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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
  0.00 0.0% 1.70 76,630 08:00:22
Bid Price Offer Price High Price Low Price Open Price
1.40 2.00 1.70 1.70 1.70
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -1.43 -0.72 6
Last Trade Time Trade Type Trade Size Trade Price Currency
08:44:21 O 32,894 1.52 GBX

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2023-01-26 14:43:081.8635,380657.33O
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Posted at 27/1/2023 08:20 by 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 1.70p.
Bowleven Plc has a 4 week average price of 1.58p and a 12 week average price of 1.58p.
The 1 year high share price is 6.25p while the 1 year low share price is currently 1.58p.
There are currently 335,272,933 shares in issue and the average daily traded volume is 284,800 shares. The market capitalisation of Bowleven Plc is £5,699,639.86.
Posted at 18/1/2023 12:57 by warbaby43
gark is the real old timer here and a visit to the LSE board tells you that some on there date back to when the share price was expressed in pounds and not pence.

Hard to be overly amazed when the delay is down to a combination of the O&G industry and a W African government with it being a toss up which of them habitually moves at the more sub glacial a pace

With it now being over four years since end of drilling all v frustrating, but first year plus was lost by the ridiculous time it took for the resource update audit from D&M. Then there was the apparently blind alley of the Limbe plant and the FEED process for that and the JVP apparently unable to find alignment on development until, seemingly, NA caved and the Bioko option seriously opened up with SNH consent for that to be investigated, only then for NA to chuck the towel in and exit at presumably a willing sellers price.

That there will be more wrangling and delay seems inevitable given the nature of the beasts involved but O&G revenue does have a critical role not just in the overall Cameroon economy but in financing the office of the President and its praetorian guard and, as we have seen from the Offshore Energy links, without new supply that revenue, while already declining, is going to nosedive around 2026.

Posted at 16/1/2023 12:38 by warbaby43
Thanks for that gark but difficult to envisage those DRC Perenco fields ever feeding Malabo with the distance being c 1100 km (c700 miles in real money) given the likely cost of a wet gas pipeline of that length.

However, given that Perenco are also in Congo and Gabon as well as DRC and Cameroon, it would seem to be pretty much a given that they have conversations with the EG parties. Also worth noting, perhaps, is that Chevron apparently have their EG and Cameroon assets up for sale via the Jefferies bank with the media attaching a billion dollar price tag. Going to be interesting to see who buys and would such a price tag be beyond Perenco's reach?

On Etinde production to Bioko, buy_more put a link up to this back in August but nowt more has appeared in that publication nor did the report appear in "Business in Cameroon:

Https://ecomatin.net/hydrocarbures-le-cameroun-veut-traiter-son-gaz-naturel-en-guinee-equatoriale2/

Meanwhile, on LNG it now seems that there's another "F" on the block besides Floating LNG and it would seem that one of the projects is offshore Congo with ENI, though on the ENI website New Fortress and FAST LNG are not specifically mentioned.

Https://ir.newfortressenergy.com/static-files/a5204b36-c6ad-4739-8061-692b12b8e92b

Https://www.eni.com/en-IT/media/press-release/2022/04/republic-congo-and-eni-agree-increase-gas-production-supply.html

However, the project is mentioned in "Offshore Engineer" and it's also worth noting that the standard unit is 1.4 mtpa which is far more likely to be relevant should the obvious Bioko route be binned for what ever reason:

Https://www.oedigital.com/news/495481-new-fortress-energy-plans-to-build-offshore-lng-export-project-in-louisiana-by-q1-2023

"In February, New Fortress and a unit of Italian energy company Eni SpA agreed to deploy New Fortress' Fast LNG technology off the coast of the Republic of the Congo to produce up to 1.4 MTPA of LNG for a period of 20 years, with production expected to start in the second quarter of 2023."

Herewith a NFE's YouTube Fast LNG video:

https://www.youtube.com/watch?v=IL6YGIeAMLk

Perhaps worth mentioning too is that New Fortress did buy a slab of assets from Golar including an interest in the Episeyo.

Posted at 09/1/2023 15:12 by warbaby43
"I was merely referring to Bows continual plugging of Etindes value in reports and during conference calls."

Yeah, you're right KK and everything should be put into the perspective that BLVN do have as their asset c 50m boe that's within c 30km of the major processing and LNG infrastructure on Bioko and the cause of so much of the frustration has been the unwillingness of New Age and, probably SNH, to take that obvious route to development. We must now hope, I guess, that Perenco come onboard with BLVN's and Lukoil's preferred Bioko option and that SNH are prepared to go along given their need for a significant new source of O&G revenue come 2026.

Meanwhile, just think of how much you could have won if you'd stuck a few bob on my lot having to look up the table at your lot at this point of the season

Posted at 08/1/2023 13:56 by warbaby43
Glad to see you're still alive Toon and surprised you haven't been out strutting your stuff in the last few months before the bubble bursts, but perhaps that absence has been due more to embarrassment than owt else.

Interesting what you say about New Age indebtedness as being their driving factor while I was assuming that, in part at least, it was down to their not being able to get their way over the Limbe processing plant coupled with gas re-injection which would have meant a large hardware order back to China. There certainly appeared to be a reluctance to go the EG route with Lukoil making the running there and doing the presentation to SNH.

