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
  0.25 5.26% 5.00 55,107 11:05:02
Bid Price Offer Price High Price Low Price Open Price
4.50 5.50 5.00 4.75 4.75
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -2.12 -0.81 17
Last Trade Time Trade Type Trade Size Trade Price Currency
14:00:18 UT 11,448 4.51 GBX

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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 4.75p.
Bowleven Plc has a 4 week average price of 3.50p and a 12 week average price of 3.50p.
The 1 year high share price is 8.90p while the 1 year low share price is currently 2.10p.
There are currently 335,272,933 shares in issue and the average daily traded volume is 154,924 shares. The market capitalisation of Bowleven Plc is £16,763,646.65.
warbaby43: Back to good old risk and reward, gark, and I agree that there are good solid reasons that it should all come together but it will just take more time than could ever have been envisaged pre Covid When it does, a sale to Lukoil, NA or A N Other still most likely, but at what price and here we may differ. I can't see the $229m that your 50p per share would equate to at $1.37, but $100m would be only $1.50 per boe with the $25m FID factored in and that can very easily be envisaged. Similarly, $125m could also easily be on and perhaps even $150m, especially if, the post FEED, seismic reprocessing and FDP, pre FID audit returns BLVN's 20% stake to c60m boe - not an unrealistic expectation. Near shore, shallow water Etinde, with its gas and liquids, has a lot going for it not least the relatively low cost of development, especially when compared with the likes of of the deep water Senegal asset Lukoil tried to buy from Cairn for $400m before Woodside stepped in and pre-empted them - see pages 14-16: Https://
welshki: Hi Dealy.......I'd say that chance is slim to none. As we are no doubt all aware COC by their very nature aren't likely to want to tie their large investment down forever and a day, the time needed and risk associated with taking this all the way through to production, in my opinion, isn't their business model. Plus there is the dividend payout of 15p, it would seem odd to hand out all that cash knowing the large amount of money they would need to go into production. With FID would come the possibility of raising money via debt but it just doesn't seem the most logical approach. I think Etinde and by extension BLVN is going to be sold shortly after FID to either Lukoil or New Age. The price, who knows, I am just glad KH is not negotiating that for us anymore! The most interesting factor for me is the CEOs 10,000,000 options which only trigger at 45p. Seems a crazy price point considering the share price now but they set it knowing all that we know now......just wonder does that 45p include the 15p divi so a sale could happen at 30p and options still trigger, or does a sale need to be at 45p no matter for thought
welshki: Dealy pay no attention to winnet he is a very bitter ex-shareholder, with zero class, that lost the vast majority of his investment here. An individual that was promoting BLVN at way over 200p and worshipping the ground Kevin hart walked despite the multitude of his failings, some the product of incompetence, others complete lack of fiduciary responsibility and some, I have heard on the grape vine, down to corruption. Either way winnet didn't bat an eye lid, or utter a single word of criticism throughout the entirety of KHs utterly shambolic reign here. Winnet has always said COC will run off with all of BLVNs cash (despite never providing a single shred of reason or logic) and even now when they paid out 15p to ALL shareholders, he is still not willing to accept reality and admit that COC are far better custodians than KH was, and ever could be. Winnets opinion is and always has been derived from either stupidity or dishonesty. Always whinging that COC "stole" this company, despite a completely legal and above board takeover that was allowed to happen due to KHs dismal performance. Fact is KH put the company in its woeful position way before COC arrived. COC have not done a single thing illegal, underhanded or irresponsible during their tenure and its desperately embarrassing winnet still can't accept that and still turns up like a sad little man when ever the share price drops.
warbaby43: With hat tip to happy sparrow (and ctc1) over at LSE VOG site: Https:// 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.)
