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https://africaoilandpower.com/2018/05/23/flng-the-key-to-unlocking-african-gas/
Now ladies and gentlemen we up north are ready for you guys to send this share price up north again let's push this up to 80p if we can for me to break even 👍
Looks as though the SP may drift for a while its a matter of sitting it out, or getting out, some have chosen the latter option.
,,,,,,,
droped back to 37s on the bid, always the danger until the volume picked up
from interims: 'OPERATIONS REVIEW Etinde Exploitation, Offshore Cameroon (20% equity interest) In late 2017, the Etinde Joint venture comprising NewAge (operator), Lukoil and Bowleven reached agreement to implement a two well appraisal drilling programme in 2018. SNH, the Cameroon oil and gas regulator, has previously approved the concept. The first well, IM-6, is targeting the southern boundary of the "Intra-Isongo Marine" gas condensate field discovered by the IM-5 well in 2015. The primary objective is to firm-up the volume of petroleum resources in the field. The Gross Contingent Resources, on a P50 (2C) basis of the various fields have been determined at c0.9 tcf of gas with c95 million bbls of condensate (100 % basis). The IM-6 well is targeting an additional 0.7 tcf of gas in place on a 2C basis. The IM-6 well has a secondary target of clipping the geographical edge of a stratigraphically higher and lower sand packages that look to be similar to the existing Intra-Isongo discovery. The chance of success of the IM-6 well has been assessed as circa 50 %. The IM-7 well targets the main body of both these additional sand packages and has the potential to add a further 1.3 tcf of gas in place (on a 2C basis) to the overall resources. The IM-6 well has a target spud date in late Q2 2018. The entire programme is expected to complete in December 2018. The Joint Venture partners have previously agreed that a commercially viable FLNG scheme with a domestic gas offtake could present a credible forward development plan. The timing of this development activity is largely dependent on which development scheme the joint venture proceeds with. Bowleven remains committed to progressing development activities with the number one priority being the earliest possible monetisation of the Etinde asset.'
Apologies - both wells are appraisal wells. This is information from the interims: '
Drilling and logging of IM6 is expected to take 100 days (then testing?) - an appraisal well. The rig will then be moved to IM7 (2 well programme) to drill and log (and test?) - an exploration well. But the rig has only been contracted for 150 days - that's fast going on IM7 isn't it? Am I missing something here? Or will IM6 most likely be drilled and logged in a less conservative 70 days?
I don't think we'll need much into 2019, 90p to £1 seems a conservative estimate if the well results are as some expect and oil stays > $80
Sale or offer not likely until IM6 results are out & we know those are almost 4 months away, can't see much more than 50p until then to be honest
I think we all feel the same... BLVN has disappointed today.. 8 years for this day and the share goes down..if the institutions wanted this in the 40�s they would take it there.. so many twists and turns..
after 8 years of waiting we finally spud and the share price drops on the day, you couldnt make it up!
rns is not a price sensitive rns. period!! end of!! it is standard practice
Well, the announcement hasn't been price sensitive in our case, the sensitivity is usually measured by the % rise or fall but in our case, its been a damp squib. It looks as though we will just have to wait for the results or a takeover offer.
there is no rules or regulations around what time of day RNS's have to be released, just as long as they are done in a timely manner, so I doubt anyone is going home with sore hands at all! if we spudded today and then they RNS'd it next week that would be a lil bit naughty! I actually think its better to do it when market is open and then you don't get gaps up or down on the open
they released the RNS as they had spudded, not sure why you class this as price sensitive info its an operations update
Unusual to get a price sensitive RNS during dealing hrs they are usually issued before the market opens or after the market closes. Someone may get their knuckles rapped for today's RNS.
The mm can play around with pricing as they see fit.. but value will always pay out..
Would be quite nostalgic to see a 4 in front of SP, been a long time!
When she gets there... 45p will happen pretty quickly
its better than it was at 9 am this morning with bugger all trades going through
Wish the Volume would pick up though
:)
Great news and more or less on time and can now look forward to some progress, my god what would happen if we strike oil and not gas.? Would that be good or bad?
Great news and more or less on time and can now look forward to some progress, my god what would happen if we strike oil and not gas.? Would that be good or bad?