Bowleven Share Price (BLVN)

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	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+0.625p	+2.04%	31.25p	30.75p	31.00p	31.00p	30.50p	31.00p	1,709,954	16:35:23

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	0.0	-97.3	-29.3	-	101.70

Related Shares
Shell A (RDSA), BP (BP.), Path Investmen. (PATH), Magnolia Pet (MAGP)

Bowleven (BLVN) Latest News

Bowleven News

Date	Time	Source	Headline
29/9/2017	11:09	UKREG	BowLeven Plc Total Voting Rights and Share Capital
28/9/2017	12:15	ALNC	Victoria Oil Extends Bomono Deal With BowLeven Again To End-2017
28/9/2017	11:50	ALNCF	Alliance News Flash Headline
28/9/2017	07:01	UKREG	BowLeven Plc Bomono Farm-out Extension
13/9/2017	09:06	UKREG	BowLeven Plc TR-1 Standard form-notification of major holdings
12/9/2017	11:31	UKREG	BowLeven Plc Notification of major holdings
31/8/2017	11:24	UKREG	BowLeven Plc Total Voting Rights and Share Capital
18/8/2017	11:55	UKREG	BowLeven Plc Board Change
05/7/2017	11:41	UKREG	BowLeven Plc Change of Registered Office
04/7/2017	14:00	ALNC	UPDATE: Victoria Oil Inks Deal With Cameroon Government On Logbaba

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Bowleven (BLVN) Discussions and Chat

Bowleven Forums and Chat

Date	Time	Title	Posts
20/10/2017	15:06	BLVN Bowleven (oil and gas) - new to AIM	40,648
16/10/2017	07:45	Stock Holders United (man u fans auto banned)	16,972
24/3/2017	17:17	60p final takeout.the COUNTDOWN is ON!	2
20/3/2017	23:11	how do we kick hart out	6
15/3/2017	20:31	L2 - Observations, comments and screenshots	96

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Bowleven (BLVN) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
2017-10-20 15:55:53	31.25	510	159.38	O
2017-10-20 15:43:50	31.00	20,000	6,200.00	O
2017-10-20 15:39:10	31.25	3,000	937.50	O
2017-10-20 15:35:23	31.25	3,000	937.50	UT
2017-10-20 14:48:42	30.85	50,000	15,422.50	O

