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There's nothing to update..............nothing is happening. Until the oil market gets on a firmer and more positive footing then Etinde won't proceed
I have only got another 66p to go to get my money back now.
Still no response from Customer relations. Utter disgrace really. Radio silence for months now. Give us an update BOD!
Maybe coc buying last percentage points to make a takeover offer as they maybe are aware of news. I hope not as we’ll never see our money back if bought out prior to any news. I’m only theorising and I hope that is not the case.
yesterday, absolutely nothing back. This no news is getting very very frustrating. I sold out of something to put my money in here and that is now doing well whereas we are stagnating with not q single piece of news since March. Its a disgrace really.
Big volume today nearly 3 million shares, GBP 120,000, about 1% of the market cap traded. But much more of the free float. Anyone have any idea why?
Blaming Hart for the current mess is like blaming your school teacher for the fact you're thick.
Nope, as some have said previously, its just been a rubbish strategy that will protect COC investors but not any that were in before.
NEWS!!!!! ridiculously quiet.
Hart is the whole reason we're in this mess
Wow .some posters have short memories. Hart and co took 40 million out of this company in the decade they
were at the helm and watched the share price drop from around 4 quid to pence.
This board cannot do any worse having taken over what they were left with. Would not touch any share that Hart was involved in with a barge pole
All i can say, with hindsight, is come back Kevin Hart. I don't see any interest in BLVN at all anymore. No projects, no hope... The current management are part of the problem. They always have been.
I don't think you blame him for Sapele either, its oil exploration - you win some you lose some. He wasn't hiding information.
The reason he's not working is probably that his options were so generous he doesn't need to!
That’s a bit harsh - though only a bit... The money wasn’t all spent on Etinde. Sapele looked like a great find until they realised how difficult it would be for recovery of oil. Can’t recall the level of costs for that “find” but it was huge. Perhaps the best Kevin Hart wheeze was Bomono. This really was the gift that kept giving. We paid a fortune for a drilling rig that was faulty on arrival, we paid to fix it and from memory we didn’t recover those costs or damages... then, Bomono wasn’t economically viable so we ditched it. I’ve lost countless hours on iii and advfn over the years arguing with investors who thought Kevin Hart was the saviour rather than an absolute buffoon. He’s never been appointed elsewhere so I guess other companies don’t rate him...
Sounds like a difficult decade of hopes and dreams being dashed. So was the 750 million all on Etinde, or any other projects? And does the 400 million estimate include the 165 million farm down of 40% in 2015, which seems to be the origin of the 25 million FID success payment as well - plus what a maximum of 210 million for the value of 20%, using some of the higher end of the range projections in the report?
In 10 years seriously there have been so many imminent deadlines and promises I forget.
The timeline for fid, end 2020 and potential Covid impact statement was made in the March update RNS.
Talk about slow burn , this project I think was first drilled and started in the 90’s . I recon a lot of investors who originally got involved are dead now.
The biggest regret and shame is the original board burning through £750 million to get to where we are now. So basically as it stands we’ve invested £750 mill to get back probably £400 if we are lucky and found a shed load of resources.
How the hell does that all compute. As a company blvn have been completely turned over , probably because they spent so much money chasing a huge resource that once they found it could afford to develop it so gave it away.
Absolute nightmare of a share but been in it too long and lost too much money to just draw a line under it.
The only saving grace for me at the moment was I was able to more than half my holding sp with a £20k top up at 2.4 a few months ago. This was less than a tenth of my original investment value for more shares . Absolutely spins you out.
Over those 10 years, what was the earliest FID date you recall? How many times has the date been pushed back? How many potential bidders for Bowleven have been rumoured?
When did they say year end, and who said that? Bowleven or one of the two JV partners - Lukoil or New Age? I last read in the results Bowleven saying third quarter.
Ski wizz - think it was originally but now by year end!
Don’t forget it was also stated that Covid could/would materially impact timing of decision.
So not sure if the added time takes us to year end or if it’s now year end plus some, who knows.
I cannot see a decision this quarter anyway, recon year end at best.
In the meantime would be nice to build the sp back up.
Isn't FID due this quarter? It's been steadily creeping up so maybe good news in the offing.
This board is like tumble weed at the moment , let’s hope something happens this year.
Actually it’s more like a mission to Mars and we are all on life support, all here but earily quiet just waiting for our destination. Let’s hope the journey was worth it, been in here for 10 years of my life , mental really through all the ups and downs .
When I joined it was a defo , imminent, multibagger.
A lesson in share trading if ever there was one.
Lukoil just bought Cairn's Senegal project. Clearly they want to expand in Africa - perhaps they will bid for Bowleven after FID.
The bid/offer spread fluctuates during the day. I have seen it as wide as 1.25p or as narrow as 0.1p. But the indicative spread is not necessarily a reliable guide to what you end up getting to fill an order anyway. I usually find when it is wide, I get filled inside, and when it is narrow, I have to pay a lot more to trade in size. I would not obsess over the indicative levels, just let us know any firm quotes. Oh and when times are quiet you may need to leave limit orders or do a telephone trade.
The spread has been dropped at last to something sensible
There's controlling the activity through the spread, then there is blvn being absolutely blocked. Nobody is going to invest in a stagnant share with a 36% spread. So, we wonder why we don't go anywhere, no surprise really is it.
As a percentage of the price, the spread is no wider than normal?