Bowleven Share Price (BLVN)

Alexis - where did I say it had arrived? I said their view was a correction was coming! Having worked and spent a lot of time with these guys they don't get many things wrong. This is an obvious equities bubble funded by state liquidity so anything with a yield has been pursued relentlessly hence the huge disconnect between AIM and the FTSE. Peripheral bond yields are creeping up again, open interest in puts and other downside protection trades in equity have been getting placed - that said many still believe that the rally has some legs but are playing this with options. The point was more that just one of any huge number of possibilities why quant and macro funds are short here and not event driven funds! When it comes to stocks such as this - this is an asset rich company and an asset where there is still huge demand and only a finite amount - big oil and national oil need to keep their reserves topped up and are happier to let the smaller companies exlore, do the risky exploration and then step in. I doubt this will get to production as 'Bowleven ' as all the jigsaw pieces get put in place.

WHERE IS THE RIG?

http://www.investegate.co.uk/bowleven-plc--blvn-/rns/im-5---snh-press-release/201305221349563404F/ pleased to inform the national and international community a discovery of two reservoirs intervals of condensate and gas bearing sands of a total of 95 meters of net pay Middle Isongo Formation, logged 25 meters TVD net hydrocarbons the maximum daily flow rate of 23 million cubic feet of gas and 3,155 barrels of condensate Intra Isongo Formation, logged 70 meters TVD net hydrocarbons of which 43 meters were perforated for the production tests the average daily flow rate of 37 million cubic feet of gas and 4,664 barrels of condensate. The combined maximum daily flow rates of Middle and Intra Isongo are 60 million cubic feet of gas and 7,819 barrels of condensate. These rates could have been higher using increased tubing size. The condensate is high quality (approximately 43 degree API). The total volumes of hydrocarbons (P50 in-place) of the IM field are estimated at 155 million barrels of condensates and 1,050 billion cubic feet of gas. The well is being suspended as a future development/production well. the Rio del Rey Basin has not spoken its last word in terms of important oil and gas potential pleased with the positive results of the IM-5 well which occurred after those of IE-3 appraisal well drilled in 2010 the total volume of these discoveries is important, we would like to move quickly to the development phase We look forward, with our upstream stakeholders, to invest in the exploration, (says SNH) way beyond our expectations the availability of sufficient gas and condensate reserves to enable us proceed to development. further substantial prospectivity supply the fertilizer plant and potentially other end-users (says Chief Tabetando) The flow rates, achieved on test, demonstrate substantial well deliverabilityand further strengthen the foundation for the planned development phase of Etinde. high deliverability , we are confident that we will be able to reduce the number of wells required to supply the planned fertilizer plant. (says Kevin Hart) THE LAST REMARK IS INTERESTING. THEY ARE NOT PLANNING TO REDUCE THE NUMBER OF WELLS, IT IS JUST THAT LESS OF THEM WILL BE NEEDED TO SUPPLY THE FERTILIZER PLANT. THE OTHER FUTURE WELLS CAN SO SUPPLY OTHER PROJECTS/CUSTUMERS... not only delivered a substantial increase in estimated hydrocarbon volumes, but it has also confirmed the presence of liquids rich hydrocarbons at the Isongo Marine field, a significant value driver for development plans on Etinde. In addition to proving that there are more than sufficient gas volumes present on a P90 basis to meet 70 mmscfd dry gas requirements of the fertilizer plant, the IM-5 well has also derisked considerable further prospectivity with significant volumetric upside on the block. deliver value to all stakeholders open up the significant hydrocarbon potential We look forward to the work ahead of us in 201

So thats where the expression came from. Trapped by the b"lls. lol Certainly a lot happening in Cameroon. But would be nice to see something happen with a short term effect which will tickle the share price. ATB

Bowleven fundamental bulls don't like the fact that sp is manipulated to the penny. And I have a funny feeling that bulls got trapped again.

Market correction has not arrived yet. Bears where trapped today