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Bowleven Share Chat (BLVN)



Share Price: 31.75Bid: 31.50Ask: 31.75Change: -0.50 (-1.55%)Faller - Bowleven
Spread: 0.25Spread as %: 0.79%Open: 32.00High: 32.50Low: 31.75Yesterday’s Close: 32.25


Share Discussion for Bowleven (BLVN)


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Rivendell666
Posts: 3,841
Observation
Opinion:No Opinion
Price:31.75
Also......
Today 08:47
The Cameroon plans to produce 6,000 megawatts ( mw ) of electricity over the next decade, according to estimates of the Ministry of Water and Energy for which the country is ' on track ' for the realization of this program.
Experts working on the issue ahead of the validation work for ' White Paper ' on the sub- regional energy program countries of the Economic Community of Central African States (ECCAS ), the Cameroon soon house the foundation .

To get there , the country has achieved over the last five years, energy projects , as well as the construction of hydroelectric power plants dams , plus renewable energy is gaining ground.

By 2020 , Cameroon is expected to produce more than 3,000 MW of electricity, and everything suggests that projects planned to start next year will boost the country's energy production .

Currently, Cameroon which is the largest energy reserves of the continent after the Democratic Republic of Congo has only 1,000 MW installed , which barely covers 45 percent of electricity needs.

In this project, the Cameroon benefits from the expertise of the United Nations Program for Development ( UNDP ) as part of his project, called ' energy decade from 2014 to 2024 . "

http://www.cameroononline.org/le-cameroun-veut-produire-6000-mw-delectricite-lhorizon-2025/

One of these decades.........
 
PigeonPie
Posts: 55
Observation
Opinion:Strong Buy
Price:32.00
Hooded Claw
Today 08:43
Figure seen leaving BLVN HQ this morning clutching what would appear to be a Faberge Egg and Wax sealed Parchments.

Looks like it's all about to happen.
Rivendell666
Posts: 3,841
Observation
Opinion:No Opinion
Price:31.75
Chantal's Mum
Today 08:34
Died last week so maybe that's a very small reason for the inactivity..... How long does a Cameroonian wake last for... ??

http://www.cameroononline.org/final-flight-home-first-ladys-mother/
oldtimer
Posts: 2,213
Observation
Opinion:No Opinion
Price:32.00
Deal
Today 08:12
Well the last deal date which was meant to be on the 31st Aug that was extended to oct was announced on the 26th Aug with only 5 days to go , so we could still get another extended date on Monday.
Charity85
Posts: 619
Off Topic
Opinion:No Opinion
Price:32.25
Lukoil
Today 08:00
Don't forget still got until next Friday for the deal to be done. And even then it could be the next Monday or so until RNS. These things always go to the wire, wouldn't be surprised if the signatures are done on the 31st at 11.55pm. Either way not a long wait before we hear something now.
lobsterpot
Posts: 187
Off Topic
Opinion:No Opinion
Price:32.25
View Thread (3)
RE: 10:20am
Today 07:58
Yup, spot on again Wicky - an e-mail from Staples Ltd just popped up in the inbox, proclaiming: "Storage solutions at great prices"

Dunno how you do it, but bang on the nail again with your predictions - outstanding!!
Keep it up
Love Lobster
Johno1982
Posts: 290
Off Topic
Opinion:No Opinion
Price:32.25
Next friday then
Today 07:56
My worry is the expectation is that this deal will be signed off in the next week which will mean its somewhat already factored in to this dreadfull price. Will be a long slog now simply to break even , 34p!!! Try addding 50p to that and thats just to break even, after being bitten on this and xcite im never touching AIM again the rules of this market are crazy. Not even looking for break even on this now a small loss would be a great result!
pipear
Posts: 268
Observation
Opinion:No Opinion
Price:32.25
Interesting break down
Today 07:56
Event  On 24th June Bowleven farmed down its stake in the Etinde development offshore Cameroon to New Age and LUKOIL. Although the company is now largely financed for development, the stock continues to languish at a 22-59% discount to the read-through valuation of the transaction. In this note we look at why this may be and in doing so highlight the catalysts for re-rating.

Impact  Read-through valuation supportive: We estimate that post deal completion, Bowleven will have net cash resources of 33p/sh (US$17m existing cash and US$161m of net proceeds). Furthermore, on a fully diluted basis, the US$170m that New Age and LUKOIL paid for a 40% stake in the Etinde development suggests Bowleven’s residual 20% stake is worth 16p/sh. Combined this gives a “base” valuation of 49p/sh, which could rise to an “upside” valuation of 64p/sh if both the deferred payment and appraisal carry are included. Our asset-by-asset bottom-up valuation is above this at 70p/sh.

 Addressing issues key to closing valuation gap: We believe that bringing in New Age and LUKOIL has de-risked the project. However there are a number of outstanding questions that need to be answered before the valuation gap closes, in our view. The major ones concern: commitment of the Ferrostaal consortium to the fertiliser project; confirmation of New Age's credentials as operator and its prioritisation of gas supply to the fertiliser plant over competing solutions; firming up of Etinde development costs, FID timing and first production; break-down of recoverable resources by field and how Bowleven's capital structure will look through the development.

 The stock may also benefit from near term drilling: Bowleven is entering a period of elevated activity. By year end, it should have commenced drilling the Bomono campaign (onshore Cameroon) targeting a net 129mboe (16p/120p). Any discovery should hopefully be easier and quicker to commercialise than offshore counterparts. Next year, the Etinde partners will also drill two wells to appraise the highly prospective Intra Isongo formation, which could deliver a net 31mmboe of upside (3p / 29p), based on our analysis.

Earnings and target price revision
 Our target price falls very modestly to 70p from 71p. 2014 and 2015 (June yr end) EPS fall 42% and 78% as we also update for 1H14 results.
Price catalyst  12-month price target: £0.70 based on a Sum of Parts methodology.  Catalyst: Signing of Gas Sale Agreement (2H14); Zingana well (10p/76p)

Action and recommendation  Not withstanding the issues above, we believe that the investment case is more compelling now than at any point since we initiated coverage back in December 2011 and is certainly worth another look.

http://www.slideshare.net/anthclarke/macquarie-39831187
EssexMatt
Posts: 1,634
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:32.25
View Thread (3)
RE: 10:20am
Today 07:55
That's very precise, is your real name kev??
Wickedwend40
Posts: 135
Off Topic
Opinion:No Opinion
Price:32.25
View Thread (3)
10:20am
Today 07:53
Knock knock.



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