I guess that it is a matter of confidence. The market is always a nervous and suspicious beast. At present, no licence has appeared - Cameroon might be peaceful compared to some neighbours, but it does have a poor reputation for corruption. FID has been pushed back. CEO has remarked on the difficulty of getting funding. So the SP may, I guess, spring back remarkably if any or some of the above seems obviously resolved.
The last RNS was an Issue of Equity at 45p, where there was a placing of shares To Ian Sutties as an investment into Bowleven, So this was NOT a rights issue to generally raise any money because the company was short of income. If that is the case I find it hard to see why the sp has fallen so much to 39p ish. Surely it’s only a question of time before this returns to at least 45p and then on the up side again. Or am I reading this incorrectly
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