View all Bowleven trades in real-time

Bowleven (BLVN) Top Chat Posts

Date	Subject
20/10/2017 09:20	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 30.63p. Bowleven Plc has a 4 week average price of 29p and a 12 week average price of 25p. The 1 year high share price is 37.50p while the 1 year low share price is currently 22.50p. There are currently 325,451,609 shares in issue and the average daily traded volume is 630,963 shares. The market capitalisation of Bowleven Plc is £101,703,627.81. Read Full Thread Reply
29/9/2017 07:46	hazydaisy: [...] these 2 undervalued small-cap stocks make you brilliantly rich? Thu, 28th September 2017 - 14:46 Share this The world of small-cap oil and gas companies is a shady place, but some companies have brighter outlooks than others. Victoria Oil & Gas (LSE:VOG), as well as BowLeven (LSE:BLVN), look to me to be two such companies. Victoria and BowLeven are working together to unlock value for investors. Earlier this year, Victoria signed a farmout agreement with EurOil Limited, a Bowleven subsidiary, to acquire on completion an 80% working interest in the 2,237 sq km Bomono licence, adjacent to Gaz du Cameroun's Logbaba field. Gaz du Cameroun is a subsidiary of Victora. Today, the two companies announced that they had extended this farmout agreement once again until the end of the year as they work with all parties to generate the best results. Falling revenue Even though Victoria is heading in the right direction, the company's results for the six months ending June, which were published today, show a contraction in revenue and profitability. As production increased by 11%, revenue fell to $15.4m, from last year's $23.6m and earnings before interest, tax, depreciation and amortisation fell to $4.4m from last year's $14.2m. Nonetheless, despite these uninspiring results, management is highly optimistic about the company's outlook. Commenting on today's figures, chairman Kevin Foo said "the challenge we now face is building our business into one which is four to five times our current size. I believe that this growth is achievable within five years." He continued that "GDC is very well positioned, as the only onshore gas supplier in Cameroon, to meet this demand." The potential gains on offer here for investors are clear. If management can hit its target of growing the business five times within the next five years, investors could be set to see a return of 500%. The risk here is that the company does not meet this target and instead (like many other small-cap oil & gas companies before it) runs out of cash. In this case, investors would likely see a 100% loss. Risking 100% for a potential 500% return is, in my view, an attractive bet. Unlocking value Investors could also see healthy returns from BowLeven as the company works with Victoria and continues to develop its portfolio. The company's interim results showed that the business had $90m in cash at the end of March, which is worth around 19.5p per share based on current exchange rates. On top of this, the deal with Victoria should unlock around $6m to $7m in direct revenues and royalties, corresponding to around $4m in post-tax cash flow, according to City analysts. The net asset value of the firm, including these prospective cash flows, is estimated at 53p per share, that's around 71% above the current share price. Putting it all together I believe that a combination of both Victoria and BowLeven in your portfolio could produce some highly impressive results. As Victoria grows, BowLeven will also benefit, and it looks as if the two companies are trading at a deep discount to their future potential today. Finding the best companies Even though these two small-caps look as if they can produce enormous returns, if things don't go to plan, the shares could end up being worthless. That's why it's important to do your own due diligence. To help you navigate the market and try to avoid any serious losses, I strongly recommend that you check out this free report, which is designed to help you improve your investment returns in just 10 easy steps. What have you got to lose? Click here to download for free today. Rupert Hargreaves does not own any share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Read Full Thread Follow Reply
03/8/2017 13:32	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!!!!! Read Full Thread Follow Reply
13/7/2017 13:58	pjj71: Clown ocean have some serious explaining to do and an EGM should be called at once... Coming on-board with an air of transparency they have delivered nothing but the destruction of value.. the share price has TANKED since they arrived and there has been absolute silence... given the near 40% damage they have done to the share price despite a stable oil price some deeply worrying questions need to be addressed by the release of an update... ABSOLUTELY SHOCKING MANAGEMENT... BRING BACK KEV NOW!!!! Read Full Thread Follow Reply
