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Bowleven Share Chat (BLVN)



Share Price: 31.25Bid: 31.00Ask: 31.50Change: -0.75 (-2.34%)Faller - Bowleven
Spread: 0.50Spread as %: 1.61%Open: 31.50High: 31.75Low: 31.00Yesterday’s Close: 32.00


Share Discussion for Bowleven (BLVN)


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bonker99
Posts: 12,800
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:28.50
View Thread (2)
RE: Support at 29p
2 Apr '14
This is about time and pressure now mate rather than fixed SPs imo ...
 
BigShort
Posts: 65
Off Topic
Opinion:No Opinion
Price:28.50
View Thread (3)
Arden Partners - Buy 181p
2 Apr '14
Full text from the new report:

We continue to hold a positive view on Bowleven. This is principally based on Etinde Phase 1 FID coming through this year as when this does arrive we expect it to be a very positive catalyst. The development plan has been submitted and financing is in place from Petrofac so on FID Bowleven should be able to crack on with monetising Etinde in reasonably short order. The company’s attention could then turn to further exploration/appraisal on Etinde (particularly the Intra Isongo level), Bomono or its nascent East African assets in order to continue providing interesting catalysts while we wait for first gas on Etinde. The hurdle for all of this at the moment is FID which is part of the reason why it is so crucial that Bowleven achieve it. Any updates on timing at the results will therefore be very important. At present we maintain our Buy recommendation and 181p price target.

 The main waypoint on the path to FID (other than progress on the fertiliser plant) is the development licence for the
project. The formal application for this was submitted in January. This could originally have gone in in 2013 but the
Cameroon government wanted it reworked for the results of the IM-5 well and to include the option of an LNG facility
which could take combined gas volumes from Etinde and several other fields. While this has created a delay it does look like good news for potential development of subsequent phases on Etinde to see the government looking so far ahead. The development licence has hence been quite a long time coming but should hopefully be awarded in the coming months. This would represent another positive catalyst for Bowleven but on nothing like the scale of FID. As such any update on expectations here at the results would also be welcome.

It is worth noting here that Bowleven has recently been involved in a legal dispute with 20% Etinde partner New Age
(which came into the licence in 2013 replacing Vitol). This was specifically to do with the rights of representation of licence partners to the government. These reside with Bowleven as operator under the JOA (which we understand is typically industry practice) but New Age had attempted to challenge this resulting in legal action. We note that the development licence application has still gone in and with the consent of New Age so hopefully this dispute is merely a side-show. We feel it is still worth investors being aware of this however as any serious partnership dispute could potentially further delay FID. We do not necessarily expect any more detail here at the results but feel comfortable with this risk at present.

 Finally we are also looking for an update on cash and funding. Bowleven has already reported that cash was
c.US$38m at the end of December but it will be good to get an update to the end of March. The company completed a US$21m fundraise in November to help take it through to Etinde FID (when a US$60m reimbursement from Pet
bonker99
Posts: 12,800
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:28.50
View Thread (3)
RE: Wait for what bonker
2 Apr '14
XEL @ 73p, GKP @ 97, BLVN @ 29

BLVN wins all day long, sorry ...
bebopdl
Posts: 1,111
Observation
Opinion:No Opinion
Price:28.50
View Thread (2)
Support at 29p
2 Apr '14
Looks like it could be broken today, not good at all.
gus2
Posts: 1,005
Premium Chat Member
Off Topic
Opinion:No Opinion
Price:28.50
Ted
2 Apr '14
Jpm just repurchased 17 million shares,so not everyone agrees with ya
ted1
Posts: 91
Off Topic
Opinion:No Opinion
Price:28.25
SP & BOD
2 Apr '14
Very sorry to say this but the market , the II,s and a fair few PI,s do not have any confidence in what KH & BOD say at all . IT seems they are right . At 28.75p there is still selling going on . FID was DEC 2013 delayed . Some said MARCH 2014 ( no chance ) . MID 2014 , delayed to end 2014 ? . EEAA ? Well not Q1 2014 anyway . NO REAL NEWS yet . Seems the market has fell out with KH ? Not sure whats going on but HART is under a lot of pressure, words like , good progress , advanced etc don't work any more. PETROFAC deal ends DEC 2014 , unless FID is obtained ! If and when EEAA is signed off it is not clear what type of lending will occur and for what reason ? GLA
Charity85
Posts: 561
Off Topic
Opinion:No Opinion
Price:28.25
becomingpoor
2 Apr '14
Crikey, that would be a scary loss for someone selling at those prices. I hope it's a buy and if so the SP should be released upwards so we are at least not sat in the 20's again.
neilmac202
Posts: 84
Answer
Opinion:No Opinion
Price:28.25
View Thread (2)
RE: Another day...
2 Apr '14
Snap. Well into 6 figures down now...ohhh the joys of getting ripped off
Infinity010
Posts: 641
Off Topic
Opinion:No Opinion
Price:28.25
View Thread (2)
Another day...
2 Apr '14
Another 2.5k down! Happy days!

Surely this has to turn soon FFS! Too much of a loss to sell now, just going to have to wait it out and hope for the best.
neilmac202
Posts: 84
Question
Opinion:No Opinion
Price:28.25
How long..
2 Apr '14
Before we hit single figures. Good old BLVN.



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