We are going to be a cash rich Aim O+G explorer who will be fully funded and debt free until production.
The lower the oil price goes, the cheaper the opportunities for Bowleven become. And the one things we all know is that the exploration team is a class act. We clearly need guidance when it come to taking a good find to production, this the Etinde Farm out, but when we are inundated with desperate O+G companies for money, we might just pick up a bargain or 2 to add to our PF.
OK this might not be a great plan, as Cash is king in a bear market, but if the opportunities are really low risk, high yield and great value due to penniless oil companies being lined up against a wall why not take a small punt or 2 if you are getting great assets in return.
The Oil price will not stay low for years, economies are likely to boom in the next couple of years, and the middle east will at least remain unstable for the foreseeable future.
What does today's oil price matter, we're not selling today or for some while after. I was going to carry on but your not worth the time. I have no desire changing delluded opinions or arguing statements made that are knowingly garbage.
Since the AGM KH is more than ever focused in returning shareholder value (thanks Trader250 for the update) and I believe the plan is now afoot.
No RNS on Friday and the SP would be under 30p possibly under 25p, We now are sitting 32p ish.
In the next few weeks we should receive several more positive RNS's:
Official Decree Signing FO parters agreeing to transfer funds Gazetting FO partners beginning Transfer of funds Bow receiving funds Macquarie loan undrawn (well it is today's anyway) so hopefully only a small amount of warrants issued GSA agreement Block 5 and 6 PSC Bonomo spud
Each RNS should hopefully lift the SP, and certain RNS's such as funds being received could trigger II buying which if this is the case will see the SP rerate at pace.
Here's hoping for a couple of nice RNS's a week. And who knows maybe even a surprise good RNS!
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Volume3,542,826 and yet hardly any price movement amazing with the news. its going to take a while for confidence in the share to re build. Good progress- it could still be a fantastic 2015! for the share price.
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