24/3/2017 15:02	nickmann: good post from iii poster. we can all become Malcy's very quickly. All we have to do is tip BLVN. In a couple of months (Max) it will have doubled and we can proclaim to be heroes.. Even Winett may then buy instead of sell. Is there anyone, anyone at all that doesn't understand or grasp that the sum of parts here are worth more than the current valuation? No, not a single person.... Even Winett who owes his recent sell price to COC will argue that the parts outweigh the valuation. So why are people selling? Emotion..and attachment... The aforementioned share guru for instance, would much rather watch the share price plummet, but plummet in the hands of someone he trusts, rather than watch the share price rise, in the hands of someone others tell him not to trust. There is only one way this share price is heading and that is northwards. Break the 40p with relative ease and get some rumours going about who may be eyeing up Etinde, some more about BLVN cancelling deal with VOG and look to hive Bomono off and add in the cash and rise will I feel be quite meteoric.. PS: Malcy, although not copyrighted, please dont use my post for your next "In-depth" analytical advert... (Shuddered when I heard him say "I think it holds a lot more gas than the company does" ) Read Full Thread Follow Reply
15/3/2017 10:52	le_commissaire: Winnet Just read your post re Sam Moody for CEO. BLVN with him in the seat? Now that IS something i would invest in. The situtaion with RKH is not the same as BLVN. Sam and the BoD have always been excellent at managing the stable such as the mini cash cows (Hart look and learn). The share price is the share price and the FLK's assets are the assets, the share price is merely an opportunity not a problem to me as an existing shareholder. One guy i have complete respect for and very content to be an RKH shareholder. His interjection with the partner for PMO fully showed his class last week. This is how Hart started on the BLVN track and at first was a powerhouse but was soured by a very inept and very poor choice of team players over time. Read Full Thread Follow Reply
15/2/2017 10:38	highasakite: ShareProphets RNS Translation Service – Bowleven names the day By Nigel Somerville \| Wednesday 15 February 2017 Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article. And so finally, this morning, AIM-listed Bowleven (BLVN) has named the day for the requisitioned sack-the-board EGM. The company first announced receipt of the EGM requisition from Crown Ocean on 24 Jan and three weeks on it has finally got around to calling it – for 14 March. Hurried this is not. The ShareProphets RNS Translation Service explains all…..(original in bold) Notice of General Meeting and Posting of Circular to Shareholders We got it all in the post on deadline day The Board's recommendation is to VOTE AGAINST all resolutions Please don’t hand us a P45 Further to the announcements dated 24 January 2017 and 8 February 2017 in connection with the requisition of a general meeting of the Company by Crown Ocean Capital P1 Limited (Crown Ocean), Bowleven announces that the circular (the Circular) containing the notice of general meeting (the General Meeting) has been posted to Shareholders. The Circular is available on the Company's website at www.bowleven.com. We moved as quickly as we could to get the paperwork sorted – almost as quickly as we are delivering true shareholder value. Key sections from the Circular, including the letter from the Chairman and the detailed response to, and rebuttal of, the statement by Crown Ocean accompanying its notice of requisition are set out at the end of this announcement. Of course, we’ve not included what Crown Ocean has to say in this RNS so you aren’t quite sure what we are rebutting (or what we are not). The Board's recommendation is that Shareholders VOTE AGAINST all resolutions Just in case you didn’t get that the first time, please don’t hand us a P45 The Board unanimously recommends that Shareholders VOTE AGAINST all of the resolutions to be proposed at the General Meeting (the Resolutions) for the following reasons: .....or the second · Crown Ocean is not offering Shareholders a fair deal Always a good way to start, throw a bit of mud. It is not that Crown is looking to trouser all the cash for itself, you understand, or that Crown is proposing that some shareholders are treated more equally than others. But it is clearly all very unfair. Surely you see that? It certainly is unfair on us as a P45 would mean the end of the gravy train for us and put a stop to all that shareholder value we have delivered. · Crown Ocean's plans substantially reduce the Company's options and ability to maximise value for Shareholders Given that until the EGM was requisitioned our shares were trading below cash and Crown plans to return the cash this is obviously a well-reasoned argument. Surely you see that too? And we’ve got oodles and oodles of jam-tomorrow (as we always have had) once we have very carefully and selectively splurged lots of money on drilling campaigns, remuneration and perhaps the odd acquisition. As you all know, our record on exploration work is remarkable whereas Crown just wants to return the cash and get the best value it can from the assets. · Crown Ocean's intent is to create a holding company, strip the cash and leave the Company unable to pursue value creation opportunities That argument obviously works in the light of our most excellent record of value-creation in the last few years. It certainly has created value for us. · Crown Ocean is not presenting a credible strategy to realise long term value from Bowleven's assets Obviously handing back the cash and realising the assets instead of allowing it all to wither away on failed drilling campaigns