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
  -0.045 -1.09% 4.07 135,791 16:35:27
Bid Price Offer Price High Price Low Price Open Price
4.00 4.14 4.01 4.00 4.01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers -2.12 -0.81 14
Last Trade Time Trade Type Trade Size Trade Price Currency
15:29:59 AT 280 4.00 GBX

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Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-22 15:29:594.0028011.20AT
2021-01-22 15:29:564.003,993159.72AT
2021-01-22 14:58:144.0047,0811,883.24AT
2021-01-22 14:10:034.019,975400.00AT
2021-01-22 14:09:594.0174,4622,985.93O
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Bowleven (BLVN) Top Chat Posts

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 4.12p.
Bowleven Plc has a 4 week average price of 3.81p and a 12 week average price of 3.60p.
The 1 year high share price is 6.68p while the 1 year low share price is currently 1.65p.
There are currently 335,272,933 shares in issue and the average daily traded volume is 236,176 shares. The market capitalisation of Bowleven Plc is £13,645,608.37.
gark: Thanks, I agree but would like a bit of progress here. Sounds like we will not get anything until later in Q1. The share price needs to build a solid base to rise from as danger we drift lower and only get back to 4.5 or 5p on news.
gark: Thanks. No news and share price drifting lower was making me a bit nervous. I hope that this is a done deal but this has a habit of disappointing.
nufckk: You are rmore than likely right Warbaby it was just an opportunity to attempt to create a bit of a positive buzz going into the New Year. If I remember correctly the clumsy announcement of the need for a license extension saw the share price drop over 6 pence with more than 6 million shares traded. I very much doubt we will see that ground recovered when the extension is approved, even if it is announced with a fanfare of trumpets and a fly past by the red arrows
nufckk: Everything is relative Annual. Before COC kicked them out, there were four or five Directors each earning similar salaries, achieving nothing other than spending ruinous amounts of cash and awarding themselves copious free shares each year in order to keep themselves incentivised. On top of that we had non executive directors, swish offices in Edinburgh (which necessitated regular travel to London for meetings)and a workforce of 50 or so at one point. I agree though 500k pa is a lot, especially when you read things like "setting the company up for the next decade" in the annual report. I would have a lot more patience if I was being paid 500k pa while I was waiting for the share price to prosper
warbaby43: Most likely then that Our Eli is just going to have to fall back on his $504k salary plus $44k in "other benefits" Now what really would be an share price moving attention grabber would be if he recycled, into a management share purchase, a goodly chunk of that £171,237 dividend he received in February 2019. A purchase of a million shares, or even half a million shares, at these prices, would send a powerful market signal while making not too large a dent in that divi money, even post tax. Nowt quite like a money where mouth is statement.
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: "It'll be interesting to see if they reply to Warbaby's question about the first few drills" Pulling the all info together is not, apparently, as easy as it might seem, given that three of the earlier drills really were earlier, back in the sixties and seventies in fact, with IM-4 being drilled in 1982 and only that one being well tested. Nick Brough quite generously intends, however, to draft a summary of the available well data while, quite reasonably, cautioning that such an exercise is going to take some time. Given all the other demands on small oilie available management time, therefore, it seems some patience is going to be required. Meanwhile, it almost beggars belief that VOG now has a bigger market cap than BLVN with many hundreds of trades being made there on each of the last few days, so given the discrepancy on the size and nature of the assets, BLVN management need to come up with an attention grabber to focus some market attention on the investment merits of BLVN.
nufckk: must admit to being a bit jealous but the massive influx of new posters to the board is a bit suspicious. If VOG do a placing now it would be very suspicious. But hey, at least they're having a bit of share price action
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.
warbaby43: An interesting scenario portrayed by Happy Sparrow, but despite all the stake taking activity etc, the VOG S P remains firmly in the doldrums just like BLVN's does, despite its really positive FEED RNS. What is bizarre, though, is that skint VOG has more or less the same market cap as BLVN, despite BLVN's P50 50 -60 mboe and $13m in cash (even while some of us would have much preferred that to be nearer the $76m that it could have been) Where VOG is very relevant to BLVN, though, is with their gas supply LOI with the putative Douala AKSA 150 MW power plant and BLVN's consequent 25-30mmscfd supply LOI with VOG, and I have thought for some while now that IF the AKSA project does proceed, the odds on FID are significantly shortened, subject, of course, to oil price recovery and longer term forecast. However, even if the AKSA plant does proceed,in the AGM Conference Call, Chahin did say at c 16.45: "Phase 1 will clearly have an element of gas generation, the problem is much larger than that with a huge amount of gas that we need to export" Which, of course, raises the question of just how much is "a huge amount" and where else is it going to be able to go, which bring us to the Interims of 27th March in which copious mention is made of gas reinjection and reservoir recycling in the development's early years with the implication that export, presumably to Bioko, is seen as important and highly desirable but something to follow down the line. If anyone has a different interpretation, I would welcome correction. As far as gas reinjection goes p18 of the AGM Presentation says this: "NewAge has identified four potential opportunities to reinject gas • Each opportunity could provide up to 3 years availability at up to ca.50,000 scf/d production" All well and good maybe, but hardly likely to mop up the rest of that "huge amount of gas" that is needed to be disposed of, which brings us back to the question of how much is "huge" Indeed, one of the most intriguing questions is just what are the expected flows from the initial IM development. As far as I am aware, all that we do know is that IM-5's maximum flow rates were 60 mmscfd and 7,819 bpd of condensates - all very nice but hardly commensurate with the six well development being planned. On the Conference Call, Clancy was questioned on flow rates but his reply was just to add up the flows from well tests with the added cautionary note that test rates don't necessarily mean production rates. The trouble with that being that, so far as I know or could find out, the results of the pre 2004 float wells drilled on Etinde are unknown to us. I tracked back through RNS's and the float RNS in December 2004 did indicate significant assets (though across MLHP-5&6 as well as 7) with this from its initial RNS: "It controls three shallow offshore blocks in the Etinde Permit area with proved and probable (P50) recoverable reserves (independently assessed) of 60.3 million barrels of oil equivalent ('mmboe') plus P50 contingent resources of 58.2 mmboe i.e. a total of 118.5 mmboe of recoverable hydrocarbon volumes. As well as P50 hydrocarbon reserves and contingent resources the 2,300 sq km acreage, which has had 9 wells drilled in it, has very attractive exploration potential. The Company has operated in Cameroon since 1999." Neither here nor in any subsequent RNS could I find any split of those assets though there was mention of an audit report by Scott Pickford accompanying their admission document and being available then on the BLVN website - not now, though, it would seem, as a search for Scott Pickford brings up precisely nowt. As keeper of the BLVN Royal Archives, does Gark (or anyone else) have any handle on this?
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