Even by SNH's standards 7 months + is a nonsense prompting a distinct feeling that there's summat else involved which I suspect is corporate and probably involving COC. Indeed, with market cap languishing at £7m with what COC received from that Feb 2019 dividend, they could near enough bid double the current share price to attempt to take BLVN private and then get more than that back at FID. I suspect, though, that, given Chahin's background it's more likely to be some fancy financial restructuring involving COC with significant dilution for ordinary holders.

Posted at 07/1/2023 17:21 by gark
What price do you think they get for a sale? Current share price doesn't look too optimistic.
Posted at 07/1/2023 15:30 by nufckk
Warbaby - I have no real theory but can't help but feel that we are going to be sold. Perenco are, apparently, very efficient operators and are always keen to maximise value so I'm bemused everything is on hold while the Cameroon government ponderously approve the purchase. I have heard, and I don't know if this will be news to anybody else, that New Age sold their Etinde share to pay off debt. I'd assumed they were awash with money after selling Brazzaville to Lukoil but apparently that was forced upon them to pay off debt as well.
Posted at 12/12/2022 15:00 by warbaby43
Many thanks for those gas stats and the surge around 2017 would be coinciding with the Golar Episeyo FLNG coming on stream and the Sanaga gas field ramping up to feed it.

The whole issue of Cameroon gas production is something of a mystery with the Perenco website (Https://www.perenco.com/subsidiaries/cameroon) claiming their production to be 24 cubic metres per day which equates to 847 mmcfd "Perenco is now the largest operator in Cameroon in term of production, with an operating area in the Rio del Rey and Douala basins, with oil and gas production of 85,000 boepd (51,000 barrels per day and 24 million m3 of gas per day)."

But where on earth does that sort of 847mmcfd figure come from? We know that Sanaga feeds the Episeyo with c 200mmcfd and while that might be being ramped up, it sure ain't going to exceed 300mmcfd and we also know that Sanaga supplies the Kribi power plant but that's no more than only around 20mmcfd so where is the other c 500mmcfd coming from? The RDR fields we know to be oil plus condensate and while there is flaring, there isn't any gas production infrastructure there. Can anyone shed any light on this with my only guess being that RDR condensate production is being counted as liquid gas and a conversion factor applied.

With regard to an Etinde/RDR FPSO or even FLNG, that would appear to require either major RDR well re-working and/or new drilling with either way that taking us to nearer 2030 than 2022 and total combined BLVN/Perenco well development expenditure of several hundred million dollars.

All in all Bioko makes a lot more sense to afford time and financing for more Etinde/Sanaga/RDR drilling to provide sufficient feed gas for FLNG or even onshore LNG. However, what appears to make most sense is rarely what happens in the world of O&G.

Meanwhile, what price SNH chucking in summat like this for a curve ball:

Https://ecomatin.net/agriculture-la-capef-ressuscite-le-projet-de-construction-dune-usine-dengrais-au-cameroun/

Posted at 02/11/2022 18:00 by haywards26
I am not sure COC can be blamed for the current situation given it mainly revolves around BLVN partners and their specific links to Russia.

The additional malaise is also directly related to doing business in Africa and Covid impacts going back the last 2 years.

My only real criticism of COC would be the decision to pay out the dividend which in hindsight was an error given the now questionable funding position of BLVN.

Despite the negative full year results accounting statements re going concern, I still feel things will progress once the new partner is confirmed and in place.

Posted at 17/10/2022 15:18 by gark
Judging by share price and low volumes, more delays and bad news on the way...?
Posted at 11/11/2021 09:17 by davemarn
BLVN could this be the bottom level?
Timely reminder

Angus Energy 0.90p
Positives
• Equipment should be arriving on site Nov 21 – Feb 22 proving this isn’t hot air!
• Permitting and Approvals expected early December 2021
• First time in 2 years a Project is about to become a reality early 2022
• Huge rise in Gas Prices (300-400%): 51% stake in onshore Saltfleeby Gas Asset
• 52% recent upgrade to NPV10 from a revised CPR of Gas Asset now £25.5m (£9m market cap)
• £12m fully funded for Saltfleeby
• Sidetrack to Gas Project Planning Permission in place to try and double output
• £1.4m Convertible Loan Note holdings extended deadline to April 2023 for final payment!
• 2x Director Buys of 1m each mid 2021
• £8m potential funding with Aleph and Associates for a valid Geothermal play
• 165m Warrants of £2.1m at 1.36p average potentially available
• 26m Employee Options at 1.5p but fully vesting at 2p too
Negatives
• A group of Locals persistently fester on UK Share Forums to stop any buying momentum, the success in market cap makes it harder to stop any of their projects dead in its tracks!
• A substantial undercurrent set of Short Sellers who seem to be betting against delivery and pre-gas price rally; now hurting and desperate to close out their positions – towards First Gas Q1-Q2 2022. Their short positions could create a dramatic squeeze to 2p alone IMO.
• Legacy Oil Assets and failed projects knocked share price and confidence of Long Term Holders
• Geothermal Progress Seems Slow
• Delays seem to bother some impatient traders but Aleph have stumped £12m loan!
Share Price Predictions?
• Harmonics showing 2-3.5p target?
• Management believes 3.5p per share is Fair Value vs. 0.90p share price
GLA WTFDIK DYOR

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