We would love to hear your thoughts about our site and services, please take our survey 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.
I will be taking a bow if we get very close to 40p but im not holding my breath...I actually said this would happen....its been quite a few weeks now surely they have some sort of plan........
Maybe our NewBod have recognised that the best way to get value for all shareholders is to wait (and wait and wait) for Biya to put pen to paper and to go into hibernation mode with minimum xpenses. Faffing around with a few tens of millions for a divi may ultimately be very xpensive if we have to raise funds for our share of the development what with dilution and Macquarie/Darwin getting their fees. Would we not have a better chance of a bank loan if we have capital in the bank?? Cameroon desperately needs some sort of gas powered development and Luke won't be too chuffed at $240m ish waiting on the sidelines.... We live in hope...
Snap I am the same My average is 65 pence if it got to that you would see the fastest sprinter in the world
Nothing happening, no trades, no news. What happened to the return of cash to shareholders? I might have to sell out of boredom, I've been here 5 years, average of about 42p, and am tired of waiting. Thought there would be some dramatic happenings after the coup, nothing. Rant over
Brian Casidy..Came across as a very informed individual.. Very up beat in the direction of BLVN for the remainder on 2017..
Who is the " Legal Hand" you discussed matters with ?
It was a very interesting chat.. loads of positive talk about the new Board.. very relaxed about increasing my holding now going forward on any dip, if the MM's allow..
sounds very pro active
It is very quiet and seems not a lot is happening.. BUT... I had a long conversation with the legal hand a Bowleven last week to find out what is going on.. A lot is happening behind the scenes, a full and in depth analysis is being carried out to cut cost.. New directors are being very busy educating themselves on the business, past and present.. A really up beat conversation from a person that has no axe to grind..so all positive from my point of view.. Change is happening and that is what we desperately need, COC saw and still see the value that we all saw years ago.
Very silent here - everybody waiting for the 20p divi to keep them rolling along - lets hope
The bomono agreement is conditional on govt approval which hasn't been given yet. After that, build a processing plant and lay a few km of pipe to connect to VOG's pipeline. Assuming approval is given by the hoped for date I guess you need to allow 6-9 months before gas starts to flow. The 30th June deadline suggests they want to get things in place for the start of the next dry season. After that revenues will be customer consumption based on an averaging basis across the whole network. I doubt any figures will be reported until after the end of Q1 2018 at the earliest.
when will bomono revenue? with the vog agreement what commitments to deliverable's did they get with penalties if they are late? etinde ? what was the outcome of new age and the gov? no agreement ? so what happens now but with no news COC can hoover up at sub final deal price.
I guess it takes time to take the reigns fully and I'm sure the new BOD are busy familiarising themselves with all and everything. COC didn't go through all this just to watch a different BOD collect bonuses year after year so I'm sure it will happen.
Think there is only you and me left here! I expected some decent movement after the boardroom coup, but it's been very dull.
So where do we go from here...
Provided Coc are not under pressure financially, they will be carefully crunching the numbers to come to a realistic value for etinde etc. They will not give it away for 40p just because that will give them a return. If it's worth a £1 then that's what the for sale sign will say. Only in a fire sale or lack of any buyer or a complete stitch up would coc or any other sensible holder sell for less. I've no doubt the people who bought in 20's who are happy to sell in 40's will all be chirping that we were robbed also when they see the real value down the line if they agree to sell.
I would be content with that...
Lots of holders stating the SP is worth double what it is?....I for one dont doubt that.... what I do doubt is us shareholders seeing much of it....I just dont trust COC
90 million in bank. 15 million on appraisal drills 40 million appraisal carry 25 million on fid =170 million + 20% entinde + bomono ( call it 40 mill it'll recover more though be sure) 20% entinde based on lukoil n.a farm for 40% for 250 = 125 million =170 + 125 + 40 before any entinde upside of which there is much
Hope COC uphold their promise to look after ALL shareholders:- "The Board remains focussed on maximising value for its shareholders and, having undertaken a review of all strategic options available to the Company, is committed to the rationalisation of its cost base, and the preservation and enhancement of its existing assets"
presume if they sell it will no longer be reported? hope for news on time to connect bomono and drilling dates for etinde confirmed before COC get an additional 6% holding and being patient !!!
Would not want to be short of this ... when they take this up it will be quick and sharp..
It was obvious what they was going to do and just think they used shareholders to accomplish their strategy. I wonder what happens to the 100mill once takeover happens...
6% more and they can get the whole company for sub 40P !!!!!! worth double this? need another bidder or they take all the value at 50%+ discount
One thing I am surprised is that the Market has Let COC continue to build the stake it has.. at such a level that creates so much value.. Some times the market gets it wrong..