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 Shares Traded Last Trade
  -0.075p -0.30% 25.125p 405,115 16:35:14
Bid Price Offer Price High Price Low Price Open Price
24.85p 25.40p 25.95p 25.00p 25.05p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -5.33 -1.51 84.2

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Bowleven (BLVN) Top Chat Posts

DateSubject
14/11/2018
08:20
Bowleven Daily Update: Bowleven Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker BLVN. The last closing price for Bowleven was 25.20p.
Bowleven Plc has a 4 week average price of 24.50p and a 12 week average price of 24.50p.
The 1 year high share price is 40.50p while the 1 year low share price is currently 24.50p.
There are currently 335,272,933 shares in issue and the average daily traded volume is 306,169 shares. The market capitalisation of Bowleven Plc is £84,237,324.42.
11/11/2018
15:46
cyan: Good afternoon 1retirement. Have not read TW's prose. What-ever he writes we have to look at the facts as to where we are now. Circa 20p per share in cash with 5p to come on FID. Our share of ETINDE is valued at nothing it seems. If you were an uber pessimist and fear that NA & Lukoil will throw away their circa $250m investment in ETINDE and walk away ; then the share price is about right. If you believe ETINDE will be developed; then the price looks like an opportunity.
09/11/2018
13:40
warbaby43: “It’s inconceivable that a reserve of this size can not be monetised at such a level that shareholders who have come in over the last two or three years can’t get back the money they have invested.” "Chahin's latest comments based on last 3 years share price suggests they think we'd be lucky to get over 40p" C'mon cyan, being conservative is one thing but being depressive is quite another! It's a remarkably bold and confident statement for a CEO to make and the only words that are missing, but are surely implied, are "at least" (NB COC's ave price is c28p) Top up your glass to past half way and ponder your 38p being the equivalent of just $62m for the BLVN share of Etinde - barely more than one dollar per barrel for the present 20%'s 58mboe or less still for 25%'s 72.5mboe and that's before ANY uplift. My arithmetic - $100m cash at FID = £77m (at sterling $1.30) and with 327m shares = 23.5p per share so then for Etinde 14.5p per share x 327m = £47.4m = $61.6m At FID too, the 1.1 tcf, or whatever the uplift might get it to, will then be "reserves" and not just "contingent resources" Meanwhile, when the time comes, and I don't believe COC are in the hurry assumed (they weren't with EuroHypo Bank bonds,) let's also hope that the dollar is then even more mightily strong. As always corrections, especially to my arithmetic, welcome.
22/10/2018
17:05
cyan: We have a bonus ,unexpected, interval flowing; "17.1 mmscf/d and 8,780 bopd". Hardly bad new is it? Just because the volumetric s have not yet been worked does not mean this not potentially very significant. We had a share price of circa 40p on what we THEN knew. The two recent drills were about ADDING value; and they have; A large increase in the 'area' of ETINDE (awaiting volumetric s) and an 'unexpected' interval which flowed VERY well. At least we have a lot of cash which gives a base for the share price to recover from. Another conference call can not come too soon. I wonder if there will be an early really low opportunistic offer for BLVN's percentage.
22/10/2018
13:57
slipanchor3: warbaby43 Good post you have put most of my thoughts into words. What confuses me is why has the market marked it down they very rarely get it wrong unless they are waiting for the final analysis of the appraisals and a plan forward for FID. The problem I suspect with the share price is that there are so few shares now in the hands of PI'sthat the share price can be manipulated in any direction especially with the use of algo's. I'm sure most people on this board have witnessed the huge swings with so few shares traded and the lower the share price the better the offer looks to the market. I would say if any of our peers had any desires to take out BLVN they may never find a better opportunity bearing in mind Lukoil and New Age bought into Etinde on the strength of contingent resources.
