Bowleven Share Discussion Threads

[nufckk] 06/3/2020 10:27

With a nod to Warbaby and Gark, Lukoil would appear to be in the driving seat now. Lukoil and TechnipFMC have worked together on several projects previously. A JV in Russia plus projects in Bulgaria and Turkey. This, combined with the Sonnara project suggests they are calling the shots.

I notice we get a mention in the attached (subscription required to read the whole article)

which reports New Age are targeting FID in Q3 this year.

[nufckk] 05/3/2020 09:20

Thanks for explaining. Much appreciated

[belo horizonte] 05/3/2020 07:54

Sorry, by LSE I meant the London Stock Exchange. You can register to get free alerts on your watch list as a PI.
It is the exchange that BLVN is obliged to notify. The other share sites pay for feed from it. If they don’t, they don’t get.

[nufckk] 04/3/2020 21:34

Possibly because you’re registered to receive the alerts. Most people aren’t but log on to the website for the relevant share chat.
If you check out the London South East site there is no record of the last two RNS’s.
I still see all of this as a positive, they just don’t seem to be making a big fuss of it compared with some other shares I have.

[belo horizonte] 04/3/2020 20:29

I receive alerts from the LSE and it did email the blvn RNS. A little later than normal 07.32.

[nufckk] 04/3/2020 16:38

BTK....I know what you’re saying about the share price, but they’re barely shouting the news from the rooftops. I notice the last two RNS’s weren’t even posted on the LSE website ( to save money? ). If I wasn’t receiving e mail alerts from Bowleven themselves I’d be none the wiser today. Whilst there appears to be little interest in Bowleven I suspect a lot of the shares are in sticky hands now.
I can’t help but feel the share price isn’t the game anymore, it’s how much we can sell Etinde for.

[billytkid2] 04/3/2020 15:43

Share price still suggests the market is very sceptical. Market cap around the levels of the FID cash alone. I'm trying to assess who are the winners if FID doesn't meet the deadline and the license lapses. Are Lukoil and / or NewAge likely to get the whole asset themselves after some backdoor dealing with the Cameroon government or would it be a blow to them also? I hope this works out for Bowleven (I'm a shareholder) but they are a small player in all this and the share price suggests they are going to get squeezed out.

[warbaby43] 04/3/2020 15:11

Too true The Toon:



With this morning's news being one giant step for Etinde man, Ladbrokes would probably be moving the FID betting from even money to odds on, especially when put alongside the news in your 7th Feb post at 18797 with Sonara being a 42,000 bpd refinery:



In owt other than a very abnormal, badly spooked market, the reaction to this RNS would be puzzling. When rationality does get restored, though, would then be nice to see some hefty confidence buys from one of the Instis or better still from management.

[nufckk] 04/3/2020 14:39

Googled TechnipFMC, they’re no tin pot outfit

[belo horizonte] 04/3/2020 08:29

The news today is a very positive indicator. FID is only a matter of time.

[warbaby43] 20/2/2020 15:17

For those who keep an eye on Carbon Capture developments, the sequence of pieces on NetPower might be of interest (a little of it being a bit too eye glazingly technical for me, I must admit)

Rodney Allam is, of course, a Brit and predictably given the cold shoulder by that wholly owned subsidiary of Siemens known as the UK Government's Department of Energy and Climate Change.

[warbaby43] 18/2/2020 12:14

"Given focus on Cameroon, I wouldn’t be surprised if Lukoil make an offer for Bowleven ahead of FID payment"

What has been significantly positive for Etinde over the past two and a half years is Lukoil's apparent change of attitude to W Africa. Going back to July 2017, the now sadly departed Cyan posted at 16698 a link to a Tass report featuring a lengthy quote from a senior Lukoil director which included this:

'Lukoil’s projects in West Africa await an investment decision because of volatility on the oil market, he went on.

"We are optimizing the portfolio of our overseas projects. We are making investments into attractive projects. Other projects are at a stage of reviewing jointly with project operators, particularly in West Africa. We have not withdrawn from them; they are at a waiting stage. Nigeria, Cameroon, and Ghana - all these projects are at the stage of waiting for the final investment decision," the top manager said.