and excessive boardroom remuneration and administrative expenses is not a credible strategy. Surely you see that? · Crown Ocean intends to remove the existing board of directors, delivering stewardship of the Company into the hands of unvetted and inexperienced Crown Ocean appointees As an AIM-listed company the Nomad will have to vet all appointees. But that doesn’t count, obviously. As for inexperienced, that’s a great line. And despite the fact that the proposed new board will be appointed by the company’s shareholders (assuming a win for the rebels), we’ll call them appointees of Crown. · the Resolutions would result in the nominees of a 15.56% minority shareholder controlling the Board, leaving it with no independent directors representing the interests of Shareholders as a whole and rendering the Company non-compliant with applicable corporate governance guidelines We won’t mention here that Crown is saying that the proposed new directors are, in fact, strong, independent and of sound reputation and experience. Nor will we address Crown’s point that four of the current seven directors of the company are ex-Cairn executives of advisors, including two NEDs. That’s independence for you. · Crown Ocean's vote against the share buy-back programme has already damaged Shareholders by removing a tax-efficient way to return excess cash So is handing out the cash by way of a return of capital, but only if the return of capital crystalises a loss. Oh, er….. · Crown Ocean's plans will remove valuable knowledge of the assets and well-established relationships and interfaces with key Cameroon decision makers This is why Crown has been buying more shares in the company – it obviously wants to put its own cash in jeopardy. · Crown Ocean's proposals remove Shareholders' best chance to maximise value That is why the share price has been going up steadily since the EGM was requisitioned. Shareholders are obviously extremely fearful of what Crown’s proposals will do to their investment. Crown’s proposals would also remove the current board’s best chance to realise value for itself from remuneration packages, but we’d best not mention that. The Board, in making its recommendation to VOTE AGAINST the resolutions proposed by Crown Ocean, also asks Shareholders to consider the following: ….please don’t hand us a P45 · The Board is committed to maximising value from the Company's assets through the implementation of its corporate strategy …which has been so successful to date · The Company is staffed with experienced oil and gas professionals focussed on creating value and delivering material upside to all Shareholders …and not just Crown. We just wanted to sling a bit more mud there. Obviously all the other staff will all walk if we are sacked – that is a perfectly reasonable assertion. · The Company is in a position of strength and the Board is best placed to deliver for all Shareholders ….until we are sacked. · The Company already has a Board compliant with applicable corporate governance standards, providing Shareholders with effective and appropriate governance for their investment ….which we really want you to believe will not be the case if Crown gets its way. And you can really see the benefit in the way we have delivered shareholder value over the years. ShareProphets is happy to continue to support the rebels and will celebrate the removal of the fat cats currently in charge. We urge shareholders to get in touch with www.Bowlevenholders.net Crown’s reasons for calling the EGM can be found HERE. Read Full Thread Follow Reply
02/2/2017 07:03	thatbrat: COC vs KH vs BLVN The COC OPTION, if implemented via their proposed resolutions, will provide for some cash component returned to investors, a likely share price collapse, and asset strip / sell-off of assets at a small return (likely 100% profit for COC though). Those PI’s trading BLVN will make some money, those invested as LTHs will likely lose out… True asset value will NOT be realised by any shareholder... The KH OPTION would decline all of the COC resolutions, and keep everything as is, and await progress on Bomono by the BOD, and on Etinde by NA/CamGov. An uncertain timeschedule would see share price valued at cash in bank, this declining, until any positive operational progress is announced. This option has the potential to (eventually!) unlock true asset value…or to simply erode cash down to zero over the next 5-6 years…Or KH manages a sale of BLVN for a price which realises true asset value (minimum +1gbp). For this option to be attractive to shareholders, Billy Allen must implement a rigourous performance schedule, marked salary reductions, to be replaced with stock option based on specific individual and BLVN performance, accountability and deliverability on positive cashflow & strategic goals. Bowlevenholders recently published KH resume is damning though… The BLVN OPTION (the ‘Hartless̵7; option!) supports the company itself, not KH, and takes advantage of the COC resolutions to remove only KH, but leave the rest of the BOD intact, for those who blame KH entirely for BLVNs lack of delivery. This option might allow for Billy Allen to install a new CEO to invigorate BLVN, would retain and ‘motivate̵7; the rest of the BOD to deliver, and would block COC from asset-stripping the company. As suggested by many here, a performance schedule, high salary curtailments, performance-related stock options in lieu, accountability and strategic goal delivery are all requisite. IMHO, the COO is responsible for lack of delivery of strategic goals and should go immediately. KH, as CEO, has emplaced a strategy which is waiting to deliver (potentially significant and maximum value), and should be allowed 6-12 months to implement, via a new COO. Losing COO Clarkson also puts a big hole in the COC plans…He has delivered nothing, bought minimal shares…no loss… As shareholders, we should not be making our voting about KH, but we should be voting for the best value-creation model for BLVN. Read Full Thread Follow Reply
