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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
  -0.125 -7.35% 1.575 1.40 1.75 1.70 1.575 1.70 145,717 10:10:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.0 -1.4 -0.7 - 5

Bowleven Share Discussion Threads

Showing 92176 to 92199 of 92575 messages
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DateSubjectAuthorDiscuss
01/2/2021
11:24
According to the company, the value of their portion of the Etinde project is $150mn and that is what it is valued at on the balance sheet. That followed a write down on the back of a conservative valuation model.In respect of cash, yes the $7/8mn held of balance sheet plus the JV partners payment of $25mn on FID.If we get into production the value of Etinde will increase given that the $2/3 per barrel they are assigning to our 59mn boe share will move up. Even if we don't but FID occurs then the value should move higher to say $3/5 per barrel I would think.This is all hypothetical so very much depends on outcome as to where we end up.
gark
01/2/2021
10:51
"Given the value of the asset on their balance sheet that was lowered from previous, the cash and unpaid Lukoil payment on FID you get to at least $130mn"


"the cash and unpaid Lukoil payment"

gark, re "the cash and unpaid Lukoil payment", are you referring there to the $7/8m balance sheet cash plus the $25m FID cash and Lukoil's $18.75m share of that sum, if my arithmetic is correct on that apportionment?

We don't often disagree but isn't $130m on the adventurous side? Mind you, I'd be doing a jig if you were right or anywhere near on that mark.

warbaby43
01/2/2021
08:36
Looking very strong!
bmwman3
01/2/2021
08:24
Big buys flooding in
shirley83
01/2/2021
05:12
Big week ahead I feel
bmwman3
31/1/2021
23:09
Given the value of the asset on their balance sheet that was lowered from previous, the cash and unpaid Lukoil payment on FID you get to at least $130mn. Personally I think it is worth more. We will see as you say but I remain positive that it will move higher from here.
gark
31/1/2021
22:33
As I said, it depends on the agreed NPV and what BLVN’s share of that is. Also assuming it does go the route of offering its equity for sale.
At the current exchange rate, it will need to receive around USD130M for a 30p distribution. That is more than it got from the previous sale. I guess we may know the true figures soon enough.
I might add that an NPV of (say) $650m is not a big project and in reality it might turn out to be worth a lot more. I hope so.

belo horizonte
31/1/2021
20:50
Still infers 30-65p
gark
31/1/2021
19:39
That was before the 15p Special Dividend in early 2019.
belo horizonte
31/1/2021
19:10
here is the report from 2017 with the explanation about the "Bowleven Transformation Incentive Plan". on page 23 are the details as copied below where it's agreed that the share price has to be between gbp 0.45 - 0.80 for a continuous period of at least 3 months.

hTTps://www.annualreports.com/HostedData/AnnualReportArchive/b/AIM_BLVN_2017.pdf

Bowleven Transformation Incentive Plan
The BTIP was adopted by the Board of the Company on 9 May 2017. The purpose of the BTIP is to align employees with the Company’s long-term goals and performance through the potential for share ownership. Awards under the BTIP are granted at the sole discretion of the Remuneration Committee.
As announced on 12 May 2017, Eli Chahin, the Chief Executive Officer, was granted a right to acquire up to 10,000,000 ordinary shares in
the Company at a nil cost under the BTIP. The Option shall be exercisable subject to and in accordance with the rules of the BTIP, including
the extent to which certain performance conditions are satisfied over the performance period commencing on the date of grant and ending on 31 March 2022. The Option’s performance conditions relate to the attainment of certain share price points between £0.45 and £0.80 per share for a continuous period of at least three months and meeting the annual cost underpin criteria, whereby the annual cash costs incurred must be below the amount set out in the cash expenses target set by the Board. Malus and clawback provisions apply. Options under the BTIP which vest may be exercised within ten years from the date of grant.

