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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bowleven Plc | LSE:BLVN | London | Ordinary Share | GB00B04PYL99 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.10 | 0.20 | 0.15 | 0.15 | 0.15 | 233,434 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil And Gas Field Expl Svcs | 0 | -2.02M | -0.0062 | -0.24 | 491.2k |
Date | Subject | Author | Discuss |
---|---|---|---|
31/8/2018 15:17 | RNS we have spudded( is that a word?) anyway nice rise today | kbrook | |
31/8/2018 11:34 | Hello , hello , hello. What's going on here then? Looks like a move towards a more realistic valuation. Plenty of upside to get to 50p | cyan | |
31/8/2018 11:33 | Off we go, Northward bound! Nevertheless having done some research I am not comfortable with my holdings here for ethical reasons. The Anglophone versus Francophone dispute is very unpleasant ie South Cameroons issue and I don’t want to continue holding beyond six to nine months. Not trying to be virtuous just safeguarding my p/f from that angle. I sincerely hope that the real Cameroonian people benefit from the forthcoming economic boost, I have a few friends from this region; very open and generous culture! | gunsofmarscapone | |
30/8/2018 13:24 | Well said Welshski, but don't forget that Winnet really wants us to do well out of this, that's why he reappeared after the drop! | kbrook | |
30/8/2018 09:39 | Ahhhhh, the infamous winnet.....I see since your break from ii you still haven’t increased your intellect, credibility or integrity.......as displayed by yet another bitter, misleading and frankly quite pathetic post, have you still not managed to let this one go yet? Could you explain how it was COC that put all their eggs in one basket please? What other potential “baskets” Correct me if I am wrong (actually you will still try do that if I am right as facts and the truth never seemed to matter to you) but KH made bomono commercially unviable did he not? or in your head was it COC that took 90million of your money instead of the 15 million stated and then tried to set up a farmout that ensured BLVN investors would not see a return on that investment for 30+ years? By the way, why did you never criticise KH for that or any of the below? And also what do you think of KH acting illegally and keeping the bomono results and numbers away from shareholders until he had to release them in order to try and complete an extremely poor farmout, which let’s be honest was a last ditch attempt to save his job? Kenya.......where did that 500 grand go? Sapele.......COC too right? And when KH was in charge he promised to put some of that Etinde cash to work acquiring assets and even in one of the worst oil industry downturns on record he didn’t make a single investment, just let that cash sit there doing nothing apart from grossly overpaying himself and his bloated team, is that a potential “basket” of yours? Etinde farmout terms were set in 2014 when the oil price was $100+.....KH farmout Etinde for about 40 cents a barrel.......what are your thoughts on that front? So in summary your spiteful, bitter, infantile and completely misleading post really has absolutely no basis in reality unless you can show us otherwise, unless next time you want to try using something called the “truth”? | welshki | |
29/8/2018 17:03 | Warbaby3 and Slipanchor3, you're both spot on, nothing new in Bioko nor Golar Hilli. The obstacle to pursuing these paths for the last 2 years was NewAge (Steve Lowden) who were financially and emotionally invested in the FLNG project. The bigger picture here was to prove the reserve base up and plug the FLNG project into the grand plans the Chinese (Hopu is a NewAge shareholder) had for West Africa gas. This path is now firmly off the table, so the JV partners are actively exploring the previous (more more viable and easier to execute) options. | aalanani1 | |
29/8/2018 16:27 | aalanani1, many thanks for the response and, as I recall, the Marathon option was posited pre COC and the FLNG project, so unless there was then absolutely no meeting of minds between the parties it can be picked up again at what is now a much more positive time for the gas market. Main point is to have options and not just be over a barrel with one. Thanks too slipanchor3 for keeping us up to date on the Topaz activity - much appreciated. Meanwhile, place your bets now for a Monday spudding RNS? | warbaby43 | |
29/8/2018 13:50 | aalanani1 can't understand why they wanted to build a vessel in the first place with plenty of spare capacity on the GOLAR and Bioko island facilities. If my memory serves me right SNH preferred the Equatorial Guinea option so there must have been some heated politics involved. IE4 update, been quiet out there for the last few days but there now appears to be a couple more offshore vessels joining the operation so the spud may not be too far away. | slipanchor3 | |
29/8/2018 10:45 | slipanchor3, my understanding is that although Lowden's departure has been in the works for some time, his fate hinged on the success of the appraisal well program and proving that the reserves can sustain an FLNG. This plan had the support of the Chinese who are significant shareholders in NewAge and the company was wedded to it. I understand that BLVN and Lukoil were pushing for a plan B, but it was difficult to move on any other front while drilling results were pending. The results from the first well have now all but ruled out the viability of the FLNG, which triggered Lowden's departure and in my view sets the stage nicely for closer alignment between the JV partners on other commercialisation paths. Warbaby43, I believe that Bioko is only 20-30km from Etinde, so definitely the close, but building a pipeline and pumping gas through it would necessitate a bilateral investment treaty with Equatorial Guinea. As for Golar Hilli, there is plenty of ullage. The thing was built to produce up to 2.4 million tonnes p.a, but only has feedstock for half that amount from