Bowleven Share Discussion Threads

[ham74] 20/7/2023 19:11

Strangely google finance is showing a last trade at 1.50p today, below the spread of 1.6p to 1.9p, and I cannot see any trades below those levels reporetd on the London Stock Exchange site. Is the google finance price likely an error?

[ham74] 20/7/2023 17:06

Just under 1% of the shares in issue changed hands today - but that is less than GBP 50,000 of turnover. Hard to say if this is meaningful yet.

[roberth176] 20/7/2023 16:05

Idiots buying

[imjustdandy] 20/7/2023 16:02

Interesting

[johnjames876] 20/7/2023 15:50

Be caregul

[johnjames876] 20/7/2023 15:50

Pump and ducking dump

[jpodtrading] 20/7/2023 15:48

What's going on?!

[ham74] 18/7/2023 20:13

I wonder how big a deal the June long stop date for Perenco/New Age realy is. Over the years many of the expected deadlines have been delayed by years. And if we look at Afrentra, active in Angloa, they waited a few weeks after the end of a long stop date before putting out an RNS saying it had been extended by a few months. Overall the newsflow I have been posted makes me think we must be getting warmer and closer.

[ham74] 15/7/2023 09:20

Perenco expects progress on New Age approval



1st sentence : Paris-based independent Perenco has signed a production-sharing contract (PSC) for the offshore Rio del Rey Basin and says it expects progress on approval of its acquisition of New Age’s interest in the Etinde gas field project.

(I did not pay to read the rest of the article behind the paywall. Does anyone have a subscription to African Energy ?)

[gark] 08/7/2023 22:19

Independent Anglo-French hydrocarbon producer Perenco has started production at the South Kole Marine oil project located 50km off the coast of Cameroon. The project is now producing approximately 3,800 barrels of oil per day.The milestone follows an eight-month work program which required well architecture, pipelay and platforms to be installed.The program effectively proved the commercial viability of the marginal field.Located in depths of between 30 and 50m, the field was initially discovered by another operator in the 1980s, and forms part of Perenco's strategic agenda to optimize its current assets in the country.

[ham74] 05/7/2023 10:00

Regarding the USD 10 million of disputed recoverable costs, between 2014 and 2020, for context what was the total amount spent by the JV over that period? How material is the 10 million in the wider scheme of things ( and presumably Bowleven's share of it is 2 million?).

More broadly, can these costs only be recovered upon FID, or under any other scenarios?

[warbaby43] 03/7/2023 15:36

Thanks for that link and South Kole Marine is part of the RDR licence and as it's near shore and in shallow waters and as the release speaks of "innovative solutions" it's possibly referring to this:



And as the piece also refers to "Perenco is now working on a way to develop the design to work in deeper waters, in the 40 to 60 metre water depth range. This, it said, would support redevelopment on more fields." it might have some relevance to an Etinde development and assist in curtailing the level of capex required though whether even an upgraded version could handle the Etinde volumes of gas and liquids might be the question.

Incidentally, this also appears in the Energy Voice S Kole piece: "Perenco recently signed a new production-sharing contract (PSC) in the same basin. Before the start of the South Kole Marine, the company was producing around 35,000 bpd in Cameroon" a very far cry from the 100m bod and 24 cu metres of gas they have been claiming.

With regards to the extended delay and the new 20 year RDR licence, is it possible, perhaps, that, prior to finalising with NA, Perenco and SNH are backwards and forwardsing on the provisional terms for a parallel new 20 year Etinde licence conditional on FDP and FID?

[jordaggy] 02/7/2023 15:56

Dito, thanks Ham.

[nufckk] 02/7/2023 14:45

Much appreciated Ham74. We are all in the same boat, just waiting ......

[ham74] 02/7/2023 09:12

Perenco restarted a marginal oil field dating back to the 1980s in offshore Cameroon. They seem keen to use their tech savvy to milk every drop of resource out of the area, and presumably that must include Etinde...(though no mention)

hxxps://worldoil.com/news/2023/6/29/perenco-completes-south-kole-marine-development-offshore-cameroon/

[ham74] 01/7/2023 11:26

If Perenco do complete the New Age deal, is there any good reason why they would not also want to bid for part or all of Bowleven's stake in Etinde (or even the whole of Bowleven, if the tax loss argument has any weight?)

Is there any special value in New Age being the operator, or would you expect other stakes to have the same value?

[ham74] 30/6/2023 17:31

No news on Perenco/New Age deal consummation. Has the June "long stop" date been extended I wonder ?

And reaching back to the AGM presentation late last year, it indicated fundraising 1Q 2023. I wonder if that was actually contingent on Perenco/New Age closing?

[ham74] 25/6/2023 01:12

Who thought ( and still thinks ) Perenco will be a game changer that finally secures FID?

And who thought ( or now thinks ) the recurring behavioural pattern of delays and disagreements will continue?

[ham74] 24/6/2023 09:42

What surprises me about the Chad/Cameroon row, is that Perenco has actually got the Chad production back up and running. Perenco bought Glencore's oil assets in Chad and started exporting oil via the pipeline last year.

hxxps://www.energyvoice.com/oilandgas/africa/ep-africa/430699/chad-perenco-first-glencore/

Separately, how can we get rid of some person or robot posting crypto spam on this chatroom?

[warbaby43] 23/6/2023 07:34

Rather it plays into the narrative beware Cameroonian/Chadian entanglements, though, to be fair, it seems more to be the Chad government that's caused the trouble. Not that they're any worse, though, in their aggressive treatment of the O&G industry than the London Tories.

[ham74] 20/6/2023 20:17

To reiterate, the Chad row is a distraction, and probable cause of delay, but I cannot see it having direct relevance to Etinde. Would you agree?