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first time since mr hart left we did not get one ,,,
very strange we didnt get the holding rns , wonder why ?
New to the forum, with a lot of knowledge about BLVN( more than me and I am invested!), and either never been invested or sold out. If sold out, wonder what's changed to make him sell? Interesting
And only 7 posts as of now.
If you arnt invested here why would you care or for that matter waste you life on a forum you have no interest in
Only the cash in the bank is certain, now. FID requires approval by all parties, including Lukoil and SNH / Cameroon gov... it’s therefore dependent on the appraisal wells result - which is uncertain - and SNH playing ball, which is also uncertain given the politics. The carry is used up by the drilling, doesn’t figure in the share price calculation once the drilling is committed. NewAge are finally committed to this because they need demonstrable success to trigger an IPO; Lukoil are committed because having made the acquisition, they are simply following through on the appraisal rather than writing off the spend to date against nothing; Bowleven are committed because they’re carried. None of which changes the analysis - high risk, uncertain return.
I respect your views and understand the risks involved, however you are forgetting 20p is cash in bank, 25 USD at FID and 40 USD appraisal Well drilling carry, and lets not forgot 25 % of Etinde.. so risk reward for an aim share is ok for my risk parameter, but I understand if its to much for you. I will be surprised thou if we make drilling.. Why would Lukoil and Newage want a shell company with them on this venture, it makes no sense..
Maybe, maybe not - it's all opinion and speculation, no track record. Bowleven is a high risk bet, with uncertain return. High risk because delivery is dependent on the unpredictable actions of others...NewAge, Lukoil and ultimately approval by SNH (which hasn't been forthcoming for whatever reason) and uncertain since it's dependent on undrilled appraisal wells to prove up Resource, before it can even be progressed to development. So, on that basis, I'm out.... good luck all.
thanks shampo
Many thought NA is a good company .... https://www.ft.com/content/51067150-77ff-11e6-a0c6-39e2633162d5
Cameroonian politics stymied OldBow's attempts to get the development moving. However somebody was working away behind the scenes (NA and/or Luke) and in December the drilling programme was very quietly announced. A reputable drill rig (unlike the Bungle in the Jungle fiasco) is due in Q2 https://www.journalducameroun.com/en/snh-indicted-blocking-etinde-gas-field-development/ As regards NA's competence http://www.newafricanglobalenergy.com/about-us/key-company-data/ I certainly have more confidence in them than OldBod's efforts ..... Plus Luke will be keeping an eye on things ......
Well up the speed on NewAge and Lukoil thank you, which is why I’m asking the question. NewAge haven’t delivered anything themselves - Congo upstream development is not operated by them, Aje in Nigeria where they operate by proxy has been a huge disappointment... what actually have NewAge delivered themselves? What have I missed.. what actual operated development have they delivered; what have they actually done on Etinde in 4 yrs as operator. Lukoil are not the operator of Etinde. So, what have I missed, what is it about NewAge’s track record and performance that makes you think they can deliver Etinde?
According to the Vantage drilling report issued at the end of January, the Topaz Driller should be mobilized into the field by the end of April and is contracted to remain in the field until end of Q3, this year.
I think you should spend sometime updating yourself on NewAge and Lukoil All you questions will be answered . Good luck.
Doesn’t answer the question- what is it about NewAge that makes you think they can deliver Etinde? No track record, and nothing achieved in the past 4 years
When are things going to start moving with Bowleven, I'm going to free up some cash to invest here. But what is the latest on the drilling campaign ?
If you looked at all the Luck oil reports over the last 2 years the project was shelved while the price of oil was at historic lows and until a viable solution ( FLNG ) was proven in Cameroon.. We have a timetable now and lets see how this plays out.
Etinde is a gas condensate discovery, the oil downturn is irrelevant - other gas condensate developments in Cameroon have preceded when this has stalled. Why have NewAge been unable to make progress on this asset?
We have been in a oil downturn for the last 4 years... the ship seems to be moving now.. lets see how the drill times go.
NewAge have operated Etinde for 4 years now, with Lukoil on the ticket - and achieved nothing except a protracted argument with Cameroon. What makes you think they’ll deliver anything, on time or otherwise.
Shows progress which the country desperately needs... and managing to complete a project on time and budget.. Lukoil and Newage are in contro,l we have to sit it out and wait, with these companies running the show we will be on time and budget..
Has nothing to do with BLVN so I really don't understand why it's "looking good"....Ramp away 1msn
http://interfaxenergy.com/gasdaily/article/29817/cameroon-flng-on-brink-of-starting-up
Yes it is difficult with a share like this as people won't hang around for value to out as there have been so many delays and false starts in the past. Thing is that news could come out at any time so notwithstanding the day to day frustration I remain optimistic that this will eventually come good.
death by a 1000 cuts, price slowly going down