Bowleven Share Discussion Threads

[rm137] 13/3/2019 08:04

Does anybody know if NewAge have put out any tenders or FEED studies for an Etinde project. Perhaps this is a question that could be asked by those who have access to Bowleven; if the answer isn’t positive, then don’t expect any FID in 2019.

[bluebell1] 11/3/2019 16:38

Someone give a quick summary here please!!!
(I know I know) I've been out since 39p so its been a while

[hermanngoring] 11/3/2019 15:29

Bring back Kevin Hart

[roberto mancini] 11/3/2019 15:23

Cash/investments must be about 3-4p. FID will add another 6p if it ever gets there, gawd knows how many years investors have been waiting for FID, as elusive as ever!

My concerns is the market usually gets it right and at the moment lower lows are the order of the day or heading in that direction

I'm concerned more drills may be required as the plan was FLNG, the last two drills rather underwhelming, if that were to happen BLVN might be a little short of cash and FID could be two years away if at all.

Not holding my breath on the analysis of the two drills but you never know might get a little spike before the inevitable sell off continues unabated.

[warbaby43] 11/3/2019 14:42

The AGM presentation was on 12th December and with no significant Etinde news since then an Update can be expected in the next few weeks especially as the final results from IE-4 are still awaited.

What will then be interesting is to see if any progress has been made to date on the interpretation of the oil "discovery" and its possible linkage with that at IE-3. However, with considerable difficulties being encountered on making sense of the geology from existing seismic, would it be any great surprise if they opted for a new survey in this area of Etinde and does anyone have any handle on when the original was carried out?

[gark] 11/3/2019 13:34

Once FID decision is reached. By the end of the year as currently envisaged.

[laptop15] 11/3/2019 13:20

Thanks Gark, when is FID payment expected? Any ideas?

[gark] 11/3/2019 13:17

There is £12mn on the balance sheet. You have a further £20mn roughly from FID and the asset is worth roughly $125mn hence supporting a £130mn or more market cap once we progress this. This price seems ludicrous but absolutely no interest in the stock currently. Would assume once further details emerge on way forward, eventual take out could be 30-50p per share. Thought there would be more activity post dividend payment but looks like more patience is required alongside nerves of steel.

[hermanngoring] 11/3/2019 13:01

Fair value is 6p here.

[pjj71] 11/3/2019 12:51

Might be worth a punt at 3p or if Kev returns.. until then just watching the falling knife!!!!

[laptop15] 11/3/2019 12:47

How much is the cash position here now after the special dividend??

[gark] 08/3/2019 12:56

The pain is never ending here. Should have kept the cash and not reinvested. Still think we see 30p plus but will take a while.

[welshki] 28/2/2019 19:50

"Kevin Hart was taking the company forward"Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha Hahahahahahahahahahahahahahahahahahahahahahahahahaha

[welshki] 28/2/2019 18:20

BobGive us your workings for how much cash BLVN would need to get Etinde to productionIf your theory is that they will need more cash, then you must have done some calculations?Don't forget to include what we still have coming our way on FID......If not we can all assume it's just more negative and factless nonsense ......I shan't hold my breath

[roberto mancini] 28/2/2019 16:56

But COC won't be diluting their 30% holding will they if they stumped up their share of any fund raising. The only diluted investors those who don't cough up for their share. COC clearly feel they can get a better return elsewhere with the special div cash, can always use it here at a later date if more funds are needed by BLVN.

Be prepared for all eventualities, this share never fails to disappoint!

[welshki] 28/2/2019 16:01

"I believe COC did not want to leave funds stagnating/tide up for at least another year until FID is reached or Etinde is mothballed.

If Etinde gets the go ahead would not be surprised at all if if a massive fund raising is required by BLVN or they will be stripped of Etinde asset by Mr Biya"

bob

how you continue to make yourself look even more stupid post by post is nothing short of a fantastic achievement

first off COC have invested some of the cash in other financial instruments, they already told you this if you bothered doing any research, so its not stagnating and its TIED up, not TIDE up, nowt to do with the oceans. their name must have you confused....LOL

so COC just decided to give 50 mil out to the other 70% of shareholders just because FID might take a while and they dont know or dont care that would make them "skint" as you put it?

so what about luk and NA, how can biya strip BLVN but not the other 2 if BLVN have not breached any contractual obligation .......stop talking nonsense

and again, these are men running a multi million pound hedge fund and they gave away that divi cash knowing they would have to undertake a "massive fund raise" and dilute their 30% holding into oblivion......FFS......some people shouldnt be allowed a current account let alone a trading one

[welshki] 28/2/2019 15:54

"This is sadly a strategic failure of simply epic proportions"

winnet do you care to elaborate on this please?

i remember many of your posts from your ii days when your quite frankly sycophantic and disingenuous posts used to irk many a poster including me

never did you chastise hart, no matter the mans multiple failings and at times legally questionable actions. yet you constantly alleged COC were acting, and going to act, illegally or at least in an under-hand manner. and of course when asked for proof you went into hiding or simply put the poster on ignore

harts 10 year reign over BLVN was littered with incompetence and failure. i'll name a few as no doubt have forgot some of them

1) hid a courtcase from investors
2) said $15mil for bomono and spent $95 mil
3) did not inform market of the above
4) sapele
5) kenya
6) never took a pay cut even in the down turn
7) £500k spent of our money lobbying just to save his own job
8) farmed out bomono via a deal in which it would have took 32 years to get our money back
9) farmed out etinde when POO was $100+, for less than 50 cents a barell
10) cash rich during oil industry down turn and spent none of the money wisely
11) at the 2015 AGM he was asked why he doesnt take pay cut due to his poor performance, the share price level and the industry down turn.....his response....."i still have kids to feed".......this is man on over £500k basic
12) hires dodgy rigs
13) performed so badly that he allowed COC to purchase 30% of the stock at deep discount to any sensible valuation
14) joined in 2006 and 10 years later 90% reduction in SP
15) over a decade at the helm and not a single drop of oil sold, revenue production or pound of profit banked
16) nearly a billion dollars raised from shareholders and what value did he give back?

yourself and a fellow poster called eagle51 on ii.co.uk lied, manipulated and have been proved wrong over and over again yet there was never any admittance of that. just juvenile and bitter jabs at those that were sick of the old guard and used their democratic right to vote new management in.

new management that have no put a foot wrong so far. returned cash like they said they would (you claimed they wouldnt), streamlined the business and are a holding company for etinde, because hart made us a one asset company

i am struggling to understand why you are still hanging round like a bad smell. you lost money here, you lost the vote, you got most wrong, but you are a fully grown man i assume and should be able to move on

BLVN will play out how it will play out, if it doesnt work out with COC, that doesnt prove it would have worked out with hart, so your agenda is nonsense on all levels

and if you end up getting pleasure out of COC failing (if they do) then that says more about you than anyone else

[roberto mancini] 28/2/2019 15:53

I believe COC did not want to leave funds stagnating/tide up for at least another year until FID is reached or Etinde is mothballed.

If Etinde gets the go ahead would not be surprised at all if if a massive fund raising is required by BLVN or they will be stripped of Etinde asset by Mr Biya.