05/10/2018
11:13
rm137: secs in the city, warbaby43, regretfully it's worth clarifying what it takes to book 'Reserves' as compared to 'Contingent Resource'. Whatever the estimated discovered hydrocarbons at Etinde, it is classified as Contingent Resource until a development scheme has been established, including a route to market. You don't necessarily need FID, but you do need a clear line of sight to FID, and that means a FEED study(Front-End Engineering Design). And in the case of a gas development in West Africa, for a Reserves booking, there also needs to a gas sales agreement. And given that Etinde would be developed under a PSC (production sharing contract) with SNH (Cameroon state hydrocarbon), then this needs SNH approval, and under Cameroon petroleum law that also means Presidential approval is required for a project to proceed. Therefore without a development scheme, gas contracts and SNH approval, there can be no Reserves booking. However, that's not to say there isn't value in Contingent Resource. But as we've seen in the Bowleven share price, Contingent Resource doesn't get realised in the share price unless there is clear line of sight to FID. So, we should not expect a Reserves booking. As regards the estimate of both liquids recovery and recovery factor, for a gas condensate development in multiple reservoir intervals at different pressures, the recovery factor will be a function of the wells count and production strategy. And the prices paid would be a function of the gas sales agreement, the liquid yield and the condensate prices at the time (3-5yrs ahead of now). With a PSC arrangement, there is also allowance for cost recovery, but the price for liquids is often governed by the PSC terms. Therefore, I would be very cautious with quoting recovery factors and valuations until the development scheme is established, a gas sales agreement is reached and agreement with SNH established. As I have said before, this does not mean that the Bowleven share price can't move on good news.... the news required is clear signs of commitment from the operator, New Age, to a development...and that will be the FEED contract. Once there is a FEED ongoing, there is everyone reason to expect that the value of Etinde should be realised in the Bowleven share price. At the point, Bowleven's best option is to monetise and get out, since it will otherwise have to raise 25% of the development cost...
21/9/2018
12:03
cyan: I wish I recorded the call now. Why take it down?. Here is a bit I started to transcribe; Question from Ahmed "..your current market cap is around $115 million of that we said about 85 to 90 million is cash and securities, and then you have the contingent cash on FID of $25 million, so, you know,essentially what i am trying to say is; the stock price today is reflective of the cash and FID and, you know,in your opinion, why do you think the market or investment community at large is failing to value or acknowlege the resources in Etinde; we're talking about, you know, 300 million in barrelsa of oil equivalent, more or less in Etinde, of which 60 million is Bowleven's share. Conservatively by our estimates that's 25 to 30p, so that's another 75% of upside to this stock. It just, you know, baffles us that the market does not acknowledge that." Reply "I think that's a fair comment Ahmed. clearly we're disappointed that the value of Etinde is not reflected in the share price, in fact, if youb do break it down as you have` in terms of the cash component ; the FID and of course, the carry; we get to where the current share price is currently which effectively values ETINDE at, you know, very low numbers. Certainly , you know, we are no-where neare where we would like to be. I think one of the problems with small oil & gas companies is its really hard to view or see how quickly this assets going to take to monitization. The history of Etinde has been disappointing in terms of the delays in appraisal program and i think the challenges of work in west Africa are well docomented. I think as we get closer to a development option that's sanctioned by the government; there's no question, in my mind, that we will get there , and i think the catalyst are, of course, the test results , and when they come in, and when we have a more active engagement from the governmentwho is quite keen to see this asset developed, and there has been........" sorry that's as far as i got
17/8/2018
10:35
ramayer: Bit of a mixed RNS for me, initial disappointment quickly passed and I think there is some potential positives to take. Firstly, the main aim of the drill " to delineate the wet gas/water contact location” has been achieved. “will allow a revised estimate of the condensate bearing wet gas/water reservoir volume in the 410 intra-Isongo sandstone gas condensate discovery. The Etinde field has discovered wet gas in place of c 0.9-1.1 tcf. “ Will this lead to increased or decreased volumes? Potentially it could firm up high end volumes so be a firm positive. The second is this paragraph "The gas logging data collected in the 310 intra-Isongo showed gas shows during drilling. Well log data and reservoir fluid samples taken provide a good indication that, the Middle Isongo sections in particular, are of interest as the two horizons both show condensate rich reservoir fluid samples." In my eyes that’s a potential discovery of rich condensate which could be very valuable data for our Partners and might potentially be revisited after further analysis. (data like this wont help share price of small AIM company’s but it will be of great interest to our buyers and the long-term future of Etinde) All being said and done it might not be a huge commercial discovery but I bet there lots of important and valuable data to be learnt from this complex drill. I doubt we will ever know the finer details of every part of this drill program and I would have thought our partners will be a little subdued and conservative with any positivity due to political tensions and the fact they could be buying up our share of the field. The relatively low volumes over the last few days points to no serious players exiting and a strong resilience in the share price around 30p. We get another stab at a discovery and DE risking other prospects on our next drill IE-4, so onwards and upwards.