Sanaga. I think on those basis, it should also be feasible to build a pipeline to send gas 100 km or so to that facility. I stand by the view that although the appraisal well program was below expectations, it will allow the JV to firm up the large and valuable resources already in the ground and move forward. From my perspective, BLVN is incredibly undervalued. Today's market cap is made up of cash + FID, and my conservative valuation of the existing resources is at 28p. That puts the stocks fair value at 55, implying an +80% upside! Guys, let's not lose sight of the important facts. For those of you who were on the investor call, you will recall that management has acknowledged that it is actively pursuing alternative commercialisation options, so FID is still a near term event that can materialise post the final appraisal results. Crown Ocean, New Age, and Lukoil are very eager to monetise this lucrative field soon regardless of recent drilling results. | aalanani1 | |
29/8/2018 08:41 | Just popped in. Not looking good is it. COC's strategy to put all their eggs in one basket has backfired dramatically. Whoopsie! I hate to come back and tell you all i told you so, that would be bad form, so I wont. GL to all the hardened LTH's here. I really hope that something comes of this mess. | winnet | |
26/8/2018 18:43 | MY apologies to Symbo1 was unaware of the article published Mon 20th Aug, the latest information I had of BOD problems related to June 17. Don't suppose the partial failure of MI6 helped his situation I'm just hoping the movement of the Rig is a vote of confidence by the JV, providing they spin the drill bit. | slipanchor3 | |
26/8/2018 16:25 | Not correct slipanchor3, see NewAge's website, Lowden out, Roy Franklin of Kerogen in as caretaker Chair. NewAge's CEO Stoopin also leaving at the year end, already announced. hxxp://www.newafrica things not well at the top of NewAgea and this will significantly impact what happens at Etinde... never mind a disappointing appraisal result, and you don't get FID of anything with no CEO or Chairman. | rm137 | |
26/8/2018 13:12 | After the IM-6 double whammy disappointments of both 410s and 510s, aalanani1's positivity is v welcome and I'm sure that what the JVP would try to avoid if they could is any greater involvement with the bunch of scallies that is the Cameroon government. With regard to piping gas to Marathon at Bioko, my query would be over the distance, c100km? and with the Golar Episeyo FLNG vessel how much ullage is there available allied with question as to whether Perenco intend to increase their feed. In this latter regard, it is gas from Perenco's Sanaga South field that is the supply source and I did try to find out just what the mmscfd flow rate is that is feeding the Episeyo to get a handle on the ullage question and also on what the Etinde JVP would need as a minimum for their FLNG barge but have been unable to find a flow rate figure. Does someone far better at research know? | warbaby43 | |
26/8/2018 11:43 | I completely agree and think this is a positive. I think we will potentially see a lot more M&A talk and potential sale of New Age that will be positive as the buyer may also want BLVN. | gark | |
26/8/2018 11:29 | aalanani1 Don't have a problem with the rest of your post. | slipanchor3 | |
26/8/2018 11:11 | The Steve Lowdon news is old news and my understanding is he has not left the company he stepped down from CEO to Chairman. A more up to date news flash for those interested is that the Topaz Driller has moved overnight, approx 6km east from IM6 to IE4. | slipanchor3 | |
26/8/2018 10:41 | I usually read through these threads and shy away from posting anything, but felt obligated to post something this time. In my view, Lowden's departure is a positive catalyst for BLVN. NewAge was so wedded to the FLNG plant as the only path to commercialising Etinde on his account; the guy is a builder and he wanted to build at any cost. With him out of the picture, the upstream partners will become more closely aligned and open to other opportunities. I think this now brings back to life the tie up with Marathon Oil/Bioko Islands (in my view, the biggest bang for buck) as well as the supply contract to the Golar vessel (likely the path of least resistance). The appraisal well program has been a disappointment, but as BLVN shareholders, we're sitting pretty. The market cap today is essentially equal to cash in the account + carry + FID. That leaves us with tremendous optionality on the upside! Sure, achieving FID is no longer a 2018 event, but that does not mean its not happening. There is a reserve base in the ground, both liquid and gas, and although the appraisal wells have not added to it, there are still several viable paths to commercialising what's in the ground outside of the FLNG. Let's not lose sight of that. | aalanani1 | |
24/8/2018 11:54 | Contacted company, RIG hasn't moved yet. | slipanchor3 | |
24/8/2018 09:04 | Ramayer Having had another look at the RNS it states that the IM4 is East of IM6 but it doesn't state how much further east and due to the fact that the TP has no AIS or if she does she doesn't have it switched on it would be hard to determine whether she has moved or not if it was only by a small amount. The distance from the JKL to the shore which is due east has altered by approx 1 mile so she could well have moved a short distance. | slipanchor3 | |
24/8/2018 08:20 | Thanks, does anyone have and links or info related to Totals IE-1 discovery well circa 1981ish? Thanks | ramayer | |
24/8/2018 07:11 | Ramayer There was a lot of activity yesterday and I thought they were gearing up for the move but by the end of the day, three of the five vessels out there returned to the Lima Base leaving the J.Keith Lousteau and another unnamed offshore vessel out there and that is the way it remains this morning. | slipanchor3 | |
24/8/2018 05:25 | Might be wrong but has the rig moved maybe slip can confirm?? | ramayer |
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