Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Invest here at your own risk - it's a one horse play. It might give a return, particularly at these levels but it's a limited play
New potential investor here. I am keen to invest in oil stocks as I beleive that the are undervalued with the oil price so low during this crisis. This has shown a nice rise today, but what will make it stay up and go up further in future? Anyone got any advice for me as to why I should invest in BLVN?
Top tip, Down 9% today
MTFB shares look interesting DYOR
In essence it basically means a realisation of a return on investment. Oil exploration companies went through a period when investors would pile in at the announcement of a find of oil. This is far less the case now and investors are more savvy and will want to see that potential find crystallised into an actual revenue stream before viewing it as a viable investment
Hi all,
Been looking to get into oil and gas stocks for a while and this has caught my attention. Can someone please explain what the relevance of the FID is? it seems like once this is given its up from there. Understand it means final investment decision but what exactly does that mean
Nice to see a pick up in volume today. Considering this was 6p prior to the recent news on Entinde there is a lot of catching up to do.
Corporate
-- Group cash balance at 31 December 2019 was circa $10.9 million with a further $2.3 million held in financial investments with no debt and material financial commitments
-- A bank guarantee relating to the deposit of $0.5 million is due to end shortly and we expect this amount will be added to our free cash resources shortly
-- Bowleven considers the value of cash and investment of $13.7 million to be sufficient to meet the Group's financial requirements until FID on Etinde is reached
-- The loss for the six month period was $1.4 million compared to $1.4 million in the equivalent period last year
Eli Chahin, Chief Executive Officer of Bowleven plc, said:
"During the period, we were pleased with the progress made towards achieving FID at Etinde. We advanced a number of important project related work streams, including; appointing a lead FEED contractor, assessing commercial arrangements for the produced condensate and gas, and reviewing potential financing options for the project.
At a time of considerable market turbulence, we are fortunate to benefit from a robust financial position, with in excess of $10 million of cash on the balance sheet and no debt. Coupled with our low cost base, we are well funded to reach FID, after which we will receive $25 million from the JV partners.
Despite the solid progress Bowleven has been making, recent macro conditions have the potential to impact the timing of the Etinde project. As a business, we will continue to work towards achieving FID before year-end and we look forward to keeping all of our stakeholders appraised on progress over the coming months."
Yes just looked through the Interims myself. Seems well undervalued.
If/when FID comes through BLVN will receive cash 3x its current market cap.
Market cap today essentially values BLVN at its cash in the bank and nothing else.
64% spread is insane,
Jadee, I am no longer invested in BLVN however I still keep them on my watchlist wishing to see an RNS that will give some reward to the LTH's, You could say that I have a soft spot for BLVN even though it was by far the worst performer ( -£90k). I do fee that it will come good however how good depends on the local Government and for me the Government and it's lack of assistance makes me wonder are they doing their best to hold back the development of the field so they bankrupt BLVN and take control for free.
Good luck to all long term holders and I for one hope I am wrong and I see a game changing RNS sooner than later.
0.01p?
So this dropped 20% on sells of £3750.00 with a spread of 53%, your comments dont help all on here who are hurting, just dont post unless you something sensible to say muppet.
I was wrong about 1p. Try 0.1p
Typical of bowleven to drop with everything else but then not take part in the recovery. Lol
HSB reduced by .2% if I read that right , not a massive amount but down which is not good. At what price per barrel of oil does fid become financialy unviable ?
Yes shareman your right , I’ve been burnt here too but I can’t be too bitter bacause they did pay me a 9 grand dividend. All my other stocks just decimated my money without even a thank you.
only a muppet would buy more of this junk
I just saw Hiptov's post last Thursday re: Bowleven news. Nobody commented but I think this is significant. Price has again crashed today but this is due to the global economic situation and is across the board. It seems to me that progress continues albeit slowly and one day there may actually be an uplift as FID is confirmed.
Very frustrating but the sp crash doesn't change anything for me. As 8888ford says, might just be nearing time to add not sell!
Gla
I was hoping for another 15 p dividend next year lol
Wow this is getting exciting now. If it’s makes 1p I’ll be remortgaging he house to get in lol
going to 1p shortly
I had said goodbye to bowleven , but if it’s this low at the end of the month I’ll be back.
Bowleven plc
('Bowleven' or 'The Company')
Lead FEED contract awarded for Etinde, offshore Cameroon
Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to confirm the award of a contract to
TechnipFMC plc ("Technip") to appoint them as lead FEED ("Front End Engineering Design") contractor in respect of the
proposed development of the offshore IM gas condensate field at Etinde, Cameroon.
Under the terms of the award, Technip would work alongside and report to the integrated JV partner Operations team to
lead the onshore and offshore elements of the FEED programme in respect of the proposed development. The reservoir
engineering and sub-surface development aspects of the wider FEED process will be undertaken by the Operator.
The initial phase of the development concept proposed by the JV partners comprises an onshore gas processing, storage
and export facility linked to an unmanned well head platform with associated pipeline infrastructure.
Eli Chahin, Chief Executive Officer of Bowleven plc, said:
"The award of a lead FEED contractor is a significant milestone for the JV partners, as we look to make a final
investment decision on Etinde in 2020. We are excited about our plans for the initial phase of the proposed
development and look forward to working with Technip to finalise our development concept for the field over the