Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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But if only these clowns had kept the £25 million instead of dishing it out as a divi, we would be in a much stronger position. Even to have purchased another project whilst waiting for this transfer to perenco to complete.
FID is dragging on rather isn't it, it's never been any different with BLVN, you would hope to think all is going to be good at some point in the next few months, Perenco are a serious player and would not have got involved unless they could see the worse than slow Cameroon government approving all things.
Been thinking about fundraising and wonder what others think here.
Purely my opinion this but my take is that the share price is where it is because the market is assuming BLVN will run out of cash before we reach FID. FID has clearly been delayed forever, and each day that passes reduces BLVN's headroom. But I don't believe the SP is where it is based on any fundamental flaw with Etinde, or any doubt that BLVN holds inherent value in that asset.
So, my thinking is that if BLVN is able to securing funding, yes this may dilute existing shareholders on paper, but rather than sending the SP down, it should theoretically rocket, because the danger of BLVN continuing as a going concern recedes, and we are straight back in the game towards getting to FID. So often placings are seen as a negative, but here it's the reverse. Therefore I don't see it as a negative at all that a fundraising is being discussed.
Perhaps this is the optimist in me or the biases of a very very LTH. But, if BLVN raised say a million quid to keep the lights on for another year or so to get to FID, that would surely only be a good thing for the SP. Meanwhile, we could get news from Perenco at any time. All IMHO.
Stranger things have happened on AIM though. Interested in others' thoughts.
One would hope so. Even if it's just a few hundred K to keep the lights on while this moves to FID. Would seem like a sensible move to recoup their investment IMHO
Surely Crown Ocean Capital with their massive investment some years ago will not let this company go to the wall and would inject some cash if needs be to get BLVN to FID.
If, big IF, FID is ever attained, the worth of BLVN will most likely be determined by its share of Etinde's 1 tcf of gas and 100m + barrels of liquids with drill test results flows since float in December 2004 of 150 + mmcfd of gas and 30k + bpd of liquids.
What isn't in the public domain, though, is what flows there were from the wells drilled before that date. From the New Age website:
"The Etinde Permit has been extensively explored. 18 exploration and appraisal wells have been drilled since 1967, of which 14 discovered hydrocarbons."
The 50k trade was my buy at 2.50, so spread is misleading.
Aww that brings back memories… gone are the days of those fancy PowerPoint presentations… never mind.
Thanks Algu
Jadee, the board reckons c.150m is a fair valuation of Blvn's remaining Etinde interest, it was stated in the last accounts.
Also worth noting that under the original farmout many years ago Blvn farmed out the first half of its interest for c.200m (or it may have been 250..i can't remember..).
Either way, if FID comes through the SP will IMHO go stratospheric and the market cap will dwarf what it is today. Big if though. This is a bit like a Hollywood movie stuck in development hell. The potential's there but it may never happen.
Any ideas what this share could be worth with the 25 million fid payment if they eventually get it. Thanks in advance.
This is a highly speculative, but encouraging, punt.
Alongside BOR, ORR, POLY and SAVE, these may come good, but don't bet the house.
Buy an initial position, enough to make it interesting to follow, but not enough to make you anxious.
Watch closely; if there is a big movement in volume and price, then you will be savvy enough to act because you have knowledge and faith.
The big winners are less frequent than the slow losers, but read the candlesticks and you will be OK overall.
Excitement again shows up 50% spread 22%
The Cameroon-focused oil and gas, exploration and production company notes recent movement in its share price and is not aware of "any particular reason" for the sudden increase. Shares in Bowleven are up 43% over the past five days. Says it has been considering fundraising options, and expects to seek additional equity capital in the year to assist with its ongoing corporate activities; which it noted in its March 30 statement. "Planning for an equity fundraising has continued since then but is not yet at an advanced stage and there can be no certainty that a fundraising will be concluded, nor as to the structure or terms of any such fundraising," Bowleven says.
"may well be just PI(s) buying of course" - very sensible if it is, given that the higher the price can be driven pre any equity raise the less the dilution will be.
Buying continuing decently today.. nice to see !
Someone looking to mop up a small chunk of these at rock bottom prices perhaps.... great if it's Perenco... or A N Other oiler.. may well be just PI(s) buying of course.. as it takes very little to move this up from these ridiculously low s/p levels..
But if someone is looking to buy even 3 p/c cent of this co. they might push the s/p back up towards 10 p to achieve that?
Just look at chart and volume compared to history. It’s awake at last
Market not woken up yet that this has a £150m asset and the market cap is only £7m. Once Perenco deal is confirmed and funding sorted for BLVN then 10p/20p possible. This stock has been quiet for years and now it is waking up.
A Re Rating could be on the cards as the Perenco and New Age deal must be close now
2.9p for £10k worth
Finish today above 2p today with no speeding ticket then we can kick on tomorrow again nicely.
Can you imagine the share price move with positive news and volume. Hopefully thats not too far off
The cumulative value of the last three trades showing in the recent trades tab here is approx. 10 gbp.. that's TEN POUNDS STERLING to avoid confusion .. that's hilarious imho
(there are a few half decent sized trades too.. but only a few... and only half decent sized .. so agreed Lea Green !.. but from acorns grow oak trees :-) )
What says so much is what such a pitiful amount of money could produce such a share movement.
I reckon Perenco will want full ownership and will look to buy Blvn out up front of developing Etinde.... and Bowleven will bite for even a semi decent offer .. and a semi decent offer would see this s/p MULTI bag from 4p not to mind 2p..
(Blvn is run by a bunch of hedge fund guys who just want their money back and a turn ...and walk away from this and stick with the day job in future)