Bowleven Share Discussion Threads

[imjustdandy] 21/7/2023 07:09

You honestly believe they are going to raise funds at £5m mkt cap when the asset is worth £150m.

[imjustdandy] 21/7/2023 07:08

Interim statement referred to in todays RNS Eli Chahin, Chief Executive Officer of Bowleven plc, said:"We remain on the verge of what we believe to be a major turning point in the business with the expected upcoming change of the Etinde operatorship once Perenco secures regulatory approval.This is expected to be a key milestone in progressing what is hoped to be a transformational energy project for Cameroon , accelerating what has to date been a challenging timetable towards hydrocarbon production at Etinde for the benefit of all the JV Partners. As demonstrated by the recent signing of a bilateral co-operation agreement on hydrocarbon monetization with neighboring Equatorial Guinea, we are on the cusp of a new energy horizon for Cameroon that will impact the lives of many. We look forward to keeping our shareholders abreast of the anticipated positive developments over the coming months."

[imjustdandy] 21/7/2023 07:08

Don't de silly Robert.

[roberth176] 21/7/2023 07:06

Tanking todaySpeeding tickwt

[imjustdandy] 21/7/2023 07:04

The Etinde project is worth £150m and our market cap is £5m. Try work out where the fundraise will be priced. Game on

[bigbigdave] 21/7/2023 07:02

notes the recent movement in the price of its shares and confirms that it is not aware of any particular reason for the sudden increase.

[imjustdandy] 21/7/2023 06:33

I think if you start to DYOR on what the board were saying last year this is beginning to stack up. The board value our stake in Etinde at $150m but they recognise the gap between current market cap of £5m needs to be closed. I think this could well be the start of that gap closing event. Here is their statement - "On the basis of the detailed examination undertaken, the Board felt justified in maintaining the investment case for the Etinde valuation in excess of $150 million and hence concluded that no impairment was deemed necessary at the current time. The Board feels that with the evolving macro and geopolitical environment, the revenue and cost assumptions of our recent financial modelling, and the high calibre JO partner, the Etinde valuation now has a stronger underlying hypothesis. We acknowledge that the current capitalisation falls well short of these levels and that the Board's challenge into 2023 is to close this gap.

[imjustdandy] 21/7/2023 06:19

That high profile event looks highly likely IMO

[gark] 20/7/2023 22:01

https://www.thearmchairtrader.com/smallcap-round-up-bowleven-lunglife-lansdowne-oil-gas-amte-power/

[gark] 20/7/2023 19:27

850k shares traded at 1.50p at end of the day. Hoping for news but might be a pump and dump. News on Friday typically bad.

[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.