So you have portrayed yourself to be of mature age with just about every financial qualification you could possibly have and yet you choose to make a fool of me and make me out to be some kind of fool. Can you spot who the fools are?? Let's just hope you don't think you are a trader as well. So different skills. You need a cool head and an intuitive mind. Anyway. So where is Bowleven at the end of today? 60p by Easter still? Results from drill soon? Money in the bank? No more delays? Quality BOD? Share price about to rocket? Oil prices looking good? Lukoil such a good deal? Let's hope you all get some good news soon but I doubt it.
So price down on the 'fear factor' now I can understand. Article states " No decisions have been made" but I would expect Lukoil to pull the plug on uncompleted projects just like all the other 'majors' are doing as a cost saving exercise. As BLVN deal is complete the article is null and void in relation to Etinde.
I am absolutely amazed this the sp has not reacted to the FO news and we are not trading at 40p +.
If Bonomo drill and monies arriving do not cause a big lift to the sp, I think the BOD need to decide what to do to assist the sp, otherwise we are exposing ourselves to a cheap takeover.
With $170M you could give an interim dividend, or alternatively buyback say $10M of shares.
I do not think either of these are currently the plan, but needs must and if the market does not recognise the value of this company, and the BOD do not assist in this process, then we will surely be snapped up this year.
Once the money is in the Bank we will be trading at under Cash, and that means there is zero value being attributed to our 20% stake we still have in Etinde, Bonomo, goodwill, Kenya etc. etc.
Utter madness... I will never invest in AIM again as there is nothing worse than picking a compnay, seeing it succeed and be sitting on a paper loss for years... sigh ...
Just remember the Etinde field is the largest offshore find in the history of Cameroon and Lukoil know that and they know the potential. I think once appraisal wells carried out we will be bought out. Seems to be some talk of a farm in for Bomono. Looking forward to seeing the Etinde FO completion funds arriving very shortly - that will be the sweetener after today's RNS which is no big deal. Bomono will spud in early course and A&D Willetts (and Luk) reckon it will be commercial.
I accept the RNS was not pleasant ready, but to put things in perspective it's a delay, not a termination. That on its own would affect the share price, however, at this point someone please slap me across the face with a wet fish. Please tell me if I am mistaken but are'nt BLVN next week going to receive the initial cash proceeds of approximately $170 million. With such a positive cash balance and a negative price-to-earnings ratio it does beg belief why we finish 7% down. I know Chris2 viewpoint is were all doomed and its heading to 16p but I just wondered if anyone else is out there has a sensible viewpoint on this.
"Russia's Lukoil oil company may leave almost all of its projects in West Africa as it has made no large discoveries there"
Etinde is not about making a discovery as the discovery has already been made, so presume this is not related to BLVN, plus I am not sure Lukoil would be able to leave without paying anyway at this late stage.
However, a little scary reading such as an article days from funds being received.
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