Share Name Share Symbol Market Type Share ISIN Share Description
Bowleven Plc LSE:BLVN London Ordinary Share GB00B04PYL99 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.95 1.50 2.40 1.95 1.70 1.95 22,800 08:00:12
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.4 -0.7 - 7

Bowleven Share Discussion Threads

Showing 92076 to 92100 of 92550 messages
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Hey Gark, I didn't think you'd buy that many! Haha.
Warbaby. My wife did the call last year because I wasn't around and she managed to get back in again at the end. They didn't do that this year. Frustrating. I'm looking forward to the recording being uploaded to the Bowleven site as the old grey matter doesn't seem to compute at the speed it used to and I'm not sure that I heard what Happy Sparrow is saying he heard over on LSE.

Toon, I think this is what you were after:

From COC's Open Letter to Shareholders dated 15th Feb 2017:

"It will be the responsibility of the proposed new Board members to determine the most beneficial,value maximising route for Etinde - be it accornpanying the development until full production, or adisposal along the way, upon the achievement of certain milestones (appraisal drills, FID, firstproduction). This objective can only be achieved through a constructive dialogue with and suppoftof the JV operator as well as the other partners.

Shareholders should be fully aware that a potential future disposal of Bowleven's stake in Etindewould be conditional on shareholder approval pursuant to AIM rule 15.

With Bowleven becoming an efficient, one-asset company with available tax losses to shelter future taxable income, we view it as a likely scenario that the final monetisation of Etinde would take placein the form of a corporate transaction, i.e. an offer to all shareholders by a third party.

For the avoidance of doubt, we have neither been approached by any third party about their intention to make a bid for the Company nor have there been any discussions with third parties about apotential sale of Bowleven's interest in Etinde. We however believe that a cleaned-up and focused business should become a highty attractive acquisition target in the future."

It was previously posted at 16818 and at 16817 COC express an "interesting" view on the issue of return of cash and development funding.

I too had many other questions but assumed there would be other holders putting them and didn't want to hog the time so was v disappointed that no one else came forward and that the call was wound up.

Given that finding a home for all that gas is a major issue, one of those questions would certainly have been re Ferrostaal (see my post at 18954) That project seemed to finally collapse in early 2018 over the issue of supply price of the gas but at that time there was still the expectation that the destination for all that gas would be FLNG. Now though, with the economics being liquids centred, I would have thought there could be much more flexibility on gas price requirement. I do recognise, however, that as the negotiations with Ferrostaal are in the hands of SNH, there might be other issues in play.

I don't recall them ever saying that they had no intention of taking us to production I think it was just the assumption of myself and others that they wanted a quick in and out with a large profit. That was also my hope alas we know how that went. I listened to the conference call sadly nothing new to inspire me. I will continue to hold to the death, hopefully not mine.
It would be interesting to see what price you can get Gark, I notice the spread is 32% at the moment. It's virtually like they don't want anyone to buy.
Me and my wife spent a fair amount of time trying to dig out a COC statement issued when they were trying to kick out the old board stating that they had no intention of taking us through to production. It's looking like we were just muddled up with what others were saying at the time because we can't find anything.
It'll be interesting to see if they reply to Warbaby's question about the first few drills.

I may actually buy some more as everything seems quite positive and risk of license not being renewed is low hence this could take a leg up before the end of the year.
Still here. Not much to say or ask until we know more about IE, what the new work on mapping tells us and the type of proposed development. Should get visibility on license soon. Positive from the call IMO was that we should have enough through Lukoil and payments from SNH to fund us through the next phase unless development is bigger in scale. Positive on that is if it is then they are more optimistic on the find so equity will be of higher value and if that is the case more likely we will be bought out.
Good conference call although a bit disappointing that only a couple of us took part in the Q and A section. If I'd known this, I would have asked more questions but didn't want to hog the show. Maybe there's only a handful of us left!
Thanks, I hope you are right, so far it has been a long painful journey. I think we get somewhere with this so let's hope next few months provide more direction.
What do you think? Does this end well albeit after a long time?

gark, i understand your concerns. i am pretty convinced we will end up 40+
(as per my post 18880)

...or we will go into production together with the jv partners and in a few years we get paid a nice dividend every year.

The interims are what I’m referring to when I say they’re going back to joint financing with New Age after mentioning the appointment of Bowleven’s own financial advisor four weeks ago....
I always assumed JV meetings were the first Tuesday of each month, hence operational RNS’s normally pop up on the first Wednesday of month.
Something would appear to have cropped up at the last meeting to change the mood

What do you think? Does this end well albeit after a long time?
Pretty cheerful, for Bowleven, trailer, but then a Results RNS that was, in its tone, back to being their usual selves with the share price reaction telling its own story.

As to why a Conference Call is taking place now rather than at AGM time when the far more detailed AR has been published is a mystery. Indeed, it might make even more sense if it came after FEED and IE remapping completion and digestion.

As to the joint financing excercise, to be fair they did trail that in the Interims on 27th March - page 1 and at the bottom of p2.

Why the delay from Thursday? Do we think they are waiting for something else before speaking to investors? The remapping of IE?
Interesting to see that Bowleven are hosting a conference call for shareholders at 12pm on Monday 9 November 2020. If you want to join, contact Celicourt Communications via email:
First up, my apologies for suggesting there would be a mapping update but i waa most definitely given the impression we were getting one.
Whilst the RNS to me seems very upbeat with a particularly specific reference to the value of Etinde, what do others make of it?
More boardroom changes
Three weeks ago FID mid 2021 now 2021.
Finance back to being raised jointly with New Age whilst 7th October RNS stated "Bowleven" had appointed a financial advisor.
Conference call put back to Monday at v short notice

Its next year or never with the license hanging by a thread.
One is reasonably encouraged but a bit lonely. Manual?
annual austerity
Let's hope tomorrow brings some decent news
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.

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!

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.

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

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