Bowleven Share Discussion Threads

[warbaby43] 27/7/2024 13:27

He might be 85 but for now at least M Moudiki survives:



ttps://ecomatin.net/cameroun-le-conseil-dadministration-de-la-snh-exige-la-revision-des-comptes-2023

When supply problems of even a very small amount of gas causes industrial problems:

[tomboyb] 25/7/2024 10:41

New appointment, cashed up till mid 2025 -

Lets get this moving -

[tomboyb] 25/7/2024 09:38

Lets hope this follows UPL trajectory -

[manual dexterity] 22/7/2024 13:55

Rns today. Good to see the addition and hopefully extract that big value of etinde.

[jordaggy] 22/7/2024 12:15

If only the Chinese were to run their numbers over Cameroon.

[tomboyb] 22/7/2024 12:10

hxxps://www.tipranks.com/news/company-announcements/bowleven-strengthens-board-with-new-director

Bowleven Strengthens Board with New Director

Bowleven plc has enhanced its board by appointing Mark Vermeulen as a Non-Executive Director, a seasoned investment professional with a 15-year track record in international bond and value funds management, particularly in the oil & gas sector. CEO Eli Chahin expresses confidence that Vermeulen’s financial, corporate, and governance expertise will be invaluable as they advance the Etinde project in Cameroon. Mark Vermeulen’s role is expected to complement the board’s existing strategy without holding a direct interest in the company’s shares, though his firm manages a stake in Bowleven.

[tomboyb] 22/7/2024 10:50

Spread a bit off-putting -

0.29p for 1 mill -

[tiswas] 22/7/2024 09:52

Stockopedia shows OVMK holding 15.2m shares and 0.81%.

Not saying it is necessarily right!

[ham74] 22/7/2024 08:48

Interesting on SNH, though Equatorial Guinea is really key.

OVMK DID in fact subscribe for the offering. Either Morningstar is wrong, or you may have misinterpreted the data.

Those subscribing for their full entitlement would not report any change of ownership.

If OVMK had not subscribed, their reported ownership would have gone down by 85%.

[tomboyb] 22/7/2024 08:48

22nd July 2024





Bowleven plc ('Bowleven')

Board Appointment



Bowleven plc ("Bowleven" or the "Company") announces that Mark Vermeulen has been appointed as a Non-Executive Director with immediate effect.



Mark is a partner, Chief Investment Officer and fund manager at Ophorst van Marwijk Kooy Vermogensbeheer NV ("OVMK"), a value-oriented investment firm focussed on both mid and small-cap equities in the UK, Hong Kong and Europe, and high-yield bonds. He has spent the last 15 years managing a range of international bond and value funds for OVMK, with significant exposure to oil & gas related investments. He has previously worked at Dresdner Bank as an analyst across a number of international equity funds. Mark is a CFA Charterholder.



Eli Chahin, CEO of Bowleven, commented:

"We are delighted to welcome Mark to the Board. Mark brings his extensive financial, corporate and governance experience. His appointment is complementary to the existing Board as we together continue to focus on the overall strategy of establishing Etinde as the foremost project development in Cameroon."



Further information in accordance with Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies (the "AIM Rules") is set out at the end of this announcement.

[warbaby43] 22/7/2024 08:36

Major stirrings at SNH:



Moudiki is 85, a long time henchman of Biya (now 91) and has been there since 1993. Whether in all the turmoil that there is, has been and will probably continue to be, there is any will or capacity at SNH to engage seriously with the JVP on Etinde and EG is a moot point.

As for the new Flying Dutchman, worth noting that OVMK have not only reduced their holding in recent years but, according to Morningstar, they chose not to participate in the recent fundraising.

Another finance and not O&G man and doubtless appointed at some ridiculously excessive remuneration just like the other two.

[tomboyb] 18/7/2024 12:15

etinde to be worth $155million to BLVN -

Needs an update on it -

[1lilac] 16/7/2024 15:14

CYP2C19 genotype testing to guide clopidogrel use after ischaemic stroke or transient ischaemic attack
In development [GID-DG10054]Expected publication date: 31 July 2024

[imjustdandy] 16/7/2024 12:13

Only needs one bit of positive news here - multi bagger potential

[imjustdandy] 16/7/2024 11:38

so 5m buys out of the blue. Have we got a deal on the LNG plant

[ham74] 01/7/2024 12:32

Well done.