Lukoil made a significant cut in overseas projects, Matytsyn said. "This is because the Russian oil producing business turned out to be much more stable and not susceptible to fluctuations in oil prices. Operations in other jurisdictions are more exposed to oil price fluctuations. Many companies, not only our one, postpone or cut such projects," he said.'

Reading that, a reasonable conclusion would have been that their W Africa assets were regarded as no more than marginal and that a strategic withdrawal from the region would have been no great surprise with all the damage to Etinde credibility that that would have entailed.

However, given not only their $800m dollar acquisition of NA's main CB asset but their taking on of Ophir's expired EG Fortuna PSA betokens a radical change of attitude and while NA might have been the long time favourite to make a bid for BLVN, Lukoil might well now prefer to take over as top dog and as Etinde operator via BLVN's stake in the asset.

Certainly no bad place for us to be with Chinese on one side and Russians on t'other.

[gark] 08/2/2020 10:46

This combined with the LOI with VOG suggests full steam ahead towards FID. I read somewhere else that New Age are also looking for two well head platforms so focus on getting condensate out to process locally alongside building up gas offtake arrangements. Given focus on Cameroon, I wouldn't be surprised if Lukoil make an offer for Bowleven ahead of FID payment. I hope that the price at that point will be realistic rather than today's level.

[nufckk] 07/2/2020 21:55

hxxps://www.businessincameroon.com/economy/0702-9948-russian-lukoil-in-cameroon-to-negotiate-the-reconstruction-of-sonara

[buy_more] 05/2/2020 21:45

The LOI anticipates that the GSA would be for a period of 20 years and would see New Age supply a minimum of 25mmscf per day of gas to GDC for the first three years, increasing to a minimum of 30mmscf per day. The LOI remains in force until the earlier of the signature of a GSA or 31 March 2021. Ultimately, finalisation of the proposed GSA terms and conditions is directly linked to the Final Investment Decision ("FID") in relation to the Etinde field development project.

...

if i have calculated it correctly the MARKETPRICE for 25mmscfd of natural gas supplied to VOG is appx USD 17.000.000 per year?

[oilretire] 05/2/2020 08:00

And the VOG RNShTtps://www.investegate.co.uk/victoria-oil---38--gas--vog-/rns/operations-update/202002050700079714B/

[oilretire] 05/2/2020 07:57

Gas supply LOIhTtps://www.investegate.co.uk/bowleven-plc--blvn-/rns/loi-signed-for-supply-of-gas-from-etinde/202002050713059713B/

[jordaggy] 02/2/2020 04:35

Could be; certainly wouldn't hurt.

[gark] 01/2/2020 15:05

https://africaoilandpower.com/2020/01/30/with-its-gas-mega-hub-equatorial-guinea-wants-to-deliver-on-expectations-of-successful-african-cross-border-gas-cooperation/If they can get cross border agreement this could be extremely positive for BLVN.

[jimarilo] 14/1/2020 00:47

wrong bb ;-)

[gark] 12/1/2020 21:50

I think we will get there but this is a real slog!

[kbrook] 12/1/2020 14:05

Thanks for posting Gark, can't read it unfortunately and I'm not going to pay to subscribe! Hopefully we've seen the bottom and are on the way back, a snippet of good news is what we need to get it moving the right direction

[gark] 10/1/2020 21:57

https://www.upstreamonline.com/field-development/new-age-eyes-new-dawn-at-cameroons-etinde/2-1-732767Anyone got access, from the snippet I read it seems like we are progressing.New Age eyes new dawn at Cameroon's EtindeProject could be sanctioned this year despite unresolved issues and doubts over FLNG option 8 January 2020 17:51 GMT UPDATED 10 January 2020 10:24 GMTBy Iain Esau in LondonPrivately-owned player New Age is aiming to revive its stalled Etinde gas and condensate project off Cameroon, with plans to start front-end engineering and design work in the

[gark] 08/1/2020 17:44

Article in Africa Intelligence staying that New Age will sell all its African assets apart from Marine III and Etinde. For the latter they are focused on domestic gas. This should be positive for FID and suggests Chinese investment in local power generation. If FID looks more likely this is far too cheap.

[boston 004] 05/1/2020 22:11

Yes it's definitely time to get back on board, well I am in the morning anyway... :)