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Bowleven Share Chat (BLVN)



Share Price: 21.25Bid: 21.00Ask: 21.25Change: 0.00 (0.00%)No Movement on Bowleven
Spread: 0.25Spread as %: 1.19%Open: 20.75High: 21.25Low: 20.75Yesterday’s Close: 21.25


Share Discussion for Bowleven


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tiler1
Posts: 1,133
Off Topic
Opinion:No Opinion
Price:21.25
RE: Revenue
Sat 15:11
All valid points and I agree.

The real play is Etinde. If the drills are as successful as the geology , hope/hype it's goodnight Bow.

We will be sold , company is not sustainable with just Bonomo and there woulf no appetite or reward for investors to fund any wild cat drilling on acreage secured post Etinde sale and KH knows this and he can't use current cash reserves on anything other than producing assets.
 
JRich20020
Posts: 351
Observation
Opinion:No Opinion
Price:21.25
RE: Revenue
Sat 13:36
I think you'll be lucky to see any revenue from Bonomo before 2018.

Consider : -

1 They don't have a licence yet
2 They need to build a processing plant
3 They need to install a pipeline to connect the wells to the plant which are 2km apart
4 If they go for on-site power they have to build a suitable location. Do they have the land to do so?
If offsite pipeline.
Do they have the required permits?
5 How far away is the nearest grid point to transmit the power to? Douala is 15km away.
6 Who will build and pay for the transmission infrastructure? How long will it take? Probably Eneo but maybe not.
7 Who will contract for the generators? Lease or buy? Probably Eneo?
8 Wet season starts in July when hydro power is the preferred choice. Would they still contract generators or wait until Jan when the dry season takes over ?
9 This is Africa. Different timescales prevail.

All in all not much chance of revenue next year. Possibly not in 2018 either if Eneo can't provide the infrastructure in time. They may not have the budget in 2017.
slipanchor
Posts: 457
Off Topic
Opinion:No Opinion
Price:21.25
Re BOD
Fri 19:33
Crown Ocean Capital, are Venture Capitalists, who have a branch of their business that specializes in the offshore industry. I'm hoping that sometime in the very near future they will have accumulated sufficient shares to put a director on the board. We may then see some action.
neilmac2002
Posts: 4
Observation
Opinion:No Opinion
Price:21.25
RE: blvn bod
Fri 17:24
If only the cut's were related to the salary of the BOD!

Jokes aside something has to be done, KH and his fellow BOD are bleeding the Co dry!
Olderandwiser
Posts: 4,592
Off Topic
Opinion:No Opinion
Price:21.25
RE: blvn bod
Fri 17:18
Is this death by a thousand cuts?
slipanchor
Posts: 457
Off Topic
Opinion:No Opinion
Price:21.25
blvn bod
Fri 16:59
David Clarkson who supposedly has 30 yrs service in the engineering side of the oil industry has just been awarded 340k of bowleven shares for hiring a heap of scrap metal to drill Bomono causing a 6 months delay in the drilling schedule and $ 2 million plus in repairs to the rig before the well could be spudded.
After finally drilling the to wells it would appear we couldn't collect enough information to publish a CPR hence,the two extended well tests.
What the board are good at is rewarding incompetence,spending money .and rewarding themselves bonuses.
NT22
Posts: 390
Off Topic
Opinion:No Opinion
Price:20.75
Chairman
Fri 15:44
Most company's have a get well plan for underperforming exec
A simple goal and achiement plan
No ambiguity pass = bonus
Fail = 6 months to reach. A certain level of performance
Looks like the chairman and ceo need to be put on one if they fail to meet the fair and reasonable deadlines
NT22
Posts: 390
Off Topic
Opinion:No Opinion
Price:20.75
8th Jan
Fri 15:17
Said found gas
They would liook to revenue in the short term
And explore the rest of the acreage

Maybe they are just an exploration company
Can't seem to carry out the plan to revenue anything
neilmac2002
Posts: 4
Observation
Opinion:No Opinion
Price:20.75
RE: Revenue
Fri 15:16
Let's remember bonuses were paid in full even after then drilling rig fiasco!! If you think KH and the rest of the BOD are not going to receive a bonus you are mistaken.

let's not forget BLVN is only here to provide them with a nice retirement pot!
NT22
Posts: 390
Off Topic
Opinion:No Opinion
Price:20.75
Revenue
Fri 14:59
Not clear why further exploration is needed
I thought they had found gas/oil
Have they or haven't they and what are they doing to hit a revenue stream in a timely manner?!
If they haven't hit revenue in Bomono and started drilling in etinde by the end of q2 2017 I will not put any more money into blvn stock.
If the board can't achieve both of these with the position they are in, in these timescales the chairman should be sacked with no bonus or payout as its starting to look like incompetence




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