The cash is not factored in yet until it arrives . Although it is 99.9999999% certain it will arrive for some reason peeps don't believe it is true until it happens ! I think that this share is being accumilated by interested parties , and in the near future it will reflect its true value which I belive is 50P after cash and obviously alot more if the drills prove successful. Yestreday was an ideal example of share mop up at the end of trading when an unrelated RNS about Lukoil shedding assets was highlighted. Loads of AT trades mopping up the shares ... All of course IMHO
Cameroon boost for oil and gas explorer Bowleven Bowleven, the Africa-focused oil and gas explorer, received a boost this week from the president of Cameroon, writes Michael Kavanagh.
Head of state Paul Biya issued a formal decree allowing the company to receive a payment for selling down its stake in an offshore drilling project. As a result, the Aim-quoted company is likely to be paid $170m next month by its partners in the oil and gasfield — Lukoil of Russia and New Age, a privately owned investor in sub-Saharan Africa. Under the full terms of the deal, first announced in June, Bowleven will receive a total of $250m but maintain an effective economic interest of around a third in the Etinde field. In anticipation of the payment, shares in the Edinburgh-based company have risen from a 52-week low of 21.75p in December to 32p on Friday. However, even after this increase, Bowleven’s market capitalisation is still only £105m — less than the sterling value of the $170m that it is about to bank.
Correction colebrooke, BLVN will shortly no longer be operator of the Etinde MLPH7 acreage. Which I agree can only be a good thing. If Luk wants to make Etinde as their "flagship" asset, I wouldn't mind some of that.
but i think the cash is factored in.........the deal is done.........so if it was going to go up i think it would have done......but a successful drilling campaign on top of the cash in bank scenario may give us a bigger boost
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