Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
We emailed Bowleven for an update and this was their helpful response received today:
'The JV partners met in late April to discuss the development options and regulatory issues around each of the options.
We are aware that shareholders are awaiting details of next steps however as talks are ongoing, you can appreciate it will take sometime to discuss the implications and costs of each of the scenarios.
As per the AGM presentation indicated, the geophysical and geology studies are expected to be completed later in the year. Once we have the required evidence to support findings, we will release the Reserves/Resource update.
Further meetings with the JV partners are scheduled to take place in Cameroon in June. We will provide an update to our shareholders once some decisions have been reached.'
True - shame it fell 8% yesterday though!
Good to see this 9% rise this am, should be much higher imo.
Would be nice if this pushed on to 20p and the range it was in after the divi was paid. As always BLVN is painfully slow!
Think you posted on wrong BB!
Yes I think your right, we just need a bl***y decision. It's just interesting that New Age put up a picture showing an FLNG platform while BLVN state this is not now the plan. Makes you wonder just how close they are to the 'real' plan -- assuming there is one :)
Here's hoping anyway. Been here a long time an will continue to sit tight to see how this finally plays out.
Cheers
This is from NA's Cameroon page
""Following the successful 2018 appraisal campaign, the joint venture has moved the Etinde project to a development planning phase. Several development screening concept studies are now underway to optimise the development of the Etinde Field, with the aim of agreeing development concept selection with all stakeholders during 2019. A Final Investment Decision is expected by early 2020, with first production envisaged in 2022"" and the pretty picture accompanying it shows a FLNG tanker and a line to the power plant at Limbe.
So "Several" options are being considered. Lots and lots of variables gotta go in the spreadsheet. NA don't know the outcome and neither does Bow.
All we LTH's need is ONE ferkin option to be approved by the myriad of interested parties and Biya
1922's not that far away ........ Grrrrrrrrrrrrrr
Thanks for your response, though I'm still non the wiser :)
The last RNS states "Following the results of the 2018 Appraisal drilling programme, and the unsuitability of the proposed Etinde FLNG based development, it became clear that a significant revision to the Etinde development proposals was needed and that FID would be reached in 2020".
It goes on ....
"Final Investment Decision for Etinde...
The Etinde development will be more liquids-focused, as opposed to gas based as originally contemplated, with a FLNG development. Accordingly, the relative importance of LNG to the success of the Etinde development has diminished. Lower than forecast gas volume reopened other development options which had earlier been de-prioritised given the focus on an Etinde FLNG development".
I take all that to mean FLNG is no longer the plan.
In addition, I seem to remember asking this very question myself on the last update call last year. I think their response was a bit curt and basically said well yes, since the results last year were not quite as expected, then FLNG was no longer a viable solution.
Am I missing something here?
This is from the last RNS. All nice and vague & hopeful. Bow sells "our" condensate whilst the JV sells the dry gas any which way. (What's another few years.......)
Etinde
· 2018 appraisal drilling programme made new discoveries and further improved understanding of the reservoir. Analysing and interpreting the impact of the data collected is ongoing
· The JV partners are proceeding with:
o Technical analysis of the data collected from the 2018 appraisal drilling programme to validate the IM and Isongo E ("IE") field development plans and the Etinde resource volumetric update
o Engineering design studies to assess the engineering and commercial feasibility of all available development options. The JV partners expect to discuss and agree our preferred development solution(s) in the near future
o Commercial analysis of ALL available development options focused around a liquids-based development alongside discussion of sales terms with potential gas off-takers
I'm a little confused by New Age' s report which seems to suggest an FLNG solution coupled with Rivendell also referencing the LNG boom ahead of us.
I thought BLVN indicated in their last RNS that an FLNG solution had now been de-prioritised following last year's appraisal drills and lack of appropriate hydrocarbons for this solution?
"""""Declaring that the “boom is back” for liquefied natural gas (LNG), Wood Mackenzie predicts that capital spending on LNG plant and upstream infrastructure will total more than $200 billion from 2019 to 2025.
In fact, a new Wood Mackenzie study anticipates that nearly 90 million tonnes per annum (mmtpa) of LNG capacity should take final investment decision (FID) and start construction in the next two years alone. Engineering, procurement and construction (EPC) contractors and others along the LNG supply chain should get a “major boost” as a result, the consultancy finds.""""
https://www.rigzone.com/news/200b_in_the_lng_project_pipeline-25-apr-2019-158692-article/?utm_campaign=DAILY_2019_04_26&utm_source=GLOBAL_ENG&utm_medium=EM_NW_F3
C'mon Biya .... You don't want to miss out .............
From the article, there doesn't appear to be any doubt that Etinde is going to be developed with FID 2020 and production 2022, just a matter of the joint partners agreeing on the most cost-effective method of extraction.
The New Age website appears to have been updated:
http://www.newafricanglobalenergy.com/cameroon/
The 'Conceptual field development scenario' diagram looks interesting.
Oil worth very little in the ground. Need to be producing. Hence the share price.
BLVN sold half of its stake in Etinde for c.$200m.
The market cap of BLVN today (valuing the other half of its stake) is c.£50m.
Huge disconnect between the two. Hopefully this is the start of the rise into that.
On it's way to 20p easily achievable from this level and that's only back to 35p if I include the divi recently paid. News is due soon or a buy out so to buy currently makes sense that's what a large buyer is doing.
Looking at the trading pattern it's obvious the Algo's are hard at work.
On here, despite a decent rise on little volume over the last two days with sells seemingly outweighing buys, hopefully a sign of things to come. Surprised to see some of our regulars so quiet, are you still holding you lot?
was in blvn for years went from 800p sp tp 12p more shares less cash, all on r n s about more drills etc, i see its still the same waiting game years on, so i pulled out couple years ago, but now im in jog and the same pattern is showing again , looks like most oil ex firms just do what pay the ceo,s gfla
WHO SAID THAT !!!!
Ho hum.....
Interesting that BID/ASK rising with no reported trades.
I can sell entire holding at 13.10 and quoted 13.45 to buy.
Bigspoke
You need to read behind the headline price. The sp opened at 12p with a sale not a buy. Later bought at 12.93p.
Practically zero volume today so irrelevant anyway. The relatively wide spread also inhibits trading.
At a loss to explain how Bow only goes one way. Down