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Not sure about break-even. Remember they paid 34p a share for 14 million.
They must be at break even at the moment...
looks like COC are grabbing some more cheap shares price dropping below 27
I would bite their hand off for low 40s, we have been shafted i fear. All the communication before the takeover had dried up. I can't sell now so I am in till the bitter end. I wonder how much cash we have left now after all the severance packages have been taken out, are we now trading below cash I wonder?
Probably price taken down to allow coc to reach 30% with minimum investment and make a lowball offer in 40's look like a result to many! Coc will then agree to sell to NA at a derisory level but have a private clause which still allows them to reap future benefits and an ongoing income stream, but we'll never see that agreement , of course ! Turned over again.
Qatar importations will not stop and if you think BLVN has enough gas to provide milford haven you are very much mistaken, further more the costs involved in bringing an LNG project of fruition are out of BLVN's league and for that reason I beleive BLVN's share will be sold when FID is agreed. Etinde doesn't feature on Lukoil's rader for now however it may in 2018/19 so if I were you I would just sit back, relax and cross your fingers, toes and legs :-)
COC must be near 30% Presume must do fertiliser plant but could do gas offtake to generate short term revenue Quatar is in problems and imports lng to the uk so if this stops the welsh plant could take all the blvn gas What is gong on? Bod should get news out of lukoil or new age Presume putin wants the gas via the Russian company
As bad as the last at investor relations. Nothing on website to let us know how things are progressing, no news since they took over, falling share price. So glad I bought more at 36p, when will I learn?
Booking deadline for VOG farm out is 30 June.
End of June was a key date for something, I think Bomono related, can someone remind me?
Newage agreeing to drill COC taking over the company
what news flow is due?
The price is being steadily moved lower and yet a decent amount of news flow is expected in coming weeks. Any views as seems a bit odd?
If the B share price is oil driven, ...then this; Oil is in a "discontinuous glut".....there are vast reserves all over the world....in the UK....in and under the Paris Basin which holds as much oil as many of the big US shale plays Despite the OPEC cartel oil trades in a range of $40 to $60.....it will eventually get to a range of $30 to $50 We have gas, better than oil -.......and....... we have two ambitious Germans
Yes....thank you....wonderful clipping !
Sometimes waiting for someone to die doesn't work out ...... http://www.nytimes.com/1995/12/29/world/a-120-year-lease-on-life-outlasts-apartment-heir.html
I think: That Biya will soon die and the political situation will change is for sure. That whatever comes next in Cameroon may be to our advantage is possible....not for sure. That the " two German tough guys" we call COC want a return on their investment in Bowleven is a safe assumption I believe Bowleven is about both the " two German tough guys" ....and....... the merits of Entibe.
I'm sure AI.. is correct in saying we wait.....which as a very new shareholder I'm happy to do as I think Bowleven is a "two hand" bet.....on Entinde ........and........on COC's avowed intention to use Bowleven as a vehicle to build a second activity.....that they - and we - can profit from
I doubt it's worth pursuing past deeds, the net result probably won't benefit shareholders, despite glaring mistakes. Lawyers would no doubt disagree. I'm inclined to give the new BOD a chance to prove their worth. I've been a holder for 4 years and the problem, as I see it, is Cameroon officialdom. Contrary to what some (ex-holders) may think (on the iii board, for instance), I can't see what the current BOD can do, other than reduce costs and sit it out. Shareholders voted for a change of management that would lead to Bowleven banking on (essentially) one asset, and that's what we've got. If it weren't for the bureaucracy, I suspect we would have been quids in years ago, perhaps with Petrofac, before the big money taking us out. If only...
Yes we're still in the same boat awaiting SNH to exdigitate. No one was censured for the Bomono fiasco , although we are meant to be in litigation with the parent party of the rig provider. Our gravy loving bod were replaced with another gravy loving bod. 10000000 free shares for Eli with NO targets to be met. Grrrrrrrrr...
Thanks, that is a good spot and what I was referring to.
NT/Gark the cash alternative you refer to comes from the interim results: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=BLVN&ArticleCode=8fl8gis4&ArticleHeadline=Interim_Results_Announcement It implies a cash alternative in 2020, though I'd be surprised if that translated into $40m, judging from the wording: 'As at 24 March 2017, the Group had circa $90 million cash and no debt. Under the terms of the Etinde farm-out transaction that completed in March 2015 the Group also has access to a $40 million (net) drilling and testing carry which is expected to cover its share of two appraisal wells on Etinde including testing (or cash alternative in 2020). This deferred consideration is recognised as a current asset on the Group balance sheet at 31 December 2016. In addition, a further $25 million is receivable on achieving Etinde FID and is held as a contingent asset pending further clarity around Etinde project sanction/FID.' Rivendell, IMO you're correct about the "anyone's guess". The EEAA has lost 3 years of the initial 20 year licence with no progress, and seemingly none in sight. I think your 'Grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr....' at the end of your posts, not so long ago, was apt then and more so now as the weeks, months and years drag on. It's surprising anyone tries to conduct business in Cameroon.
I thought that Lukoil had to pay a cash element by a certain deadline that could have been 2018 or 2020. Anyone remember that?
The farm-out transaction comprised the sale of 30% and 10% interests in the Etinde Permit to LUKOIL and NewAge, respectively, in return for a total consideration of approximately $250 million. In addition to the $165 million initial cash proceeds Bowleven will receive the following: An estimated $5 million cash to follow for working capital; Up to $40 million (net) carry for two Etinde appraisal wells, including testing; $15 million cash to be received on completion of appraisal drilling; and $25 million cash contingent upon and to be received at Etinde development project FID. http://www.investegate.co.uk/bowleven-plc--blvn-/rns/etinde-farm-out-completed--165m-cash-received/201503170700235915H/ Although NA may show 2018 for planning FID until SNH decides to co-operate they might as well put ""anyone's guess"" One of these decades ..............
I thought we got 40m on fid or no later than sept 2017 was this correct ? so the delay although bound to happen is not critical and time for accepting a gas off take solution at least until the fertilizer plant gets built!!!!!!!! if ever