13/12/2017
12:33
pjj71: Oil price skyrocketing.. Oil Drills announced and the BLVN share price tanks.... where are those Muppets who try and defend crown crook ocean now???? Bring Back KEV!!!
03/8/2017
12:32
pjj71: Dunderheed.. not sure what planet you live on!!!! The near 40% collapse in the share price since the EGM says one thing and one thing only.. KEV was the preferred choice of the market to take BLVN to greater things.... if you think the clowns were the preferred choice then why has the share price sunk like the titanic when the oil price has been static... Good news normally sends a share price up, Bad news sends the share price down.. im sure you can understand that basic principle... The fact that the clowns have wiped millions of $$$s of the mkt cap since gaining control tells you they are BAD NEWS for BLVN!!! The only solution is to bring back KEV!!!!!
25/1/2017
18:56
thatbrat: Value of Etinde - ShareProphets and various individuals on ADVFN/LSE/iii are quoting the value of Etinde at around 50-60MM.$ (including 40MM.$ carry for two appraisal wells; 25MM.$ at FID), and simply adding that value to the current cash in the bank, to derive a BLVN target share value of 35-50p. Disregarding the carried wells (which are impossible to directly convert to 40MM.$ cash value), you only access the 25MM.$ on FID, and if you access FID then you are 1 year away from massive revenue stream coming online…so why would you sell your shares at 50p AFTER FID was passed and significant share price upgrade imminent? Makes no investment sense… Additionally, the above evaluations are taking no account of the actual value of the hydrocarbons in the ground. The FIRST YEAR alone of gas and condensate sales from Etinde (using IM-5 well data of 60MM.scf/d and 130bbl/MMscf, 10$/MMscf gas; 65$/bbl.condensate, quoted publicly) from 3 producing wells (IM5 plus two appraisal wells) would yield, for BLVN’s 20% share, 242MM.$, which discounted at 10% from 2015 is 165MM.$ value today (equates to 52pps). In the FIRST YEAR! So to ‘breakup’; / ‘asset-strip’ / sell BLVN at 50p per share (ie for effectively 1st years revenue) would be a senseless tragedy, when 20+ years of further revenue are still to come. At the very least BLVN breakup values are considerably higher, as current fully monetized BLVN share price valuations of Bomono plus Etinde approximate to 205p (with Etinde=1TCF, the current resource status); 676p (Etinde=3TCF, this is the P90 of the 2 carried appraisal wells); and 1455p (Etinde=6TCF, P10 of the 2 carried appraisal wells). A new board, cannot create new value, because it cannot action change now that BLVN does not operate Etinde. A new board will truly destroy value wrt BLVN share price potential. Current share price movements beyond cash, without operational progress, are ‘smoke-and-mirrors’ value. Disregarding the Bomono disaster, Etinde progress is now out of the hands of BLVN, and awaiting overall ‘partner alignment’, NA operator/CamGov agreement on development plan, drilling of 2 wells, and FID. Vote against the COC proposal. Allow NA/CamGov to progress to FID and realise true share price potential.
Bowleven share price data is direct from the London Stock Exchange
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P:43 V: D:20181114 23:36:53