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Sorry for repost... bad typing... Just thinking aloud.... could BLVN lend the money to CoC so CoC have funds to buy up remaining shares...? That WOULD be a low-risk investment
Just thinking aloud.... could they BLVN the money to CoC so CoC have funds to buy up remaining shares...? That WOULD be a low-risk investment
Coming back to us shareholders then, that was one of the lines spun in March last year to win our support for the boardroom coupe.
Looks as though the market cant make its mind up unless they are waiting for COC comments.
The Group has also undertaken a review of its cash investment strategy. The purpose of the review was to consider how to increase the rate of return earned on its cash deposits without any major shift in the risk profile of the investments. Historically the Group has invested its cash deposits on short term Money Market deposits and in various investment grade cash funds. Following the review, the Board has decided to invest a proportion of the available funds in higher rate of return investments such as corporate debt funds and investments in specific businesses operating within the wider oil and gas value chain. By their nature, these will have a higher risk profile than the existing investment grade deposits currently being used. However, the Group will only invest in low risk, non-speculative investments.
Reads as if COC are in it for the long haul
I draw the poet's attention to the 2010 Bribery Act and offer another verse.... One was called Claude Gueant The other, Paul Biyay, But Interpol had Noticed them, So had the NCA.
Come - on COC put your cards on the table and let us see what you have to offer.
""Two statesmen met by moonlight. Their ease was partly feigned. They glanced about the prairie. Their faces were constrained. In various ways aforetime They had misled the state, Yet did it so politely Their henchmen thought them great. They sat beneath a hedge and spake No word, but had a smoke. A satchel passed from hand to hand. Next day, the deadlock broke."" What The Moon Saw ... by Vachel Lindsay
Yes, No-one mentioned the CoC elephant in the room.
Would just like to add that it doesn't preclude COC from acquiring the necessary 30% and making an offer for the company themselves.
He seems to have a lot of confidence in the next phase by referring to the wells as development wells. I also think it unlikely he would consider an offer before the appraisals. But stranger things have happened.
great refresher video as to why we are all here. thanks for posting
personally feel our reliance on oil will diminish quickly over the next 50 years
aye went wrong when oil nose dived they did well developing technology that could remove the heavy oil out of the field i invested a bit at 64 p then it went up to 3 quid never sold at those prices tho, same with RKH, DES etc think one of the best aim oil companies was encore oil they did it very well indeed. was exciting with all the drilling going on
Christoski The Bentley heavy oil field 250 mil barrels, the thinking at the time if I remember rightly was that Statoil who had the Bressey field adjacent to Bentley would take them over. Statoil never ever went ahead with the development of the Bressey field although I think they bought the XEL technology from them for �3mill. Sorry for the off topic but things have been quiet.
Good to hear Slip. I sat in XEL for several years thinking it was a sure bet. Should have been too with that proven asset just waiting to be tapped. If the price of oil had held up and the company had had a little more available cash reserves then I think it could have been a great company -- but it wasn't to be. BLVN is not disimilar except it has more cash in the bank and much better placed to move forward one way or another, ultimately through a sell-off I suspect once the reserves are proved up. I'm still wary though and take nothing for granted anymore.
Christoski My experience of XEL was very similar, was lucky enough to come across a report in which it stated they would need in excess of a hundred $ a barrel to break even so I bailed out @ �1.10. Don't think I made any money but I certainly limited my losses.
Yes I too was heavily invested in Xcite before the crash. Having failed to take advantage of the rise to around 150p I saw it slide back before I luckily transfered all my holdings over to Bowleven without losing too much there before it nosedived, so not as bad as it could have been. Nevertheless, I'm currently underwater in BLVN but am hoping to see some profit over the next 12 months if the drills go well on Etinde and the resources are Proved up as expected.
29th Interim results are due
missdosh Thanks for sharing.
no skill involved just wanted to mopve my funds managed to go from bad investment to another lol now like you i await BLVN coming good my ave is all about 56p
Well done you, looking back I was a bit naive in thinking it was wise to listen to mr. Cole and stick with it awaiting news, that and other things unfortunately led to a perfect storm and got badly burnt. Not much point in saying on here what I thought of that man and any others who were involved but fair to say in my opinion is it was an orchestrated shambles and carve up for shareholders. Hopefully Bowleven will restore some faith in AIM for me and others and we are all smiling in the next 12 to 18 months.
was a disgrace one investment i managed to get out of before it went totally pete tongue :( not much happening here naff all trades so far
A good find missdosh, it�s nice to hear from someone in charge for a change, but I�ll still reserve judgement until I see a real positive change in shareholder value. I got burnt with Xcite last year and I invested in Bowleven 6-7 years ago so I�ve not had much to cheer about recently. I need more than the 56p which has been talked about by some on here lately for me to break even never mind a profit. I live in hope. Onwards though.