02/2/2017 04:34	thatbrat: COC vs KH vs BLVN The COC OPTION, if implemented via their proposed resolutions, will provide for some cash component returned to investors, a likely share price collapse, and asset strip / sell-off of assets at a small return (likely 100% profit for COC though). Those PI’s trading BLVN will make some money, those invested as LTHs will likely lose out…True asset value will NOT be realised by any shareholder... The KH OPTION would decline all of the COC resolutions, and keep everything as is, and await progress on Bomono by the BOD, and on Etinde by NA/CamGov. An uncertain timeschedule would see share price valued at cash in bank, this declining, until any positive operational progress is announced. This option has the potential to (eventually!) unlock true asset value…or to simply erode cash down to zero over the next 5-6 years…Or KH manages a sale of BLVN for a price which realises true asset value (minimum +1gbp). For this option to be attractive to shareholders, Billy Allen must implement a rigourous performance schedule, marked salary reductions, to be replaced with stock option based on specific individual and BLVN performance, accountability and deliverability on positive cashflow & strategic goals. Bowlevenholders recently published KH resume is damning though… The BLVN OPTION (the ‘Hartless̵7; option!) supports the company itself, not KH, and takes advantage of the COC resolutions to remove only KH, but leave the rest of the BOD intact, for those who blame KH entirely for BLVNs lack of delivery. This option might allow for Billy Allen to install a new CEO to invigorate BLVN, would retain and ‘motivate̵7; the rest of the BOD to deliver, and would block COC from asset-stripping the company. As suggested by many here, a performance schedule, high salary curtailments, performance-related stock options in lieu, accountability and strategic goal delivery are all requisite. IMHO, the COO is responsible for lack of delivery of strategic goals and should go immediately. KH, as CEO, has emplaced a strategy which is waiting to deliver (potentially significant and maximum value), and should be allowed 6-12 months to implement, via a new COO. Losing COO Clarkson also puts a big hole in the COC plans…He has delivered nothing, bought minimal shares…no loss… As shareholders, we should not be making our voting about KH, but we should be voting for the best value-creation model for BLVN. Read Full Thread Follow Reply
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. Read Full Thread Follow Reply
12/10/2016 17:29	iamthedogman: Following the reply from BLVN to my recent email I sent a further email to the Head Concho expressing my displeasure with the nature of said reply...................... Good Morning Kevin, My name is ..........and I am a long term investor in Bowleven. I recently emailed the company stating the concerns I have regarding the current situation facing the company. For your information I enclose below copies of both emails." .................................................................................... Sent: 03 October 2016 09:08 To: IRqueries Subject: re Bowleven I am a long term investor in Bowleven plc. After just receiving the $15m re the Etinde Farm-Out you state that we now have cash of approx. $100m. At the end of March 2016 the company had cash of approx. $100m. I understand that there are salaries and day to day running expenses but could you please explain how the company has managed to spend £15m in the last six months with no other apparent expenditure activity being notified by the company ? Yours faithfully, .......... .................................................................................... Dear Mr ............... As disclosed on 3 October 2016, the company held circa $100 million cash at 30 September 2016 and no debt. This figure includes the $15 million that was received from Lukoil and NewAge on the 30 September due date. In our interims results issued on 30 March 2016 we indicated that Group had cash of circa $100m and no debt on 29 March 2016. In the intervening period cash movements have principally resulted from cashflows relating to drilling/testing post completion of these activities at Bomono and ongoing running costs including those associated with both our assets in Cameroon. At a corporate level we have also been executing our previously announced share buyback programme. Regards, Bowleven IR The Cube \| 1st Floor \| 45 Leith Street \| Edinburgh \| EH1 3AT .................................................................................... Text of my email to Kevin Hart - I am sorry Kevin but the vague response I received from the company is not