Bowleven Share Discussion Threads

[wapper] 04/11/2020 15:57

Let's hope tomorrow brings some decent news

[warbaby43] 02/11/2020 16:46

Good news, Toon, that the IE remapping has been completed on schedule and should be interesting, given that while IE-2 and 3 tested at 80mmcfd of gas and 18k+ of liquids, the IE field is down at only 60 mboe against IM's 185 mboe.

I have assumed that that was down to IE being even more difficult to produce from than IM due to its geology with multiple faulting, hence the importance of the re-mapping.

Thursday could be set to be an interesting day.

[nufckk] 02/11/2020 13:46

Thanks for that Warbaby, very informative as usual. The Elbrus site, though limited, does give us a glimpse of what may be coming.
The company have confirmed by e mail that we will be updated on the remapping in Thursdays report so plenty to look forward to, hopefully!

[warbaby43] 02/11/2020 13:03

This was the 3rd May 2018 RNS I was referring to at 18943:

"Further to the announcement of 14 December 2017, the Board has decided to delay a decision to appoint a new external Non-Executive Chairman until there is more clarity on the likely outcome of the results of the two well appraisal drilling campaign on the Etinde field, expected to commence in Q2 2018.

In the interim period, Bowleven is pleased to announce that Matt McDonald, currently a Non-Executive Director of the Company, has been appointed Interim Non-Executive Chairman, with immediate effect"

So I guess the question is will Mr Arnoff be subsequently elevated to the chairman role or will there be another appointment of a new non exec chairman to balance the board between two COC men and two independents. Clearly, the Conference Call can supply the answer.

Meanwhile, by BLVN standards, the 7/10/20 Update was quite cheerful in tone with the final paragraph being particularly interesting:

" The JV continues to benefit from a collaborative working relationship with a wide range of stakeholders to obtain the support required to reach FID, which represents the key objective in the short term. This includes the JV obtaining the licence extension at Etinde. All parties are confident of achieving this and will update the market further in the release of Full Year End results."

The reference to a licence extension can only mean an extension of the Exploitation Licence beyond 2034 and it does seem quite likely that the extension issue was part of the wider negotiation with SNH on the terms of their Etinde participation which would be a significantly positive step. What it also does is alleviate any lingering minimal concern over the government's January break clause.

With the share price sorely needing a kick up the backside, can we now also expect Elbrus taking a significant stake in BLVN for their Oil Recovery Fund.

[nufckk] 02/11/2020 07:56

Warbaby, you referred to the requirement of a new board member in your post of September 23rd. Does today’s appointment look to fit the bill?

[gark] 01/11/2020 11:06

Looking forward to another non event this week. Wishing I had cashed out. Oh well...

[nufckk] 22/10/2020 10:55

In a recent podcast the CEO of VOG pulled up a satellite view of the earth at
night. Sub Saharan Africa in contrast to the rest of the world had hardly any pinpoints of light.
A population explosion coupled with an acute shortage of energy. Who wouldn’t want a slice of that cake?

[nufckk] 22/10/2020 10:42

By 2050, nigeria is forecast to have 400m people, meaning it will overtake the United States as the world’s third-most-populous country. The starkness of this fact (its population is currently about 200m) illustrates the degree to which demography will shape Africa’s future. Nigeria’s growth is part of an extraordinary population surge across the continent, but there is controversy about whether it will continue or can be reined in. The answer to that question has serious economic and political implications.

Sub-Saharan Africa’s population is growing at 2.7% a year, which is more than twice as fast as South Asia (1.2%) and Latin America (0.9%). That means Africa is adding the population of France (or Thailand) every two years. Although Asia’s population is four times bigger, almost two children are born each year in Africa for every three in Asia. Most experts agree that, if it continues at its current growth rate, like Nigeria, Africa’s population will double by 2050. That would be 2.5bn people, meaning more than a quarter of the world’s people would be in Africa. Few question those figures because much of the growth is already baked into what demographers term “population momentum”̵2;that is, Africa has so many women of childbearing age that even if most decided to have fewer babies today, the population would keep expanding.

From The Economist

[gark] 21/10/2020 11:07

Thanks for posting. It looks like the Russians want this to move forward so I would hope reflects upon the likelihood this will move ahead next year.

[nufckk] 20/10/2020 22:58

www.anglophonecrisis.org/2020/04/04/from-Russia-with-gas/
Found the above article today. It’s a bit old but might be of interest.

[kbrook] 12/10/2020 13:03

Have you lost a month somewhere?

[ctc1] 12/10/2020 09:16

RNS said they would update on conference call but I did not see it.

[ham74] 12/10/2020 09:09

You mean did anyone register to dial in to the future call on November 5, 2020?

[ctc1] 12/10/2020 07:42

Did anyone listen to the conference call on 5 Nov?

[squintyflinty] 08/10/2020 09:24

This share is falling on a daily basis.I use to be a holder but sold out many years ago around the £2 mark. Had the shock of my life when I looked up the current share price.I'm tempted to buy again but will hold my nerve until the current slide is over.

[gark] 07/10/2020 12:02

If we get to FID $25mn payment from Lukoil so that may cover equity?

[d1nga] 07/10/2020 09:02

It ain't going anywhere soon imo

[gark] 07/10/2020 08:48

Given the value if FID is reached then this is a positive RNS. Slight concern around equity but given our share and the fact that this is likely to be reliant on more in the way of project finance debt then I am ok with that. Also if FID is reached there is also the possibility of our share being bought out. We are heavily discounted at the moment so I would expect a steep move up if we get to FID.

[annual austerity] 07/10/2020 08:43

One finds encouragement in this RNS simply by considering the alternatives...

[hernando2] 07/10/2020 08:13

Equity raise mentioned, i bet COC wished they hadn’t heard of Kevin Hart or BLVN

[warbaby43] 07/10/2020 07:56

Covid caused FID delay heavily flagged back in March in Interims, so absolutely no surprise there. Otherwise, all appears to be going in accordance with what had been trailed and roll on the next Conference Call, all of which to date have been highly informative and good on Chahin for holding them

[annual austerity] 07/10/2020 07:40

One is cautiously optimistic. One is also rather lonely - where is everyone? Manual Dexterity? Finally, an RNS has landed and it sounds encouraging...

[under the radar] 06/10/2020 13:38

BOR breaking out of triangle now and it’s up 19.7%

465mb of light sweet crude
No debt
Own 100% of acreage
BOD have skin in the game
Quick payback time
Under $35 a barrel costs
Could be a oil rim below Darwin
$2.5m enough to last 2 years
Mkt cap £3m
Potential 1mb total sourounding Darwin
Huge prospects on our acreage
Fairway play

Great news today about PMO merger for all Falkland companies.

Well worth tucking a few away imho


ATB and GL whatever you decide

[ham74] 02/10/2020 15:07

Is this a cryptic puzzle or a fat-fingered typing error?