Bowleven Share Discussion Threads

[symbo] 26/3/2019 10:47

the most concerning issue here in my opinion is that having given back the £50m , a plan is obviously afoot. The full results are still awaited from the drills. It always concerns me how companies sit on sensitive info, fail to release it in a timely manner but still get away with it whilst using it for their own ends. The world is run by mushroom farmers.

[nicky21] 25/3/2019 08:44

Put COPL on your watchlist guys.

[roberto mancini] 21/3/2019 16:11

More drills as the last two were failures,12 further areas of interest were mentioned.

[welshki] 21/3/2019 15:29

warbaby

i did state to bob, after his "huge fund raising" scaremongering (which he still hasnt given his calcs for), that the standard approach is equity for exploration and debt for production

it is pure unadulterated common sense that COC are not in this for the long haul, i.e into production at all, let alone years of it, so logic dictates a sale will occur around the time of FID

however if that changed and BLVN had to fund the development, would COC want to increase their exposure or even have the fire power to stump up more cash to ensure they werent diluted......i think not.......they would take the debt route as well as that numpty hart was planning

and again i am still waiting for bob to logically explain why if COC knew they would have to fund raise why give away 50 million only to put the company they effectively control in a weaker financial position.......it just dont make sense.........

[warbaby43] 21/3/2019 14:48

COC's average is c28p and with 94m shares the special divi would have produced for them c$18m which they might well have a use for in stake building in a company other than BLVN.

However, it has always been clear from the off and from their Letter to Shareholders in 2017, that they envisaged the sale of the company prior to any involvement in the development of Etinde but, in any case, didn't Hart indicate that debt for development was they route they foresaw back in the bad old days.

An Update must now be very close in any event, but my guess is that what might precede that is an RNS indicating who has been buying down at these prices over the past few weeks - HSBC again?

[welshki] 21/3/2019 10:51

no - but you can at least use common sense and not be so obviously bias......balance is not a lot to ask for!

[roberto mancini] 21/3/2019 10:27

Of course it's speculation I can't predict the future can you?

What I can say is we all have a date with the undertaker the question is does BLVN?

[welshki] 21/3/2019 10:22

again BOB your post contains no facts, all speculation and only that of a negative and unlikely nature

[roberto mancini] 21/3/2019 09:49

kbrook mentioned 30%, I was replying and to help the fools > nicoimbecile.

A fund raising no bid forthcoming (more drills FLNG, infrastructure costs) that is when they might have to reinvest the special div and more,..might breach 30% though not necessarily if all holders take up pro rata but if they mop up what others don't, triggering a mandatory bid that would be price they would have to offer if they had no intentions of taking it private,.. they would only offer higher if they wanted to take it private, I suspect not.

COC might be happy to mop up in the 3-6p range if FID remains as elusive as ever,..12-36 months!

[nufckk] 21/3/2019 08:53

Hang on a minute Roberto, a couple of days ago you were telling us COC we’re running away from this “basket case”, “pony and trap share”. Now you’re telling us they’re going to buy everybody else out. What is it to be?

If you’re trying to scare people into selling their shares, at least stick to one narrative!

[welshki] 21/3/2019 08:25

"the highest they would have to offer for the other 70% would be 13p"

no that is not correct, 13p would not be the "highest" they have to offer, its the LOWEST they could offer.........they could buy a shed load at 13p and still legally offer 50p for the rest............you really arent that bright are you?

and you didnt answer a single one of my other questions i see.........shock! lol

[roberto mancini] 20/3/2019 20:20

nicoimbecile, you might find the bidder only has to pay the highest price they have paid in the prior 12 months regardless of the the share price high.

And yes welshboyo they could now buy at 13p taking them over 30% and the highest they would have to offer for the other 70% would be 13p, does not mean it would be accepted of course.

[welshki] 20/3/2019 18:52

Bob your missing the point yet againIf they go above 30% they have to make an offer for the entire company regardless of price paid in the last 12 months COC won't do this, they are a hedge fund, they don't want to outright own and have to run an oil company for years to come

[roberto mancini] 20/3/2019 18:31

30% would mean they have to offer all shareholders the highest price COC have bought in the last 12 months,..none, so previous buys don't come into play.

[kbrook] 20/3/2019 16:46

Where has "COC took all the money out" come from? What money? if you are talking about not reinvesting the special dividend, they couldn't surely as that would have taken them well past 30%, or have I missed something?

[gark] 20/3/2019 16:15

Oil above $60

[welshki] 20/3/2019 15:24

bob you are once again not making any sense (surprise surprise)

"Probably put all their eggs in this basket case expecting a quick return, the drill results killed that"

why would better drill results speed up FID timelines?

also explain why this is a "basket case"?

"They could plough it back in at a later date, why leave it here earning nothing"

right so you have gone from saying COC have took all the money out because (and i quote) "it's just dawned on them it is a pony & trap" but now you are saying they will just plough it back in at a later date.......LOL

"development/infrastructure costs fund raising"

you have been asked for proof of this before, and surprise surprise you have not added any evidence or workings to your theory.....so again lets see your calc's or can we yet again you are just making it up as you go along?

"£100-300m"

again show us your workings! and that is rather a large margin between your lower estimate and upper estimate, the higher being 3 fold of the lower.......PMSL.......i am not sure you would get ever get a job in accounting........i got a feeling you might just be guessing........ROFL

"dilution is usually the way of AIM"

ever heard of the saying equity for exploration, debt for production.......that is the "usual" way

not that either of that matters as BLVN will be sold subject to FID

again can you explain the logic behind your central theory that COC have took 50 million off the balance sheet (and remember they are giving away 70% of that 50 million to others so see no benefit of the bulk of the divi) which opens them up to (in your mind) dilution, a huge fund raise, a weak negotiating position......answers on a post card please......?

[roberto mancini] 20/3/2019 13:23

COC pulled the cash out to generate a return elsewhere as FID is 12 months minimum away. Probably put all their eggs in this basket case expecting a quick return, the drill results killed that.

They could plough it back in at a later date, why leave it here earning nothing.

Those that reinvested the special div might regret it if they don't have any funds for drills/development/infrastructure costs fund raising.

Might be one almighty struggle for BLVN to raise,..£100-300m, dilution is usually the way of AIM.

[welshki] 19/3/2019 13:20

"This is very risky now. A duster would certainly send this to 3p"

FFS.......LOL

[cyan] 19/3/2019 12:32

Tell me where are BLVN currently engaged in exploratory drilling with a risk of a duster?

[bluebell1] 19/3/2019 12:28

hold that thought cyan

[cyan] 19/3/2019 12:16

"A duster would certainly send this to 3p."

I think you are posting on the wrong BB.