The juiciest snippet there is possibly

"This is an LNG plant that isn't at full capacity, and there is opportunity here to third-party tiebacks".

If we presume he might be alluding to Etinde as a possible "third-party tieback"...

When should the Conoco deal complete?

[warbaby43] 01/7/2024 12:01

Since I originally listened to Conoco's webcast, they have since helpfully provided a transcript:



The relevant bits are in the intro and more fully in the Q&As:

Intro: Andy O'Brien - "Finally, in Equatorial Guinea, we'll add 2 MTPA of net LNG capacity to our global portfolio. Equatorial Guinea is a free cash flow engine for Marathon today and Marathon has been working hard to improve this asset, which is evident with the 5-year free cash flow profile that the company has recently outlined. As we further build out our LNG business, we will leverage our technical and commercial capabilities to enhance the value of these assets over time."

Q&As

Joshua Silverstein - UBS Investment Bank, Research Division - Analyst - "I was curious how the EG assets play into your LNG strategy. If you're thinking about accelerating any of the projects that Marathon had over there for the next couple of years? And as you're kind of thinking about matching up supply and demand offtakes, does this impact that thought as well?"

Andrew O'Brien - ConocoPhillips - SVP of Strategy, Commercial, Sustainability & Technology - "This is Andy. I can take that one. Again, so Equatorial Guinea, as I've said in the prepared remarks, it's a solid free cash flow asset, and I think Marathon has outlined a very credible plan for what they plan to do over the next 5 years or so. And also we look very closely at that. And that's sort of how we really sort of take a look at the asset. But as you referenced, there's upside here. This is an LNG plant that isn't at full capacity, and there is opportunity here to third-party tiebacks. And I think with our global LNG footprint, we see this as kind of another very interesting sort of liquefaction point as we're building out our global portfolio and ability to move LNG between Europe and Asia. So yes, it's going to be a very helpful sort of asset to add into our portfolio. And I should also mention, we kind of know this asset pretty well because it is using our Cascade technology. So we're very familiar with the facility and sort of what the abilities of the facility are. So yes, this is one that we're intrigued by, and it's a nice addition basically in terms of building out our global LNG portfolio."

In each case speaking is one of their SVPs, Andy O'Brien, an Anglo.

[ham74] 18/6/2024 12:38

Well spotted. Why doesn't Marathon just buy BowLeven?

[warbaby43] 18/6/2024 10:31

While this Conoco takeover of MRO, like similar others in the US, was plainly due to the synergy of both companies "unconventional" assets across the Eagle Ford, Bakken and Permian shales, the fear had to be that Conoco would have no interest in EG and that somewhere down the road their newly acquired Bioko asset would be put up for sale a process that would be likely to consume a couple of years. However, that conclusion might just be mistaken.

This is the link to the 47 minute Conoco conference call on the morning of the announcement:



From 14 mins are the Wall Street analysts Q&As and while mostly about the financials and the integration of the assets, at c40.41 there is a question from the UBS man specifically on EG which draws a full and quite encouraging response.

[warbaby43] 13/6/2024 14:41

Even if the Bioko route did have legs, this is highly likely to bring it to a shuddering halt:



Not least given:

"The transaction is expected to close in the fourth quarter of 2024" which in the sub glacial timescale of the O&G industry almost certainly means not until sometime in 2025.

Once Marathon is acquired Conoco will then have a strategic decision to make (if not already taken) on the retention or sale of the E&G asset and their only assets on the continent of Africa are in the North in Libya and Qatar so very difficult to see any likelihood of any new Punta Europa supply arrangements being entered into for at least the next two years.

As there has been recent Wall Street speculation on Marathon being a likely takeover prospect, this should come as no surprise to Chahin & co.

Let's hope there's a Plan 'B'

[ham74] 10/6/2024 12:28

The annual reports over the years include details of the valuation models used, which are also signed off by the auditors. They basically forecast the amount of gas, the price it is sold at net of any taxes, subtract costs and then apply a discount rate to the cashflows.

[tomboyb] 10/6/2024 10:17

How did they work out etinde to be worth $155million? -

[ham74] 08/6/2024 18:31

Manual, just checking for any board updates? I assume that is this bulletin board, and not the board of directors of BowLeven?!