/8/2017 12:21

I expect that there are serious penalties for LUKOIL if they try to avoid their share of development costs after a majority of the partners agree the plan.
They really can not avoid their responsibilities.

They can not walk; only sell. One would think that NEW AGE are the only likely potential buyer.

I would be surprised if COC changed tack and wanted to buy MORE of ETINDE. I thought the idea was to sell out and take a giant profit.

If COC have buyer lined up for BLVN's 20% stake as Malcy's spies supposedly reported, the assumption has been that it is NEW AGE. That seems most likely .

Would NEW AGE want all of ETINDE? If the price is right I suppose.

Its really all about the Cameroon government and their decisions as to off take solutions.

[tiler1] 07/8/2017 12:08

From memory in der pre-emption rights. NA as operator can get the wheels in motion and start to organise the drills if LO did not want to partake they would forfeit their stake. It would then be up to the remaining partner or partners to cover LO drill cost and take over their equity stake.

Obviously FID and the Cam gov hurdles need to be jumped first.

[warbaby43] 07/8/2017 10:54

A question, I guess, of strategic priorities with no company having infinite resources as the second para of the Tass piece make clear:

"MOSCOW, June 14. /TASS/. Lukoil managed to refinance $3 bln of loans due in 2018, now the company has to repay around $2 bln, the company’s First Vice President Alexander Matytsyn told reporters.

"As for our peak year of 2018, we currently have approximately $2.1 bln to repay. The need for serious payments should not be an obstacle to our ambitious investment, operating and dividend programs," he said.

So far as BLVN is concerned back to my question at 16700:

"If the Russians should want out, how much could their 30% be had for and should BLVN be a willing participant, alongside New Age, for a junior portion of that stake? (Always assuming, of course, that New Age would have the appetite for the major slice)"

[cyan] 07/8/2017 09:23

Withdrawal by LUKOIL would be costly to them , imo. Hopefully the Cameroon government will see reason and come to an agreement with the partners on how to move towards monetisation . There is no profit otherwise.
What reasoned options have LUKOIL?

On FID BLVN will be paid $25 million.

We received $15 million in October 2016 as part of the terms.

[warbaby43] 07/8/2017 07:45

Re slipanchor3 at 16751: "Read a report made by Lukoil which contained a paragraph stating they had 3 FID decision to make in West Africa one Ghana Nigeria and CAMEROON"

Again, in those terms, it sounds like it could well be a strategic decision of whether to continue involvement in W Africa or to pull out completely tying into the Tass piece posted by cyan at 16698.

IF that is indeed the case, strategic decisions in an industry that moves at a pace that makes glaciers look like greased lightning means any advancing of Etinde could well be still some considerable distance away.

[gark] 05/8/2017 19:46

Very welcome. Looks to me like we will get action in Sept/Oct.

[wookie77] 05/8/2017 13:05

Interesting article i had no idea.Thanks for posting.

[fatnacker] 04/8/2017 18:11

G+A was $.6 million a month, coq said they'd reduce it to $.35 million a month, add $3 to 4 million one off costs and in fact costs will rise at least in the first year, that doesn't include the new incentive bonus scheme.

[3waysout] 04/8/2017 17:56

I think come AGM time you'll get a lot more visibility on all the cost cutting efforts and shareholders will be nicely surprised. Don't forget the G&A was running at around USD10m per annum for a company that wasn't producing anything!

The new management team should all be sacked if they don't bring costs under control because it's an admission of failure

Running costs have to be a fraction of what they were and as long as the gas monetisation strategy on Etinde holds up, then the shares can only head one way....