gordan ghetto: ANA is the best UK cannabis stock Share price 1.1p Only £6.4m mkt cap Fastest growing sector worldwide Will have first mover advantage in UK Same growers as GW Pharma 4 biggest shareholders hold over 50% BOD own 30% Massively undervalued (£6.4m mkt cap) Near term multi bagger on license approval Partners with leading prof , scientists etc Primed for a RTO/ main listing (price driver) Under the radar (most chased MXC,CBX) Looking to bring a product to market Off take agreement in place already Will be producing 200 TONS per year (200,000 kilos) Has the most land out of every cannabis co Fully funded for phase 1 UK medical cannabis growing 20% month Only 584m shares in issue Hardly any available in open market Will apply for a commercial license too Worth getting in on the ground floor imho. hTTps:// hTTps://
buy_more: here is the report from 2017 with the explanation about the "Bowleven Transformation Incentive Plan". on page 23 are the details as copied below where it's agreed that the share price has to be between gbp 0.45 - 0.80 for a continuous period of at least 3 months. hTTps:// Bowleven Transformation Incentive Plan The BTIP was adopted by the Board of the Company on 9 May 2017. The purpose of the BTIP is to align employees with the Company’s long-term goals and performance through the potential for share ownership. Awards under the BTIP are granted at the sole discretion of the Remuneration Committee. As announced on 12 May 2017, Eli Chahin, the Chief Executive Officer, was granted a right to acquire up to 10,000,000 ordinary shares in the Company at a nil cost under the BTIP. The Option shall be exercisable subject to and in accordance with the rules of the BTIP, including the extent to which certain performance conditions are satisfied over the performance period commencing on the date of grant and ending on 31 March 2022. The Option’s performance conditions relate to the attainment of certain share price points between £0.45 and £0.80 per share for a continuous period of at least three months and meeting the annual cost underpin criteria, whereby the annual cash costs incurred must be below the amount set out in the cash expenses target set by the Board. Malus and clawback provisions apply. Options under the BTIP which vest may be exercised within ten years from the date of grant.
warbaby43: This is a dollar industry so rather than first thinking in terms of pence per share, more relevant perhaps to think of what dollar price BLVN's 48.8m boe might be sold for and guestimate what the £/$ rate might be and attempt then to work back towards a range of possible share price So far as production and the possibility of dividends are concerned, it's going to be at least three years before production, and financing is going to be expensive, given political and surety of gas income risks. Additionally, the other partners are likely to wish to continue drilling, given the raft of other significant prospects that lie within Etinde, so a significant chunk of income remaining after financing is going to be required to fund BLVN's share of those costs. Throw in the fact that Lukoil's present 30% share entitles it to just c73m boe and the most beneficial outcome for both parties would seem to be for Lukoil to buy BLVN near to or soon after FID, so that their share becomes c 122m boe - much more appropriate for an oilie of their semi major size. Many more pages still to turn in this story but, at least, there should be a steady flow of updates from now on in.
warbaby43: Blimey, two positive RNSs in three days with the second, despite the triggering transaction(s) being for a trifling 500k shares, being of rather more consequence than the licence announcement. Should HSBC continue to add, that will certainly provide a boost but what would really ignite the share price would be the arrival of another 3 percenter+ and/or, better still, a hefty management share purchase. Given his mega salary and receipt of a £170k dividend, not as if Chahin couldn't afford it.
nufckk: Regarding the share price....the Bowleven Transformational Incentive Plan expires in March 2022. I have a lot of time for Eli and believe him to be a good guy, but unless he hits his target by December next year (the share price needs to stay above target for 3 months) his free 10,000,000 shares are toast. Now that would focus my mind.
warbaby43: This was the 3rd May 2018 RNS I was referring to at 18943: "Further to the announcement of 14 December 2017, the Board has decided to delay a decision to appoint a new external Non-Executive Chairman until there is more clarity on the likely outcome of the results of the two well appraisal drilling campaign on the Etinde field, expected to commence in Q2 2018. In the interim period, Bowleven is pleased to announce that Matt McDonald, currently a Non-Executive Director of the Company, has been appointed Interim Non-Executive Chairman, with immediate effect" So I guess the question is will Mr Arnoff be subsequently elevated to the chairman role or will there be another appointment of a new non exec chairman to balance the board between two COC men and two independents. Clearly, the Conference Call can supply the answer. Meanwhile, by BLVN standards, the 7/10/20 Update was quite cheerful in tone with the final paragraph being particularly interesting: " The JV continues to benefit from a collaborative working relationship with a wide range of stakeholders to obtain the support required to reach FID, which represents the key objective in the short term. This includes the JV obtaining the licence extension at Etinde. All parties are confident of achieving this and will update the market further in the release of Full Year End results." The reference to a licence extension can only mean an extension of the Exploitation Licence beyond 2034 and it does seem quite likely that the extension issue was part of the wider negotiation with SNH on the terms of their Etinde participation which would be a significantly positive step. What it also does is alleviate any lingering minimal concern over the government's January break clause. With the share price sorely needing a kick up the backside, can we now also expect Elbrus taking a significant stake in BLVN for their Oil Recovery Fund.
Bowleven share price data is direct from the London Stock Exchange
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