buy_more
31/1/2021
17:37
I can’t see COC wanting to be a producer. The question is what sort of deal can be done with the other partners. Taking cash now reduces project risk so it will have to be at a discount to the project NPV. Question is, what is that?
BLVN sold 40% back in the day for around $250M; thanks for burning through that Kev; so is 20% worth $125M today?
If I remember correctly, COC’s average purchase price was around 28p per share. Adding in the special dividend means it needs 13 -14p just to break even.
To my mind 25 -30p per share seems the likely range.

belo horizonte
31/1/2021
10:59
if we read from post 18821 onward (it was march 2020 when hsbc sold 500k shares) and the share price dropped. now they bought again 500k and together with the positive news you can see what happened to the share price in a very short period of time. chart-wise we are now in a very interesting territory. imo there is a gap at around 6.30p which might be closed before we try to break trough 9.50ish and close above it. looking forward to much more volume in the coming weeks and to the coming news of course.
buy_more
31/1/2021
08:37
This is a dollar industry so rather than first thinking in terms of pence per share, more relevant perhaps to think of what dollar price BLVN's 48.8m boe might be sold for and guestimate what the £/$ rate might be and attempt then to work back towards a range of possible share price

So far as production and the possibility of dividends are concerned, it's going to be at least three years before production, and financing is going to be expensive, given political and surety of gas income risks. Additionally, the other partners are likely to wish to continue drilling, given the raft of other significant prospects that lie within Etinde, so a significant chunk of income remaining after financing is going to be required to fund BLVN's share of those costs.

Throw in the fact that Lukoil's present 30% share entitles it to just c73m boe and the most beneficial outcome for both parties would seem to be for Lukoil to buy BLVN near to or soon after FID, so that their share becomes c 122m boe - much more appropriate for an oilie of their semi major size.

Many more pages still to turn in this story but, at least, there should be a steady flow of updates from now on in.

warbaby43
30/1/2021
15:33
If you think BLVN is cheap then look at VOG. At 5p market cap is £12 million
rayfenn
30/1/2021
15:09
IF we go into production imo there is no reason to sell after that. we will get our share of revenue accoringly and if overhead stays +/- the same there should be a pretty nice dividend every year for shareholders.

but of course i like the rest here firmly believe we will be sold. hopefully this year. 45p is still my number i predict and calculate with.

buy_more
30/1/2021
13:52
New board may lead us into production and then sell for maximum buy out price!
bmwman3
30/1/2021
13:16
We can but dream...
jordaggy
30/1/2021
12:02
I think if we are bought could be anything from 25p to 50p. If we go into production then this might head back to above 50p and potentially as high as 80p to £1. However, a lot could happen in the interim so very difficult to say.
gark
30/1/2021
10:12
warbaby (and others), may i ask about your opionion/guess about the share price and future (long term) dividends if we go into production together with the jv partners?
buy_more
30/1/2021
09:31
If there's a sale then I expect 30± but difficult to judge
letmepass
30/1/2021
07:59
"to me there is only one logical explanation and that is a full company sale, rather than taking this into production.

plus these are hedge fund guys that don't really want to run an oil co forever and day, extracting maximum amount of value in a reasonable time frame is more their style"

See post 18995

warbaby43
29/1/2021
16:47
Long term holder.
Something is breaking.
Added 20% today.

oilbethere
29/1/2021
16:24
Today 15:54 from LSE posterdont forget it wasnt too long ago the BOD decided to dish out a 15p dividend when they were acutely aware of how much extra cash they would need to go into production.......to me there is only one logical explanation and that is a full company sale, rather than taking this into production.plus these are hedge fund guys that don't really want to run an oil co forever and day, extracting maximum amount of value in a reasonable time frame is more their stylealso those CEO share options don't trigger unless the share price is above 45p so its gotta be near there or why set it so high? the main question I have is that 45p inclusive of the 15p divi, so a sale at 30p or does the sale need to be at 45p......hopefully the latter!sale just after FID anyone........?
bmwman3
29/1/2021
15:46
Close to FID now so a few variables but I think we are getting closer. At the moment it is up to the individual to assess the probability. I have held for a very long time so I think we will get there but it has certainly tested my patience.
gark
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