Bowleven Share Discussion Threads

[gark] 13/11/2020 12:06

VOG has almost tripled the last two days. Let's hope BLVN can do the same!

[gark] 12/11/2020 15:41

VOG reached a decent settlement today. Looks like they can move forward with domestic projects now. Nicely timed given where we stand on Etinde. Hopefully this points to a positive remapping exercise with greater need for domestic gas take up.

[nufckk] 12/11/2020 10:18

Warbaby. Unfortunately, the recording cuts off 9 minutes before the end (in the middle of your questions). I've asked them to furnish us with the rest of it. We normally record it but didn't this time around.

[warbaby43] 12/11/2020 10:01

"You're more tenacious and organised than I"

Alas not so, Toon, just that I'm an old technophobe who does print-offs of significant stuff and then annotates where I've posted them so I can find them again.

Meanwhile, recording of call now on BLVN website:

[nufckk] 11/11/2020 08:52

My apologies Warbaby, I meant to thank you last night for looking that information up. You're more tenacious and organised than I.

[gark] 10/11/2020 17:22

Got a few today but not all me by any stretch. I am of the view we get there next year hence will be above 15-20p at some point in 2021.

[nufckk] 10/11/2020 16:32

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.

[warbaby43] 10/11/2020 11:02

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.

[kbrook] 09/11/2020 16:55

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.

[nufckk] 09/11/2020 15:26

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.

[gark] 09/11/2020 14:15

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.

[gark] 09/11/2020 14:13

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.

[nufckk] 09/11/2020 12:55

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!

[gark] 07/11/2020 11:54

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.

[buy_more] 06/11/2020 23:09

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.

[nufckk] 06/11/2020 16:10

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

[gark] 06/11/2020 15:18

What do you think? Does this end well albeit after a long time?

[warbaby43] 06/11/2020 15:11

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.

[gark] 06/11/2020 14:45

Why the delay from Thursday? Do we think they are waiting for something else before speaking to investors? The remapping of IE?

[emurray1234] 06/11/2020 10:59

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: [e-mail]

[nufckk] 05/11/2020 09:16

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

[billytkid2] 05/11/2020 09:03

Its next year or never with the license hanging by a thread.

[annual austerity] 05/11/2020 08:03

One is reasonably encouraged but a bit lonely. Manual?

[wapper] 04/11/2020 15:57

Let's hope tomorrow brings some decent news