Bowleven Share Discussion Threads

[roberto mancini] 02/11/2018 13:56

"there’s enough information there now - the 3d image and volumes table - to do a quick look screening on potential recovery and value, so if I get a spare few hours over the next weeks...."

Did not take you long to reply, all of 21 mins!

RM137/lecommissaire you are a professional trader, NO?

[nicobellic] 02/11/2018 13:48

HSBC (or someone they hold for) has just increased their position by 1% of the issued share capital.So, someone believes there's money to be made.

[slipanchor3] 02/11/2018 13:34

RM137

Thanks for your thoughts and would be grateful for a little more clarification.

Before the appraisal drilling Etinde the contingent recourses where stated to be 300mbe and this was authenticated by a third party CPR.

Apart from the Clare Field and one or two others West of Shetland, the average find in the North Sea was 25mboe as stated OGA I find it hard to accept that Lukoil is going to walk away from a 37% share of 300mboe of free-flowing Gas & Oil in a shallow field in the calm waters of Cameroon.

A large majority of the 327million shares in Bowleven are held by the Institutions and COC who I'm sure have the resources to call on Analyst and Field Engineers to look after their interest.

The last TR1 published by RNS was on the 31st of July so I don't see any II's running for the hills, I'm not qualified to say you are wrong but I don't see any evidence to say you are correct.

[rm137] 02/11/2018 13:28

Roberto, made my position clear last time I was asked - I see this share as an investment option with market cap = money in the bank, and trying decide whether Etinde development or sale is likely to generate share price growth. I post here to test my thinking and access the financial insights offered by others. My technical views are my opinions, but based on 30yrs of global oil and gas development experience and are the same analysis that institutional investors would access from professionals like me. You can take it or leave it, your choice.

As for Blackpool, I have no interest at dr connection. And I am completely lost on the commisaire reference.

[roberto mancini] 02/11/2018 13:07

I suspect RM137 is talking one's book.

Give it a rest RM137/le_commissaire, have you not talked this share down enough for your own ends? How's the fracking in Bpool going?

You need to ask yourself why is he so forthcoming with his investment opinion yet proclaims to hold no position!

I would expect COC to be more than accommodating should a
low-ball bid 50-60p transpire in the next 12 months after the drill results have been fully evaluated.

[rm137] 02/11/2018 10:17

cyan, slip, warbaby et(inde) al, just had a look at the presentation posted on Bowleven website, and of course read through your comments. Haven’t listened to the call yet, but the presentation pretty much covers it..

there’s enough information there now - the 3d image and volumes table - to do a quick look screening on potential recovery and value, so if I get a spare few hours over the next weeks....

First thoughts though - the in place numbers for Intra Isongo at IM are lower than what was used on previous statements of contingent resource (theoretically recoverable). And the resource focus has shifted to the Middle Isongo. This is significant, and not great news, as the Middle Isongo reservoir is deeper, higher pressure, faulted and complex... while the Intra was straightforward... This changes the development cost and recovery estimates massively....

anyway... FID end 2019 is technically achievable - but will need early alignment between all partners and SNH on the proposed scheme....and I suspect Lukoil will bail - this project is now substantially smaller than envisaged and doesn’t fit their activity model.

[speleologist] 01/11/2018 23:19

Regarding rumour posts.

A quick look at the history of Diane's posts will show that during the recent IE4 drill there was supposedly a drilling halt due to a "problem"... Maybe the discovery of the light oil bearing formation which according to the presentation today flowed at a peak of 8000 boepd and 4000 boepd for a period without significant pressure drop.

A question was asked today about what the Topaz driller was still doing on the site. The answer was taking off New Age related equipment and loading Total equipment prior to its transit to the Total site. No problem there then.

Nothing whatsoever about any well problems.

This "Rumour" sounds like a load of tosh to me. See a bit of a drop and post unsubstantiated rumours to help a short position?

GLA

[dianecarberry] 01/11/2018 19:50

well collapse

[loafofbread] 01/11/2018 19:48

Looks like the investor call went well! FFS.

Give us the rumour then?

[dianecarberry] 01/11/2018 18:04

drilling rumour

[nigelpm] 01/11/2018 17:53

What's the rumour?

[bonnie60] 01/11/2018 16:56

By cuttung g&a COC have given us time. They have no influence over result of drill. If Hart&co had still been in charge we'd be looking at cash call or massive dilution. They were bleeding us dry. No guarantees with Etinde but if calue is to be realised we need to still be around, something that was much less likely with Hart and his grandiose cash burn.

[dianecarberry] 01/11/2018 14:59

COC are shysters

[hot_topic] 01/11/2018 14:52

The results on Thursday 8th will be interesting.

[hot_topic] 01/11/2018 14:37

Well someone is buying so can't be all doom and gloom,

[warbaby43] 01/11/2018 14:34

"In the conference call COC were questioned" - one way of describing Our Eli, cyan, but what that does recall, if my WWII vintage memory serves me right, is that following the drills an announcement of a new chairman (and a new non-exec?) could be expected, so place your bets now on an imminent RNS and move over McDonald at the AGM.

[dianecarberry] 01/11/2018 14:23

COC are a disaster.

They are much worse than Hart.

They promised to increase shareholder value and have done the exact opposite.

They are a sham.

[cyan] 01/11/2018 14:19

"Kevin hart was never as bad as this shower in charge."

Tell me what COC did wrong?. Hart's record was one of expensive underachievement, imo.

COC can not be held responsible for the drills. There could easily have been a very different, VERY uplifting pair of drill results.

As it is, the pair of drills did add volumes and a new liquid rich discovery.

The volumetric's of ETINDE will be more completely understood now and a reasoned development plan can be formulated, maybe one that will be quicker to execute?

We should take heart from the fact that we have an obviously valuable , commercial asset and a share price largely supported by cash.

In the conference call COC were questioned about Stockdales 52p valuation. They were very coy in their response and my take was they were expecting something less.
Imo, The question is how much less.

My guess is somewhere between 40 and 50p

[slipanchor3] 01/11/2018 13:56

Sorry, Hot Topic the first part posted its-self gremlins at work.

[kbrook] 01/11/2018 13:43

What is the rumour of which you speak?

[jordaggy] 01/11/2018 13:42

Nothing really changed...FID now 2019 - surprised ?

[hot_topic] 01/11/2018 13:40

Hi Slip - my thoughts also. Appears to be pi's selling and also, I think, the ones that were doing the buying in the run up to the investor call.

[dianecarberry] 01/11/2018 13:38

Not invested here.

Kevin hart was never as bad as this shower in charge.