Bowleven Share Discussion Threads

[cyan] 06/11/2018 20:52

I really do not see a great problem with issuing some preliminary , ball park, volumetric s for the liquid rich discovery. After all look what they wrote in the RNS on the drill results;

"The IM-6 well, which successfully appraised the Intra Isongo section of the field, established a lower gas water contact and adding an additional 150-250 bcf of wet gas resources on a P50 confidence basis. Further analysis will need to be completed before any resource increment can be booked in accordance with the appropriate internal standard."

If they can publish that, they can be clearer and more open on the discovery.

[cyan] 06/11/2018 16:15

Good afternoon RM137.

I would not expect BLVN to release early assessment off their own back, on their own. However, NA do not have the same rule book.

Will all come out in the wash, as they say.

[rm137] 06/11/2018 15:26

cyan, it should be a pretty straightforward piece of work for both the new interval in IE-4 and the firmed up volumes in IM as shown in the slides of the most recent presentation. I don’t doubt NewAge and Lukoil have done it already, and I don’t doubt it will carry a wide range to allow for both reservoir uncertainty and development plan optionality.

Whether it gets published without independent assurance, i.e a new CPR based on the IM-6 and IE-4 results, is a different matter... Under AIM rules, Bowleven would be taking chances if they released an early assessment without a new CPR that later turned out to be incorrect...in either direction. To commission and complete a CPR based on these results would be 3 to 6 months, i.e. in line with comments made about evaluation of results and FID in 2H 2019.

[cyan] 06/11/2018 09:35

I am wondering if all the partners have already made an early,rough, assessment of the volumes in place in respect of our liquid rich discovery?

I am also invested in JOG which is partnered with Statoil. They VERY quickly revealed estimated RECOVERABLE volumes in the range 25 to 130 million barrels following a successful sidetrack. A wide range , subject to further appraisal , of course.

No doubt rm137 will explain the difficulties in interpretation.

I would like to see preliminary assessment published asap.. I doubt ETINDE's, fate with its already understood volumes , hangs on this discovery.

It could be very material, however and an early dissemination of the estimates would be welcome, and, potentially excite, fingers crossed.

[nicobellic] 05/11/2018 17:40

Have you got evidence to back up that statement? If you're referring to his case with HMRC, that wasn't fraud.

[benjimun] 05/11/2018 11:40

di,
you might need to have a think if that post was wise or not.

[dianecarberry] 03/11/2018 17:40

Waseem Shakoor is a oonvicted fraudster if you do your homework.

[cyan] 03/11/2018 15:08

We have a generally decent board here and all reasoned views I welcome.

RM137 seems to have acknowledged that his Lukoil comment may have been a bit contentious and I agree, it was.

Entertained myself by looking back to the 2014 "row" over the "knock down" price paid for the ETINDE farmin; 50% for $250m;



Extract (first paragraph)

"BOWLEVEN, the oil and gas explorer, has been criticised after agreeing to sell a 50 per cent share in a prized Cameroon asset for $250m (£150m).
Major Bowleven shareholder Waseem Shakoor described the deal as a knock down price after years of investment by the company.
Mr Shakoor said he was "shocked by the value destruction that has been crystallised by the deal" and warned he might vote against the deal and move to get chief executive Kevin Hart voted off the board."

Most unlikely we will see 70p a share now, me thinks.

[rm137] 03/11/2018 12:19

roberto, why sell now, current price is supported by the money in the bank.. so assuming you trust COC, might as well hold. Price might be flat for a while, but should respond to FID once the project is defined.

Anyway, think I’ll stick around, and maybe enjoy the banter - but let’s see if we can up your game a bit...

[roberto mancini] 02/11/2018 17:21

In a nut shell what RM is saying, take note numpty iamthedogman, is SELL!

I ask myself why is RM wasting his time posting on this thread unless he wants a lower entry price?

[rm137] 02/11/2018 17:01

Slipanchor3, quick answer to your query about contingent resource. The figures quoted will be 2C - that means a P50 estimate, 50% chance of being either more or less. These contingent resource figures are sometimes assumed incorrectly to be the number that will translate to Reserves once a project is set-up to deliver... but the key point is that the actual Reserves booking can be more or less that the Contingent Resource figure and is dependent on both the appraisal results and development scheme that arises. In this case it could go either way. But, at the risk of being accused of talking it down, the 300MMboe figure was based on an FLNG development that has now been confirmed by the call as not an option for the volumes confirmed...... draw your own conclusions on whether the contingent Resource figure holds up... I think it could, but will need a careful look at the well cost, development scheme and will need agreement from SNH as well. I offer no opinion either way - except that it will change - hence why FID will be 2H 2019.

Perhaps I shouldn’t have offered an opinion about Lukoil...it is only my opinion after all and not supported by any technical knowledge... but I believe that Lukoil, like the rest of the industry, have shifted their global strategy since coming into Etinde 4yrs ago, a decision taken in a $100 oil environment... but will acknowledge that this is speculation, where my previous comments were technical

[nicobellic] 02/11/2018 16:34

As a LTH I couldn't care less what RM posts. However, I also know how to use the ignore button too. If people don't want to read his posts there's a simple solution...

[roberto mancini] 02/11/2018 16:32

Desperation knows no bounds,.. iamthedogman you are being manipulated, clearly out of your depth.

[iamthedogman] 02/11/2018 16:20

RM137

"le commissaire" is the person who set up this BB...........see the header to this BB for his name.

Pay no attention to Roberto Mancini......he is a numpty who I have filtered.

I (a LTH)for one, wish that you would continue to make inputs to this BB as my technical knowledge is that of a gnat and your undoubted technical know how is most welcome.

[rm137] 02/11/2018 16:19

Roberto Mancini ? Real name or also anonymity - or are you indeed the manager of the Italian football team... or maybe just a coincidence? Tell me, why do you post here...?

[roberto mancini] 02/11/2018 16:06

ZZZZzzzzzz

[rm137] 02/11/2018 16:05

Roberto, help me understand how you would know my IP address - I access via a mobile device, wouldn’t that mean the IP address is the same as anybody else that accesses on the same mobile network... don’t really know to be honest as don’t have that level of internet knowledge; but I really have no idea who you are referring to as le commissaire - does anyone else?..

as for anonymity, it would seem most posters here use short names for any number of reasons...mine are professional... if you want me to post under my professional name, then you’ll need to stump up my fees

[slipanchor3] 02/11/2018 15:34

RM137

Paid de-ramper wonder who he was working for.?

[roberto mancini] 02/11/2018 15:31

JGH03 a nondescript anonymous poster who turn up out of the blue posting from the same IP as le_commissaire in deep admiration, FFS AT LEAST USE A PROXY !

[jgh03] 02/11/2018 15:14

RM137 - Sorry to see you go. I appreciated your posts.

[roberto mancini] 02/11/2018 15:06

Goodbye and good riddance.

[rm137] 02/11/2018 14:44

Ok folks, believe what you want. I am neither a professional trader, nor trying to ramp a share price in any direction. I am a private investor trying to bring professional expertise to the debate. I was until this point motivated by the quality of the discussion which filled in some blanks in my understanding of this asset. I’ll reserve judgement on whether I invest, but won’t be posting either way going forward. Good luck all, and goodbye.