acceptable. As a result of the Etinde Farm-Out the company received an initial substantial cash injection and has now just received a further $15m. I am seriously concerned at the rate of cash burn by Bowleven to such an extent that the cash balance held by the company now stands at only circa $100m. And what have we got to show for such a depletion in our funds ? The company has not adhered to any of its timescales, the progress at Etinde is now completely out of our control, the current fiasco at Bomono where vast amounts have been spent on the Bomono permit, coupled with unacceptable rig problems and where at this time we are still completely in the dark as to when the licence will be granted by the Cameroon government. During the whole of the period since the Farm-Out, the company has continued to pay high end salaries and administrative costs of circa $12m per annum in a small cap company currently valued at circa £80m. How can you state your intention is to enhance shareholder value when the share price is currently languishing at 25p. In my opinion the market has lost confidence in the board and its inability to take advantage of our privileged position. At the time of the Farm-Out we were cash rich and debt free. Since then the continued cash burn has shown to date nothing positive to enhance the share price Agreed we are in difficult times, but in our strong financial position we were ideally placed to take advantage of the acquisition of distressed but potentially attractive assets at discounted prices. The company has achieved nothing in this direction and the market has reacted and made its decision accordingly. In my opinion with no other alternatives and as a last resort the company introduced a belated buy-back programme. Apparently even this exercise was mis-managed, the programme being introduced just before a closed period, thereby precluding any buy-back action for two months. As I stated previously the progress of our "world class asset" at Etinde is totally out of our control. There is a strong possibility that in the current climate Etinde will not be drilled in 2017 and if that happens I can only see the share price of Bowleven heading south, with a further depletion in our cash pile and nothing to show for it as a result of a further period of inactivity by the Board. Unless positive news is delivered before the AGM that drilling is forthcoming on Etinde in 2017, then in my humble opinion it's time for new stewardship. I can no longer sit here and watch the cash pile reduce at such an alarming rate. There is absolutely no reason why, with such limited operations we should be eating through circa $12m per annum and in the last six months circa $15m. It's just not acceptable....... I trust you will have the decency to personally reply to this email. Yours faithfully, ............................................... Reply I received to the above email: Dear Mr ........ Kevin has asked us to respond to your email. Firstly, we understand and appreciate your frustration with the share price. Against a macro-economic environment of prolonged lower oil prices and continuing low sector sentiment it remains a challenging time for the industry. We believe this environment also creates opportunity, however, and we are actively screening opportunities alongside the progression of our existing asset base. Such evaluation does take time with rigorous processes required to ensure such transactions are in the best interests of shareholders – only once an opportunity has matured to an appropriate stage will an announcement be made. By way of an update on the Company's activities, with respect to our offshore Etinde asset, discussions are ongoing with partners and government officials regarding a number of development opportunities for the licence. As a reminder, the JV remains focused on drilling the two appraisal wells to prove up additional resource volumes, and is targeting 2017. With regards the onshore Bomono Permit, our focus is on the progression of the EA application with the Cameroon authorities. The award of the EA is integral in progressing development activities on the licence. Finally, we will ensure your view's are passed on to the executive team. Thank you for your continued support in Bowleven. Regards, Bowleven IR The Cube \| 1st Floor \| 45 Leith Street \| Edinburgh \| EH1 3AT .................................................................................... Well that was a waste of time......our Lord and Master didn't even have the balls to reply to me personally, instead and as expected the so called reply came from our beloved IR team..........none of my queries or concerns were directly addressed or answered and no apologetic noises were forthcoming as to the reasons for the fast dwindling cash pile. A typical standard IR same old same old waffling reply........they must all feel so snug and comfy in their dollar lined ivory towers. IMHO the slightly disconcerting and only point of note in this reply ....... was the reference that the drilling at Etinde is now referred to as just "targeting 2017" ( griff -by the way, please excuse me for using some of your thoughts on one of your posts but it summed up exactly my feelings.) And so the saga continues my friends................ Read Full Thread Follow Reply

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