Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
hi msn........i am not saying you are wrong as i simply dont know, but sorry i cant see the logic in it first off COC buying more recently would be illegal if they know a offer is coming or even discussed - this is a fact - it would be illegal and they would be arrested/fined also why would a buyer or a seller give/take control of this company before the appraisal results?
tombi the highest volume in the last 3 years was approx 35 million.................do you not think if an event like a full company sale was known that volume wouldnt exceed that previous high? like i said it is above average, but that volume isnt even close to what it would be if the co was sold so i think logic dictates that it hasnt happened and if it has this price action almost certainly implies that the market doesnt know
end of day will be interesting
The discussion in my view has happened and the price already discussed,I do not think we will make the drills...
its almost 6 times the average traded , no one saying it has happened ,,,,,
sorry 1msn but that is not a prudent comment to make volume is still under 3 million, which is above average, but by no means huge......if the company had been sold you would be looking in excess of 30 mil shares traded i reckon and if it is 56p like you say, why is the price at 33p? any offer would be above 45p (to be taken seriously and due to CEO 10 mil options) so if the company was "sold" then the SP would be ALOT higher plus COC are not going to sell before appraisal drill results are known and a buyer will want to wait for that too
Maybe patience and perseverance is about to pay off. Been a long journey!
56p is still the number i think it will close at.. lots of value in this still
hope so , move on to new pastures
Maybe to deal is done...
2.69 mill if they wanted to go over 30% enough traded now
chris i dont think COC want to cross 30% or THEY will have to make an offer which i wouldnt have thought they want to do, they are not oil men, they want a third party to buy their shares off them for high price as possible. so i just personally think buy up to 29.9% stop there and let the drilling commence there is no point COC selling before the appraisals - get etinde numbers proved up and its a free carry - win win, then sell to highest bidder with increased reserve number
1.9m traded now. I reckon COC are responsible for those trying to get their 30% before the price rises as the rig draws near. If so they must be just about there now so could well see confirmation on Monday with an offer to follow in short order.
1.68 mill traded so far
Maybe.... something is up...
33p to buy , news coming
Guys we all have the same goal for whats left of BLVN to succeed in what ever form it is..
I'd like to second that, your input is much appreciated 1msn
56p being base value.. this is very cheap.. just need to let it take its path..
hi, 1msn . thankyou for your hard work ,its hard to find much about blvn ,so i appreciate anything you find and as its a quite board ,all helps,
looks good, that report says it all...
someone keen today over 1m ,traded
Partners line up Etinde exploration campaign NewAge, Lukoil and Bowleven have jack-up en route to Cameroon for appraisal work, with promising secondary targets Iain Esau London 16 Mar 2018 00:00 GMT Share: Facebook Twitter LinkedIn E-mail Print Privately-owned NewAge and its partners in the Etinde permit off Cameroon are set to start a two-well exploration campaign in May or June this year. Eli Chahin, chief executive of 25% asset stakeholder Bowleven, told Upstream that the jack-up Topaz Driller �is due in country towards the end of May and that may push out a couple of weeks�. The rig, which is currently in Singapore, has been fixed for 150 days and will be used to appraise the Isongo Marine-5 gas and condensate discovery. Located south of IM-5, the IM-6 appraisal well�s main target is a potential 200 to 280-metre Intra Isongo sand column that could contain 870 billion cubic feet of gas. Its secondary targets are the shallower Grinder formation and deeper Yankee zone, which house potential resources of 1.1 trillion cubic feet and 200 Bcf, respectively. A sidetrack could also be drilled off IM-6, with the well designed for conversion to a producer in the event of success. The IM-7 well has been designed to assess the size of the Grinder formation. Chahin said Bowleven�s conservative estimate is that the two wells could find 1 Tcf of gas plus 200 million barrels of liquids. Additional resources would supplement the 1.1 Tcf, plus liquids, discovered so far at Etinde, which is already enough to support a floating liquefied natural gas project. Commenting on the NewAge-driven FLNG scheme, Chahin said: �We�ve got a commercial project now. It�s a very important project that we�re trying to get off the ground.� He added that successful appraisal results will create �a much more lucrative commercial project to be able to take to a final investment decision�. Tentatively, a final investment decision is targeted for next year, with first production about three years later. Chahin said the FLNG scheme is a multi-billion-dollar project, so Bowleven may decide to scale back its interest or sell it entirely instead of funding its way through the development. �That might be the opportunity to realise some value for shareholders or find out shareholder appetite to play along the value chain.� Both Jersey-registered NewAge and Russia�s Lukoil have 37.5% stakes in Etinde. The Bomono permit onshore Cameroon is Bowleven�s only other asset, which, despite delays, it plans to offload to Victoria Oil & Gas.
morning all i dont really see the relevance of 30% to COC (i know that triggers a mandatory offer) but what i mean by that is if COC want to put an offer in for the company they can just do it now, i suppose that extra 1% will save them a little bit but i think they will just be buying up to 29.9% and then sit there and wait for etinde to be proved up, see what the new reserve numbers look like and then sell to the highest bidder (they probably have one lined up already) i dont think they have the monetary fire power on their own to scoop up the other 70% of shares - i also dont think, as they are not oil men, they want to running this company for too long a period, they are a hedge fund, their bread and butter will be buy assets on the cheap, get control, sell them off for a high a price as possible they wont be happy with anything under 45p IMO if the CEO was not put on the BoD by COC then i wouldnt put so much weight behind that 45p options trigger - but the CEO is essentially a COC employee and doubt that option price would be set at 45p if COC had the intention of achieving anything lower
As 1msn rightly highlights, any offer by COC needs to be accepted by 75% of the remaining 70% on the share register. Most offers are made at a premium north of 30% and often a lot higher. As has also been pointed out, our leader is incented to cash in mid-40's so I have no interest in accepting any offer short of 50p. Notwithstanding this, COC will have no interest whatsoever in offering as they are investors not owners, unless they could back to back which is probably too difficult. COC want as many shares as they can without making an offer so there can optimism upside on sale, eventually, or get best return from dividends if they stick around for longer. Anyone able to track where the Topaz drilling rig is?