Bowleven Share Discussion Threads

[cyan] 09/8/2017 17:36

We could start producing without further drilling .
It makes sense to complete the two appraisal drills and hopefully retain as additional producers . Multiple off take solutions are then available.

IF we can prove up an additional 2 TCF that would add serious value to our asset.

Looks like COC are up for that.

[warbaby43] 09/8/2017 16:55

"Surely there has to have also been a resolution on the cost sharing by SNH too?"

Would sure seem to and does it perhaps also follow that if the Ferrostaal project isn't parrot dead then there will also be a need for more gas and therefore more drilling?

Btw, LNG is always expressed in terms of weight, eg Fortuna FLNG "will produce 2.2 million tonnes of LNG a year" and for anyone like me who was scratching their head for what 2.2m tonnes equated to, these tables via Google might be helpful:



And another very comprehensive table with the specific conversion on p3 of 1m tonnes pa = 140mmscfd

[gark] 09/8/2017 16:36

One can't happen without the other.

[cyan] 09/8/2017 16:02

Been reflecting on the report that an agreement amongst the partners on FLNG is imminent .
Surely there has to have also been a resolution on the cost sharing by SNH too?

Does not one agreement also require the other too?

Hopefully an RNS will be coming soon that will put to bed BOTH issues to rest and we can move forward; or am I hoping for too much?

[cyan] 09/8/2017 14:00

Price movers to look out for includes;
official confirmation of FLNG agreement,
SNH agreement over their 20% interest and development costs,
LUKOIL confirming its commitment to the ETINDE project,
announcement of appraisal drills and,
FID ($25m to BLVN)

Our share price sill does not properly reflect the 'value' here with a very low MTBR.

[nigelpm] 09/8/2017 13:59

Surge of buying around 30p.

[cyan] 09/8/2017 11:29

I am not into charting myself. This link as supplied by a LSE poster may interest chartists.



I think the article is positive lol

[wookie77] 09/8/2017 08:04

This is grea news. Forget 35p suddenly monatisations seems possble!

[gark] 09/8/2017 07:58

Also worth noting there is a big floating LNG vessel on its way to Cameroon owned in part by the Chinese.

[nigelpm] 09/8/2017 07:54

If endorsed you might see 35p pretty quickly.

[warbaby43] 09/8/2017 07:52

But, if endorsed, a major propellant for appraisal drills?

And while the Lukoil decision might well be regional and strategic, it would hopefully be a big prod in the "right "direction" especially were there to be a Gazprom destiny for the gas, as there is for Perenco's.

[nigelpm] 09/8/2017 07:17

Indeed. Worth noting it hasn't been officially agreed yet.

[warbaby43] 09/8/2017 07:14

Excellent, and if endorsed, transformative and value enhancing news.

[cyan] 08/8/2017 23:40

Should have refreshed my page gark and I would have seen your post; but , what the hell, a repeated link of really great news.

[cyan] 08/8/2017 23:38

Hot off the press and many thanks to a useful LSE poster for this link;



Really significant news. very good.

[gark] 08/8/2017 23:12

Looks like we have lift off!

[fft] 08/8/2017 11:09

Certainly more than just small PI interest. When the 95000 was knocked off the buy side at 29p a few minutes ago, I thought that that would be that, but another 95000 went right back on. Don't know how big the buy order is, but there is (famous last words) interest...

[cyan] 08/8/2017 10:16

I think we should completely discount the idea that all of ETINDE is potentially about to be sold to the Chinese or any other fantastic made up buyer.

The credible idea to hang onto , imo, is that COC will, eventually, sell our 20%.

When and for how much are the questions for me. Then , maybe, a cash dividend from our cash pile too.

Anyway, I am off on a mission now. catch up later.

[warbaby43] 08/8/2017 10:11

IF Etinde were to be sold, would not the sale be just for the 80% held by NA, Lukoil and BLVN?

[cyan] 08/8/2017 10:00

True. the fundamentals remain; we remain undervalued and our share price should be higher.

COC paid 34p for 14 million shares ( from memory). We are still heavily discounted.

How much cash have we got in the bank? pushing 20p per share maybe?

Add value for ETINDE and our share price ought to be North of 50p; well, that's the theory!

[gark] 08/8/2017 09:42

Someone has to be buying as although big sales the price is holding.

[cyan] 08/8/2017 09:14

The 'rumour' posted by 1msn on LSE about a buyout , in particular the LUKOIL buying all of ETINDE is, imo, clearly false and part of a pump and dump.
I took a screen shot of his posting regarding the sale allegedly reported by CNBC. I believe that his postings are entirely without foundation. That post has been taken down and can no longer be found.
First it was the Chinese, umm not an impossible idea, but then the LUKOIL posting which is incredible and makes no sense.

A pump and dump for sure, imo.

Certainly some very big sells went through.

So what is ETINDE worth. In particular what is our 20% worth when COC hopefully completes a sale?

I think a reasonable starting point is $500 million for ALL of ETINDE based on the previous buy in price.
This , to my mind a reasonable minimum value.
So $100 million to BLVN or about £77 million sterling. That equates to about 20p per share.
We have , on top, to consider that $25 m USD payment upon FID . That is about 6.5 p per share.
The $40 m USD carried drills equate to a value of about 9.5p per share.

[fatnacker] 08/8/2017 08:54

That's a ridiculous statment, you think the purchase price of a company aligns with a low point in the share price?