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An RNS at 16:40 saying that they are 'pleased to announce' that a well is to be plugged and abandoned? Come on...
so not good
interesting to see if any date to actually get any revenue
looks like back to 20 !! turning into a dog!! unless management return the cash now
Under normal circumstances, I'm a believer in the market getting it right but watching the trading today it looks like blatant manipulation which very easily done with such low volumes traded.
We are getting off the book sells followed by auto sells or a series of small algo sells driving the price lower.
I can only guess at what is behind this manipulation but I'm sure it will all become apparent when the RNS arrives.
GLA
Sentiment across the market is terrible at the moment, fund managers are on holiday and most people are de-risking their positions at the risk of a no-deal. Lots of cash on the sidelines will be used in due course to buy stock at quite attractive prices across the board. For many AIM companies the price movements are very much event and therefore news driven and therefore can be risky to trade. Yes the drop has been savage based on low volume but it has risen on low volume too. Been in here too long to jump out now and I don't go along with some who feel on a positive drilling announcement the rise will be modest. It all depends on what we have underground and our partners intentions. I assume like many on here I am reluctant to add any more pre-announcement so will just switch off for a few weeks and hope we receive a great update which will help to quickly forget this fall.
So they allowed bigger boys to jump before the results looking at trades over the last 4/5 days hmm
IM-6 well is a duster
All possible reasons but i dont think they relate to 15% drop on such small volume. Manipulation for me by MM. Time and a few rns may enlighten. If nothing else dont see why company wouldnt say they know of no reason for large fall.
I imagine also there may be quite a few PI chancers who jumped in when we spudded and are now getting a bit bored and are starting to drift away.
Meaningless in so far that no big players are selling, all we are seeing is piffling little trades which I personally doubt are anything to do with manipulation.. When you have such low volumes the price can drift quite violently either way. A couple of small low price sells can drag the price down and vice versa.
Not sure how a 15% drop in SP can ever be described as meaningless. Probably not related to any adverse drilling news but MM are keen to see this drop. So there is a reason, we're just not in the loop
Easy when volume is low
So how can they just do what they want with the share price, 6p drop in a week
Volume so far totals about 300k for the whole day. The drop is meaningless.
this drop just beggars beliefe
I understand a meeting has taken place to discuss the drill this week, this came form BLVN last week.
Good divi and sp up over 5 years Blvn when all the facts are coming together sp goes down Management giving them selves free shares as bad as the last lot
If you look at the sells that are taking place this AM, they are all off the book so it is frightened or frustrated PI's who are selling not II's.
34 is where they bought huge amounts of stock...
well now we're closer to the 20s than the 40s... even a positive result for IM-6 probably only gets us to 50p... sigh.
It is difficult not to agree with that sentiment. Trouble with so many AIM companies is the poor quality of management who appear to be incapable of navigating the environments in which they operate despite, no doubt, talking a good game to get into that position but underperforming time and time again. When it takes so long to monitise assets lth's get so fed up with the time to deliver value they will accept a modest gain just to wipe BLVN off their portfolio list. I must confess that I am getting close to that point myself but for the sake of another month or so I will hang in there and see if there looks like a reason to hang around a little longer!
skiwizz could not agree with you more Let's all say goodbye and would never touch an oil company again please let bowleven prove me wrong
I agree it's definitely orchestrated possibly ready for a bid, so when we are offered a bid of 45p we will snatch their hands off, to be honest I probably would. It would put me at break even and I'll be glad never to hear that word Bowleven again. What a painful experience this has been.
this looks very orchestrated , similar to when coc were buying previously ,,,,,,,,,,
riv im sure your correct on that
I'd be mega surprised if we didn't reach 45p at some time...
From the accounts ... http://www.annualreports.com/HostedData/AnnualReports/PDF/AIM_BLVN_2017.pdf
""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,