Bowleven Share Discussion Threads

[gunsofmarscapone] 17/8/2018 00:34

Ah Pillow, couldn’t remeber why I filtered you.

Usual reason, Darwinian Evolution, bye again.

[gunsofmarscapone] 17/8/2018 00:31

Just a longer hold? What you did, imo, was not unreasonable. I have done several trades recently in other companies, which will require patience in order to evaluate whether a correct decision was made.

It really depends on the ratio of your executed trades and what else is in your porty. Read everything you can on decision making. Sort of relevant but more about crisis/emergency management ‘HMS Marlborogh Must Enter Harbour’, Nicholas Monserrat.

[slipanchor3] 16/8/2018 23:50

GOM
Bought more at @38P.

[pillow] 16/8/2018 22:39

This heading down the pan folks get out while you can next stop 15p

[gunsofmarscapone] 16/8/2018 22:04

Sorry Slippy, what did you actually do? Sell, short etc? I don’t do emotion re shares just as a learning point for me.

If anything as PI’s, we are quite poor at exchanging information.

[slipanchor3] 16/8/2018 19:37

Well done GOM.

Wish I had done the same all the signs were there but I bet against the market, no one to blame but myself.
My main core was bought 28-31p so not a total disaster.

[secs in the city] 16/8/2018 15:48

OK thanks cyan, so if about 60% of these existing resource figs is bookable to reserves then IM6 will be a disappointment not a disaster.

WGIIP (bcf)* P90 / P50 / P10 / Mean - Upper Isongo, 81 / 122 / 187 / 129 - Middle Isongo, 175 / 389 / 863 / 467 - Intra Isongo, 275 / 539 / 1,094 / 626 Total WGIIP (bcf) 531 / 1,050 / 2,144 / 1,222
CIIP (mmbbls)* P90 / P50 / P10 / Mean - Upper Isongo, 5 / 8 / 13 / 9 - Middle Isongo, 25 / 56 / 127 / 68 Intra Isongo, 44 / 91 / 193 / 107 Total CIIP (mmbbls) 74 / 155 / 333 / 184

[cyan] 16/8/2018 15:46

Good afternoon GOM.

yes, stunning numbers , hence why the farmin. One thing is certain, imo; we are much closer to the end game.

The next drill MIGHT add value.After its results comes in the negotiations for the sale of our 20% in Etinde will start in earnest.

We have a solid base value , imo, and that is 48p. I suspect that many would gladly take 45p now.

We could still get 50p plus, imo.

COC will not sell, imo, until after the final drill has been completed and properly assessed. Not too long to wait considering the LONG road we have travelled.

[gunsofmarscapone] 16/8/2018 15:32

Thats it, dry powder fired off in two salvoes at 27.1 and 27.4. What happened to that stupid old sack who tried to frighten you all yesterday?

IE is VERY VERY INTERESTING,

An Isongo Echo well, now the logical choice is news of the first rate! Here is the set of DST results from Aug 2010.

DST 5 - gas condensate (7,208 to 7,252 feet)
· Flowed gas and condensate from thinly interbedded reservoir but unable to achieve measurable rates.

DST 4 - gas condensate (7,520 to 7,570 feet)*
· Tested 7,195 barrels per day of 42.8 degree API condensate and 27.5 million standard cubic feet of gas on a 64/64 inch choke.

DST 3 - oil (7,608 to 7,678 feet)*
· Tested 5,931 barrels per day of 37.0 degree API oil and 15.1 million standard cubic feet of gas on a 54/64 inch choke.

DST 2 - light oil (8,120 to 8,225 feet)
· Tested 605 barrels of per day of 36.0 degree API oil and 7.4 million standard cubic feet of gas on a 36/64 inch choke.

DST 1- oil (8,326 to 8,348 feet)
· Tested 845 barrels per day of 38.0 degree API oil on a 28/64 inch choke.

So there you are, very very confident that my holdings increase today, now reduced further in average will be a very good decision.

More evidence of the benefits of patience.

[cyan] 16/8/2018 14:22

Here is an old BLVN presentation which shows the excellent IM5 numbers.



No reserves booked yet but the tables give indications of what's possible

[cyan] 16/8/2018 13:57

Based on the June 2014 valuation of ETINDE (price paid for BLVN percentage) we can say that our 20% should be worth $100m USD TODAY.

That's £78.72 m Sterling or 24p per share.

Maybe 18p per share in cash held now

With FID payment worth 6p to come

Total realistic worth, imo, 48p per share.

There is a chance of upside from the fully carried drill to come.

[secs in the city] 16/8/2018 13:53

Does anyone know how much of the intra-isongo resource is already booked as reserves? There has been only one penetration (IM5), so I'm assuming none of the resource is yet booked as reserves, so although disappointing will IM6 allows us to book more reserves? That's the critical question, have been through all the results and AGM presentations back to 2014 and have not found the answer, does anyone have an idea? Thanks in advance.

[cyan] 16/8/2018 13:37

Market cap now just £89 m

My estimate of CASH held now; maybe £59 m

We have $25 m on FID ; thats about £19.7 m

Total £78.7 m

I think our 20% of ETINDE is worth FAR more than £11.3 m Sterling

Gross over reaction. Seen it before. Value will eventually be realised.

[pjj71] 16/8/2018 11:32

welshki.. he could have blown into the strata and all that hot gas would have been a huge boost to reserves...

[welshki] 16/8/2018 10:59

pj.......how would kev have made a difference to this drill, dug down with a spade himself and altered the strata formation? also you do realise BLVN are not the operator right? do you remember he said $15mil for bomono and then spent $90 mil making it commercially un-viable? also why would BLVN go into receivership when they have no debt and over $80 in cash with millions more on the way?.........answers on a postcard please!!!!

[pjj71] 16/8/2018 10:47

I always said Bring Back KEV!!! Maybe he will buy them out of receivership

[yasrub] 16/8/2018 08:49

Warbaby43 and Oilretire thank you makes sense.

[oilretire] 16/8/2018 08:44

Yasrub, my guess is partly to do with wanting further initial log analysis completed?

[p@] 16/8/2018 08:27

Big buyer out there!

[warbaby43] 16/8/2018 08:27

YASRUB - getting ducks in row, sorting out diaries, liaising with New Age, especially over what can be said re 310s etc? Am a little surprised it's as early as next Tuesday.

[hazydaisy] 16/8/2018 08:21

Managed Pressure Resources Ltd (MPR) are pleased to announce the opportunity to support NewAge (African Global Energy) in its E&P business in Cameroon. MPR will provide Managed Pressure Drilling support and execution on a two well appraisal campaign in the Etinde field. The appraisal program aims to further improve the already robust economics for future development of this world class asset and MPR openly welcomes the opportunity to provide their expertise to the project. We look forward to enabling safe and efficient drilling operations and assisting to provide optimized well delivery.”

[yasrub] 16/8/2018 08:19

Does anybody follow why there is to be a conference call next Tuesday, why not sooner if about yesterday's news ?