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6% more and the sorry saga will be over
more buys than sells and down? strange mm?
what level of dividend will etinde generate for blvn? if 15m a year OCO could shrink expenses and pay this out for 20 years!! happy with that
50p wouldn't be a great return for me, only just above break even. Would want at least 60p
Looking cheap at the moment.. wouldn't surprise me a little pop back to 37 again..
Wonder what liabilities are still not shown on balance sheet? When etinde finally drills what potential upside will there be? If Oco get costs under control it's going to be worth the wait!!! However 100% upside v the risk is not a fantastic return hence the light buying at this level OcO on to make 200-300%! However even they have little control on timescales
"The company is carried for $40m of net drilling on two appraisal wells, and is due to receive a further $25m once the final investment decision is made. Etinde accounts for half of Bowleven's book value of 89p a share The bottom line is that Bowleven is in play and I really don't expect the company to be listed on the London market this time next year. So, having included the shares in my 2016 Bargain Shares portfolio at just shy of 19p, and rated them a buy again in this year's Bargain Shares portfolio, I feel a realisation value of 50p a share is not unreasonable in a break-up scenario, representing a 60 per cent discount to Arden Partners' latest risked net asset value (NAV) estimate. Buy."
One of the new directors has slfready bought .36 of the company over 1 million shares, its on the blvn website if you look
Would NewBod not be in a closed period if they are contemplating great changes...?? I'm sure NewBod take their duties seriously and will represent ALL shareholders not just those with a beneficial interest of 23.2% of the company. I'm sure OldBod will still be shareholders and they will be watching like a hawk for the slightest whiff of impropriety. Interesting times, all of which can be resolved by Biya in a glorious moment........... """"Crown Ocean Capital P1 Ltd ("Crown Ocean"), a private investment company and the beneficial owner of 23.2% of the outstanding ordinary share capital of Bowleven PLC """ from CoC RNS PS Beneficial ownership ........ ""A beneficial owner is a person who enjoys the benefits of ownership even though title to some form of property is in another name. It also means any individual or group of individuals who, either directly or indirectly, has the power to vote or influence the transaction decisions regarding a specific security, such as shares in a company."" Be interesting to find out the breakdown of ownership of their shares
I need to break the silence, am I the only one left? No posts on any boards! Trading is virtually non existent, it would be nice to hear some reassuring words from COC now they are in control, would be nice to see the new directors buy some.
Strange!! 75k shares sold No buys and sp goes up? Not selling will top up if it goes much lower
In June 2014, LUKOIL joined the deep-water offshore project in the Etinde block on the Cameroon shelf in West Africa (the deal was closed in March 2015). The block is located in the Gulf of Guinea, offshore Cameroon, in close proximity to the border with Equatorial Guinea. It is developed on the basis of a product-sharing agreement (PSA) signed in December 2008. In July 2014, a 20-year license was obtained for the development of the Etinde block. Previously, thirteen out of fifteen exploration and appraisal wells drilled at the block yielded positive results. In 2015, two more appraisal wells were drilled. Currently, the Company is conducting design and engineering activities at the site and drawing up a development program for the newly discovered gas fields. The final investment decision on the project is expected to be made in 2016.
I totally agree with your comments regarding the old BOD.....however I am still not convinced with COC, my comments may be on the negative side but thats because this is AIM and I have seen this sort of thing happen too many times, I disagree that COC are just shareholders...technically you are again correct, but they now own the board....just remember these people are investment activists....but I remain hopeful.....
Will we get an interesting dynamic here.?? The new BoD are oilies and know the (eventual) value of Etinde when it finally gets under way. On the other hand CoC might be pressing for a fire sale to double / treble (??) their investment ASAP 20% of a ginormous HC field with free drill appraisals and minimal debt required might be more appealing to experienced heads than a fire sale......?? C'mon Biya go for it.....
we might get a better idea of them wanting the 30% ,as now they dont need to buy anymore as they are in the position they wanted on the board ,so they dont need any more , so a holding rns might tell us more of there plans if they keep buying now , and it looks like they are with the size of some trades yesterday and today ,as no one else buying ,aimo
Oldtimer, I hope one day you will get it right. I am bullish target 67p mid term.
Bit any offer has to be at least 37.5p BY LAW, so there is still upside in the worst case scenario. I think it will be better than that after all their hyperbole about the assets.
I have said this a number of times when they reach the 30% required they will make an offer then probably take the company private, I have made it known in past posts that although the old board were pretty much useless these lot are sharks.....sometimes better the devil you know...
rns is helping ocean get more shares cheap as the quick fix holders are selling , if i didnt know better i would think it was deliberate on there part as we know now they control the board ,,,, aimo
I think we could see the sp back down to 30p at this rate.
Does seem strange that OC want to keep buying these shares after they have already got their way about asset stripping. They must think the bits of this company are worth more than 40p ish and may be they just want to buy up-to the 30% mark and make a full takeover to keep all the profits / gains for themselves.
We've already got one. 'We don't need your stinking review.'
Great Right decision Will look to top up on any pull back! Interesting kh has not sold! Looks very promising for OC to realise significant up side from 35p Any update on timelines to connect bomono?!
Maybe but I bet we will see a drop today as all those looking for a very quick buck exit. I'm buying more on any significant drop