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Skiwizz, there should be an RNS tomorrow morning giving details of the conference call.
Did I read there was some sort of investor phone in tomorrow? If so how do you access it please?
thanks happysparrow.........interesting info there
Thanks, DD77.
Worth having a look at Warbaby's post on Advfn too, regards something brewing.
No, I didn't read it that way. If you read the next bit:
Jack brings a wealth of experience and has extensive relationships in the global energy sector and with capital providers.
The current board won't want to add to do a share dilution.
It is an interesting appointment and then followed by 2 PMEs this afternoon, it suggests something is brewing
'...Jack has an intimate understanding of the sector and key relationships with relevant institutions that will bode well for supporting Bowleven as it seeks both project financing and Final Investment Decision on Etinde.'
Does this suggest a large part of funding to be raised by equity?
Most likely I am out on Thursday, as with most Thursdays now. Too, it is Lea's original question and Lea's investment (see his posts on LSE VOG), so he has the pleasure. But my post should give anyone the time to research this matter first, if they want to put the question. Good luck.
Happy Sparrow, why don't you ask the question yourself on Thursday? They don't ask you whether you're a shareholder. Just ring the number and join the call. The more the merrier and if you ask the question yourself you can always follow up with another question if the answer isn't what you are expecting.
Correction: '5th February implied'
Lea, Hi - no doubt you've noticed the VOG board is infested by trolls, so I'm putting this information here for you. Too, it is as much to do with BLVN as VOG; and, as there was no information for you in today's VOG RNS on this matter, I hope this will help you ask the right questions of BLVN on 5th November. Note: I am not going to say what was said to me. However, from what I've put here, you should catch my drift.
What needs to be noted is that after the 5th Feb VOG was put under new and much better management. They have already taken a tough line of ridding us of certain directors; and in taking Eneo to court for non-payment.
It also should be noted that the Limbe to Bekoko pipeline has multiple stakeholders and beneficiaries - New Age and JV partners, Vog/GDC, the Government, Aksa power station (and thus Eneo), and the people. Thus VOG cannot be expected to be the sole payer for this pipeline as perhaps the 5th Oct RNS implied, and perhaps as the previous useless management envisaged.
So the question to ask BLVN on the 5th November is what contribution are they going to make to funding this pipeline; and if their answer is none, for them to fully justify it.
These are my thoughts on the matter. Good luck with getting some full answers from BLVN.
Positive vaccine news may lead folk to take a second look at stalled/delayed propositions like BLVN and RKH. In the meantime we just have to be patient.
COC must be kicking themselves indeed.
The only small chink of light at the end of the tunnel is: BLVN's market cap today is £11m for their % ownership of the field, yet they farmed out the same % for $200m a few years ago. So if FID ever happens, a decent rerate should be on the cards.
Delay to fid has kicked any decision down the road another six months. This project has been an imminent dead cert for the last ten years. I'm starting to wonder whether it will ever see light of day. I expect come June 2021 we will all still be waiting for .camgov response or covid will have caused more unexpected delays. I recommend nobody holds their breath here.
I should imagine COC are kicking themselves now investing in blvn when they probably could have invested in covid stocks and cleaned up ten times over in the timescale for us to decide fid.
I expect it is the power purchase agreement that is the stumbling block. With ENEO better funded now (see my previous posts on LSE VOG), perhaps we can see some forward movement on this?
Also part of AKSA's calculation?
4) The development of cross border electricity interconnection grids
http://www.crtv.cm/2019/10/cemac-12-integrating-projects-worth-2820-billion-cfaf/
https://www.investiraucameroun.com/gestion-publique/1510-15385-en-attendant-bruxelles-la-cemac-a-lance-a-paris-la-mobilisation-de-2-500-milliards-de-fcfa-pour-12-projets-integrateurs
[2500 billion FCFA = $4.5 Billion]
the Cemac zone (Cameroon, Central African Republic, Congo, Gabon, Equatorial Guinea and Chad)
https://www.tradingview.com/symbols/BIST-AKSEN/
Up 185% this year. Should have funds to invest in proposed Cameroon power plant.
'Aksa Energy, one of Turkey's leading energy companies, plans to seize further investment opportunities in the African market, following its first investment in Republic of Ghana for installation of a power plant, electricity generation and the guaranteed sale of this energy via a power purchase agreement (PPA).'
http://www.aksapowergen.com/about/about270.php
I expect it is the power purchase agreement that is the stumbling block. With ENEO better funded now (see my previous posts on ENEO - LSE VOG), perhaps we can see some forward movement on this?
Thoughts, anyone?
I posted this on the VOG board:
Note the Premier (PMO) proposed merger today.
The same logic applies to VOG who need a large injection of capital.
Business interests seem very much aligned with New Age (BLVN); and with SEY (who have worked in Cameroon before).
Rob Collins, our CFO, is an M&A specialist - my view as to why he was hired.
Two directors of VOG are ex-Kerogen (New Age's principal shareholder).
Perhaps mergers will become the fashion in these troubled times?
Fingers crossed.
(and see my posts on 30th April 2020 for detail)
Not sure how to interpret "progress" here. Hopefully positive progress.
Dear Mark – thanks for the email to Bowleven. It has been seen by the leadership team and is well noted. We’re looking forward to updating the market on progress before long.
Thanks for your support and patience.
Regards,
Sorry for not explaining more, Hamz. Please see my posts on LSE VOG. There is a new 'business in Cameroon' article today on this subject - hence I reviewed the background.
https://www.investiraucameroun.com/economie/2509-15267-depuis-7-ans-ferrostaal-peine-a-materialiser-son-projet-d-usine-d-engrais-chimique-dans-le-sud-ouest-du-cameroun
This news story was from 2013. Did it ever get constructed and if not why not?
My posts on LSE VOG may be of interest?
(EurOil is Bowleven subsidiary)
http://otp.investis.com/clients/uk/bowleven1/rns/regulatory-story.aspx?cid=1058&newsid=493191
https://www.businessincameroon.com/agrobusiness/2305-4084-ferrostaal-signs-a-gas-supply-agreement-to-its-giant-fertilizer-plant-to-be-constructed-in-limbe-with-euroil-and-nhc
Around 4 million shares or just over 1% of the market cap have been transferred from the Employee Benefit Trust to Treasury. Does anyone have any idea why, and whether this has any implications? eg Have the shares been cancelled or are they still owned by employees? The RNS is linked below: https://www.investegate.co.uk/bowleven-plc--blvn-/rns/employee-benefit-trust-shares-transfer/202009221435227628Z/