Sell: 26.50pBuy: 27.50p0.50p (1.85%) more buys than sells but quite a few sells after hours
it seems to me that if there is data on what was found on the first drill this must be known in general terms very quickly. so very odd to delay findings until full evaluation is complete.
afren down 97% maybe to big a reverse buyout - but it would be good if blvn could buy someone with a revenue stream to fund future exploration without having to go to the market again and help the sp if they are not going to buyback any shares!!
Talking about VOG and the potential link with BLVN Bomono gas exploration, I note in a video interview the executive chairman of Victoria Oil & Gas Kevin Foo, saying "We now have the financial strength to pursue the next phase of our growth which is to bring more gas online to meet the massive customer demands. We plan to fund this development programme from existing and projected cash flows and local lines of credit. https://www.youtube.com/watch?v=2U0jluLSZO0
Few chunky trades near the end around the 26.5p mark - 100K, 150K etc.
Soul destroying - the odd % down each day!!!!
Praying Etinde does not get delayed as struggling to see much uplift before that unless recent drills surprise everyone - pretty certain KH may have given us a bit more info if they had been top end of scale
One of the reasons for the discount the company trades on is the uncertainty about what it will do with its cash pile rather than if its still got it. If BLVN considered buying a bit of production to ensure a more balanced portfolio (like VOG) the share price may be more reflective of its core NAV. If fact you could see BLVN farming out the Bomono wells to VOG if the results are favourable as there are significant synergies.
For me though the cash cow is the other exploration and appraisal on the Etinde block that will add more significant value through its 20% interest and two carried wells.
"" If nobody in Cameroon finds new and provable reserves, the dips in price and production could make Cameroon unattractive to foreign investors.
Knowing that diminishing reserves and low prices present an unfavorable long-term outlook for the government's oil revenue, Cameroon and its foreign investors have committed to diversifying its energy sector.""
Are u absolutely certain they've still got100m in the bank? From my experience of (to name a few), vog and bmr, cash can diminish very quickly on aim miners and oilies, especially during drilling and exploring stages.
not really - BLVN is not a E&P in the true sense, it has no production, its just an 'E' exploration and if drilling makes them 100 million in the bank I'll take that and let you m continue to mull over the sausages at your local butchers.
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