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 1.70 146,020 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

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"but didn't they check the connections between the fields in the meantime as well"

I stand to be corrected but my understanding is that the two fields are discrete but what they were hoping to see rather was an inter-connection between the oil discovery at IE-3 and the unexpected one at IE-4. That has not so far been confirmed and was one of the questions we failed to ask in the Conference Calls and is one of the technical matters we will hopefully see clarified on Tuesday.

Amen to that gark, but export to Bioko would require an inter- governmental agreement and place your bets now on how long that might take

PS The other unknown but significant factor on gas export to EG is whether, after satisfying Cameroon government gas generation requirement, there is sufficient flow remaining to interest Marathon who would have to make engineering and process changes to integrate a new source. This is directly referred to on p19 of the AGM Presentation. Here again,we are hampered by not knowing what all those other pre-listing wells, IM-1,2,3&4 and IE-1 turned up.

According to article a couple of weeks ago they are looking for two wellhead platforms so would infer both IE and IM will be developed, gas will go to EQ and Cameroon. This fits the New Age development plan on their website. This would infer positive news on IE and suggests that FID is getting there. Cameroon desperate to get this developed in my opinion.
true warbaby. but didn't they check the connections between the fields in the meantime as well?
"a plan to invest 1250 billion in the exploration and development of gas for liquefaction"

That boat sailed with the failure of IM-6 and IE-4 to discover another tcf of gas so, once again, it's out of date and inaccurate journalism.

Yeah would agree with the Kevin Keegan fan, could be lots of promising technical stuff on seismic reprocessing, FEED, reservoir engineering, IE thin bedded report etc, but little, if owt, on all important issues outstanding with SNH - nature of agreed development, SNH back-in agreement and licence terms - an awful lot of balls still up in the air and to come down in the right place in the next nine months for '21 FID.

Which amount are you referring to, and why is the amount worrying?
sounds very interesting and promising to me... a bit worrying maybe IF the number they want to invest is correct


I would love to think so, but suspect the best we can hope for is info on when the license application was submitted and perhaps some detail on what has been applied for. Would be nice to know if this years work budget has been signed off by SNH. Might get update on re mapping exercise. Other than that I'm sure there will be a lot of collaboration going on and good progress being made with no definite detail. Lets just hope the word imminent isn't used in relation to the license.
Fingers crossed it is upbeat!

Any expectation of further news on 30 March?
Too much conjecture but thanks for posting.
With hat tip to happy sparrow (and ctc1) over at LSE VOG site:


If accurate, positive news, especially if two platforms are being sought possibly indicating a planned joint development of IM and IE which in turn would require a home being found for all that gas.

As gark says oil price rise to c $65-70 very welcome given Chahin indicated in the pre Christmas Conference Call that the development economics were robust at the then price c $40. More importantly prices are forecast to remain firm as all the drilling cut backs over the last seven years kick in, and while there has been conjecture of prices rising over $100 that seems unlikely given that the Saudis and Russians will almost certainly want a more stable market, say c $75, giving Big Green no price excuse.

With economics comfortable at $40, the potential of Etinde at those sorts of prices looks very attractive given the tested liquids flows over the IE and IM wells we do know of comes in at 26,195 bpd (and that excludes the 9k bpd oil find at IE-4 which still, I think, needs clarifying) though as ever the "tested at" proviso needs stating. In addition, there are those drills pre the Dec 2004 listing which we know nowt of, other than some, if not all, tested positively - IM-1,2,3 and 4 and IE-1.

To get at those obviously highly profitable liquids, the challenge has been to find a home for all that gas which tested at 140 mmcfd on the wells we do know of, and while Our Eli has constantly asserted that the problem is manageable, it is certainly a complicated one, possibly involving trade offs between domestic generation and export, probably to Bioko Island.

This is where all the discussions and negotiations with SNH are likely to be focused and is where the JVP deserve all our sympathies. Dealing with that lot must be a nightmare - not for nowt does Cameroon lie at number 165 out of 190 in the World Banks Ease of Doing Business league table. Down there, incidentally, with its neighbours - Gabon 169, EG 178, Congo 180 while Nigeria hits the dizzying heights of 131st - all I guess making up the dreaded West Africa Factor.

If the "Upstream" headline is correct and two platforms are being sourced, then it's possible that progress has been made on destination(s) for the gas and a joint IM and IE development has become more viable. If so, then I guess we might hear before too long of the JVP going out to IE FEED (assuming they have received by now the IE "thin bedded" report they sought.)

Full story is behind a paywall? Has anyone read it?
Yeah New Age web site says 1st half '21
Thanks for posting. Seems like FID is close if they are taking steps to hire.

New Age in the news with Etinde in focus

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gordan ghetto
Recent rise in oil not factored in here. Production value rising and likelihood of FID also increasing.
Would be nice to get news by then. Not sure if it will be that quick though.
Counting down to 31st March - RNS of 5th February 2020:

"Under the terms of the LOI, VOG and New Age will seek to enter into a gas supply agreement ("GSA"). The LOI envisages that New Age will supply processed Gas to Gaz du Cameroun S.A. ("GDC"), a wholly owned subsidiary of Victoria Oil & Gas Plc, at Limbe. GDC would then transport the gas to Douala

The LOI anticipates that the GSA would be for a period of 20 years and would see New Age supply a minimum of 25mmscf per day of gas to GDC for the first three years, increasing to a minimum of 30mmscf per day. The LOI remains in force until the earlier of the signature of a GSA or 31 March 2021. Ultimately, finalisation of the proposed GSA terms and conditions is directly linked to the Final Investment Decision ("FID") in relation to the Etinde field development project."

The Aksa project has been bobbing around for a couple of years, but as to whether it ever gets off the ground, place your bets now. Indeed, it might very well suit the JVP if both the 150MW Douala plant and the putative 350MW Limbe plant bit the dust.

When was that from start to finish?
Don't hold your breath, the last Exploitation Licence was given priority status and still took over 12 months.
gap @ around 6.30 closed. hopefully next news soon
The strong crude price should make Etinde more valuable and feasible
From Happysparrow on LSE:Remus PetroleumToday 17:24After reading Malcy's blog today, I decided to have a look at Remus - It seems they have their pencils out sharpened for 'production assets' in Cameroon. VOG or NewAge/Blvn, or both, would fit the bill.And a failed bid for FAR would give them A$200m looking for a home.Yashodan Sathe is of particular interest. (now Head of Mergers and Acquisitions for Remus).Part of a big Downstream player in Nigeria'We have complete understanding of oil trading, technical and operational procedures in the shipping line; we also understand the diverse businesses in the maritime industry and best records of our board member in the energy sector and their years of experience and expertise in the business'Of possible note on Oil and Gas Trading ...'We anticipate significant synergies to arise in Africa after setting up our natural gas desks as market liberalization continues and the LNG and natural gas markets converge. We believe that future arbitrage opportunities arising between LNG and natural gas, combined with Neuron's experienced market intelligence, will allow us to develop a unique value proposition to our counter parties and partners in the next few years.''Over the last few years, Yashodhan has developed a robust network of investors in the Venture Capital and private equity fund and transaction space encompassing institutional investors, family offices, fund of funds and ultra-high net worth individuals.'
hahahaha... best!
My wife has a similar business model with me.
belo horizonte
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