Bowleven Share Discussion Threads

[nufckk] 28/12/2020 19:35

I think the New Age website has been updated. New field development graphic and FID envisaged early 2021!

[ham74] 10/12/2020 21:53

Is this webcast much different from the previous one after the results?

[gark] 09/12/2020 23:29

He is now saying loss of license is very low as opposed to low to medium in November so hopefully a sign that there will be an announcement on that shortly.

[warbaby43] 09/12/2020 19:28

Webcast of today's AGM and Presentation now available via "News Releases" on company's website:

[belo horizonte] 07/12/2020 14:42

At the current price, BLVN is a steal. Only a matter of a few months wait.

[gark] 01/12/2020 16:27

That is what I think so hopefully plays out...

[warbaby43] 01/12/2020 15:36

"Also think Chinese are poised to build one of the power stations."

Which would have to be the 350MW job at Limbe and, if it comes to pass, that can't be bad, especially if Lukoil do end up with the contract for the reconstruction of the Sonara refinery so Brit minnow Bowleven would be sandwiched between Russians on one side and Chinese on t'other.

How attractive would BLVN's 48.8 mboe then look to one or both of them?

[gark] 01/12/2020 14:53

I read the headlines and from what I could tell they are pinning recovery on gas power stations and improved energy infrastructure which is a positive. Also think Chinese are poised to build one of the power stations.

[gark] 01/12/2020 13:52

This was in the annual report and referred to LPG only.Liquefied Petroleum Gas (LPG)SNH has informed us that they are interested in becoming the sole offtaker for Etinde LPG. Their intention would be to act as an intermediary between Etinde and the domestic marketplace, with a primary aim of increasinglocal market volumes and replacing imported LPG with domestic supply.under this proposal, SNH wouldbuild and operate an LPG storage and loading facility in Limbé to supply the domestic market with LPG cylinders. The infrastructure requirements for this sales option are being considered as part of the onshore FEED facilities project.

[warbaby43] 01/12/2020 10:52

"I was also interested to read that SNH want the responsibility for managing all Etinde gas produced."

Interesting, Gark, where did you come across that and I'm not too sure that the JVP or their shareholders should be too thrilled at the notion of the commercialisation of Etinde gas being in the hands of a West African state bureaucracy. After all, it was SNH whose price requirements meant that no agreement could be reached with Ferrostaal, and if the fertiliser plant project was still on the stocks, there would be much reduced concerns on finding a home for the gas to facilitate production of the liquids.

[gark] 30/11/2020 17:08

That is big and I was also interested to read that SNH want the responsibility for managing all Etinde gas produced. Points to SNH coming in fully and government support that is important in terms of license and also SNH payment!

[warbaby43] 30/11/2020 16:50

The AR alludes to Etinde LPG for the domestic market, the size of which might be surprising. This, from EnergyMix, with a hat tip to happy sparrow at LSE:

"Nov 30, 2020
Cameroon has issued a call for tenders for the importation of 120,000 metric tons (MT) of Liquefied Petroleum Gas (LPG) for 2021.

The Commission in charge of petroleum product imports-CIPP) asked companies with authorization to import the products to submit bids that will ensure the government’s approval of their importation.

The bids will be opened on Tuesday, December 1, 2020, at the Hydrocarbon Price Stabilization Fund’s (CSPH) headquarters in Yaoundé.

The volume to be imported is 4% higher than the 115,000metrric tons of LPG, imported into the country in 2019.

In that year, the National Hydrocarbons Corporation (SNH) produced only 20,000MT of LPG for the local market. So the imported volume is about six times the local production.

The product will be imported in three batches: 60,000 MT, 35,000 MT, and 25,000 MT.

Okie Johnson Ndoh, President of the CIPP, says the 120,000 MT to be imported will cover the country’s needs in the 2021 fiscal year."

[kbrook] 25/11/2020 17:35

We seem to have seen a pick up in volume and a tick up in price so hopefully this is a sign of things to come

[nufckk] 17/11/2020 14:00

Everything is relative Annual. Before COC kicked them out, there were four or five Directors each earning similar salaries, achieving nothing other than spending ruinous amounts of cash and awarding themselves copious free shares each year in order to keep themselves incentivised. On top of that we had non executive directors, swish offices in Edinburgh (which necessitated regular travel to London for meetings)and a workforce of 50 or so at one point.

I agree though 500k pa is a lot, especially when you read things like "setting the company up for the next decade" in the annual report. I would have a lot more patience if I was being paid 500k pa while I was waiting for the share price to prosper

[annual austerity] 17/11/2020 13:27

https://youtu.be/7ZV8r3M0lxE

[annual austerity] 17/11/2020 13:23

One imagines that all will be forgiven if he delivers, but one is appalled by the level of his salary. One should have paid more attention last year...

[nufckk] 17/11/2020 12:15

You're not wrong on that account. He'd probably find enough money for a million shares down the back of the sofa. Mind you as Kevin Hart once rebuked us " He needs to put food on the table"

[warbaby43] 17/11/2020 11:48

Most likely then that Our Eli is just going to have to fall back on his $504k salary plus $44k in "other benefits"

Now what really would be an share price moving attention grabber would be if he recycled, into a management share purchase, a goodly chunk of that £171,237 dividend he received in February 2019. A purchase of a million shares, or even half a million shares, at these prices, would send a powerful market signal while making not too large a dent in that divi money, even post tax.

Nowt quite like a money where mouth is statement.

[nufckk] 17/11/2020 11:07

Was 45p to 80p but since we had a 15p dividend I'm thinking it may be 30 to 65p now with various amounts of the shares being awarded for different pricepoints, so I'm guessing the full 10,000,000 would require us to be at the top of the scale or above commencing December next year and staying there for three months

[kbrook] 17/11/2020 10:54

Could you remind me of the target?

[nufckk] 17/11/2020 10:38

Regarding the share price....the Bowleven Transformational Incentive Plan expires in March 2022. I have a lot of time for Eli and believe him to be a good guy, but unless he hits his target by December next year (the share price needs to stay above target for 3 months) his free 10,000,000 shares are toast.
Now that would focus my mind.

[warbaby43] 16/11/2020 15:02

"It'll be interesting to see if they reply to Warbaby's question about the first few drills"

Pulling the all info together is not, apparently, as easy as it might seem, given that three of the earlier drills really were earlier, back in the sixties and seventies in fact, with IM-4 being drilled in 1982 and only that one being well tested.

Nick Brough quite generously intends, however, to draft a summary of the available well data while, quite reasonably, cautioning that such an exercise is going to take some time. Given all the other demands on small oilie available management time, therefore, it seems some patience is going to be required.

Meanwhile, it almost beggars belief that VOG now has a bigger market cap than BLVN with many hundreds of trades being made there on each of the last few days, so given the discrepancy on the size and nature of the assets, BLVN management need to come up with an attention grabber to focus some market attention on the investment merits of BLVN.

[nufckk] 13/11/2020 15:42

must admit to being a bit jealous but the massive influx of new posters to the board is a bit suspicious. If VOG do a placing now it would be very suspicious.
But hey, at least they're having a bit of share price action

[gark] 13/11/2020 12:06

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