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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Bowleven Share Chat (BLVN)



Share Price: 29.00Bid: 28.75Ask: 29.50Change: 0.00 (0.00%)No Movement on Bowleven
Spread: 0.75Spread as %: 2.61%Open: 29.00High: 0.00Low: 0.00Yesterday’s Close: 29.00


Share Discussion for Bowleven


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jointhedots
Posts: 1,337
Off Topic
Opinion:No Opinion
Price:31.75
View Thread (4)
Sense Anger
6 Mar '17
I sense lot of unsuppressed anger on the BB this morning. lol

I think some of you need to give yourselves time to consider this, om the face of it it's a great deal for VOG and poor deal for Bowleven.

But you really need to see the bigger picture and forget the high aspirations for a super giant like Lukoil buying in this project as happened in the offshore licence - lets face it Bowleven found modest gas reserves and pretty modest flowrates which could look woefully insignificant in a few weeks when VOG complete their 2 wells.

VOG already have a pipeline all over the city and deal with ENEO whilst Bowleven would have to start from scratch and undercut VOG to gain market share.

This deal provides for VOG covering the bulk of development costs and presumably any future drilling would only cost BLVN 20% whilst as operator they retain their specialist exploration team at VOG's expense. Some of you may have forgotten or be unaware that BLVN struggled to get the two wells financed - now perhaps there's a chance of some further drilling.

Note from the RNS that is says that "initial plan is that gas currently suspended at Moambe be brought onstream and that further drilling be considered" - sounds like covering wages and tapping potential for BLVN to me (20% of something is infinitely better than 100% of nothing) and future drilling could find much more gas.

Finally, for a long time I have wondered why Bowleven have taken so long to use their cash on a significant - well surely that is a lot easier now as their financial commitments to what is a relatively small prospect has gone. I suspect this may be the pre-cursor to a bigger deal, before passing judgement let events unfold for a few days.

I hold as few Bowleven but mostly VOG, so I'd like to think the deal in great for both companies, KH isn't a complete fool whatever some on this BB may suggest this will be the best deal available..
 
Garhay
Posts: 9
Off Topic
Opinion:No Opinion
Price:32.00
Bowleven
6 Mar '17
He could not run a fish and chip shop?
Who was this good for? Not the shareholders
Jdoe
Posts: 257
Observation
Opinion:No Opinion
Price:32.25
View Thread (2)
Kevin Hart - Deal maker
6 Mar '17
Hilarious that he actually thinks he is a clever business man and the only man to run Bowleven.

After his superb negotiating skills we see our shares drop by over 7% but VOG go up by 15%.

Kev you're a joke.
OLI12
Posts: 711
Off Topic
Opinion:No Opinion
Price:32.00
that made my mind up OUT
6 Mar '17
"In the event that any of the resolutions requisitioned by Crown Ocean Capital P1 Limited at the forthcoming Bowleven General Meeting on 14 March 2017 are passed, VOG has the right to terminate the Agreement"
oldtimer
Posts: 4,443
Observation
Opinion:No Opinion
Price:32.25
blvn
6 Mar '17
So just where / what do blvn do now and in the future? do they explore new fields somewhere, assuming they win the vote do they still try to buy someone, I wonder if the bod know what they intend to do apart from winning the vote and keeping their jobs for another year.
oldtimer
Posts: 4,443
Observation
Opinion:No Opinion
Price:32.25
RNS
6 Mar '17
It could be that now blvn have sold off cheap these assets Capital might make more money if they sold all their blvn shares about 30p and bought into vog now before the sp goes up too much.
mateyboy
Posts: 2,145
Observation
Opinion:No Opinion
Price:32.25
well
6 Mar '17
the market doesn't like it back down we go :((
email
Posts: 563
Off Topic
Opinion:No Opinion
Price:32.25
turn around - ?
6 Mar '17
Hopefully... if vog does well so should blvn
ALGU
Posts: 133
Off Topic
Opinion:No Opinion
Price:32.25
Been reading the wording of the RNS
6 Mar '17
I don't think it's the best worded RNS, I wonder whether it means the following:

1) BLVN will receive 20% of the gas sales it sends through VOG

2) BLVN will ALSO receive the 3.5% royalty from GDC Bomono's (i.e. the VOG entity's) share of the sales, up to $20m

So, BLVN should be receiving more than just the $20m from VOG. It will also be receiving proceeds from its 20% holding.

Does anyone else read it like that?
jester16
Posts: 5,560
Off Topic
Opinion:No Opinion
Price:32.50
Looks like
6 Mar '17
As a parting shot he's given away most of our asset I think I'll sell up and move on, he should be brought to justice call a egm and we can ask some serious questions as to what he was thinking off...




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