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slip, the rise on RKH has been on volume for a few days now. And I think there is some rumour behind it too.
There will be plenty of opportunities to get into RKH it is rising on no news and has been the victim of many P&D in the past, unlike BLVN where the drill is about to spin in the not too distant future.
Plenty of activity out on Etinde 3 offshore vessel around the rig.
Feel like we are getting left behind again...Algo's capping price..
flying again, was hoping this would pop first was always intending to get back into them hey ho
Haven't got L2 but one possible answer is a buyer has got an iceberg on the buy side or with a broker and using the algoe's to control the price.
What s a few more days when weve waited year s Let's expect everything is set up ok and they've got supersized tote tanks for all the condensate etc. .... 5 month s drilling and 3/4 (??) for analysis and CPR. .. will we be taken out before then ??
Can someone maybe explain this trading pattern... offer price bought... bid price sold straight away...never seem this before...
fingers crossed - game over if its good news !!!
had to be the most corrupt thing ive ever seen, DES up to 170 then down to nowt. how the hell can you mistake oil for water. Jesus turning water into wine is more believable. RKH was quality story tho mad in the good old days when drilling had a big impact on shre price
Just wish the Volume would pick up a bit and get the bid through 38, although there is still a very gentle underlying uptrend which is obviously positive
Being watching Level 2 for the last couple of days... being capped .. strange
Brings back memories the only share I have watched lose and regain 50% of their value within the same trading day right after the oil to water fiasco on Desire Petroleum. Will probably move back there at some stage.
are now on the same price as us, mcap a lot higher too
Rivendell666 Congratulations on your mobilisation forecast of 3 weeks although I was a little sceptical you were spot on.
Just need the bid to crack 38, she's biting away.
http://www.thesharehub.com/2013/03/06/bowleven-smash-pre-drill-estimates-im5/
Confirmation of a discovery of Condensate and Gas in IM-5 Well, Etinde Block, Cameroon. The Executive General Manager (EGM) of the National Hydrocarbons Corporation (SNH), Mr Adolphe MOUDIKI and the Executive Chairman of EurOil Limited (EurOil), Chief TABETANDO, are pleased to inform the national and international community, that a discovery of condensate and gas was confirmed, following the drilling of the IM-5 appraisal/development well, in the offshore Etinde Exclusive Exploration Authorization, located in the Rio Del Rey Basin, Cameroon. Drilled from September 18, 2012 to March 5, 2013, in a water depth of 56 meters, and attained a total depth of 3,430 meters, the IM-5 appraisal/development well was a success with a discovery of two reservoirs intervals of condensate and gas bearing sands of a total of 95 meters of net pay. The first reservoir interval, situated in the Middle Isongo Formation, logged 25 meters TVD net hydrocarbons, while the second, situated in the Intra Isongo Formation, logged 70 meters TVD net hydrocarbons of which 43 meters were perforated for the production tests. The production tests performed from March 17, 2013 to April 21, 2013 revealed the following results: - (i) for the Middle Isongo, the maximum daily flow rate of 23 million cubic feet of gas and 3,155 barrels of condensate, and - (ii) for the Intra Isongo, the average daily flow rate of 37 million cubic feet of gas and 4,664 barrels of condensate. The combined maximum daily flow rates of Middle and Intra Isongo are 60 million cubic feet of gas and 7,819 barrels of condensate. These rates could have been higher using increased tubing size. The condensate is high quality (approximately 43 degree API). The total volumes of hydrocarbons (P50 in-place) of the IM field are estimated at 155 million barrels of condensates and 1,050 billion cubic feet of gas. The well is being suspended as a future development/production well. EurOil Limited, as Operator and representative of the Contractor under the Etinde Exclusive Exploration Authorization, submitted to the Ministry in charge of Mines, an application for an Exclusive Exploitation Authorization over the Contract Area, with the aim of putting in production, the present discovery. Mr Adolphe MOUDIKI, Executive General Manager of SNH commented: �We are pleased with the positive results of the IM-5 well which occurred after those of IE-3 appraisal well drilled in 2010 by the same operator in this area. According to the total volume of these discoveries, which is important, we would like to move quickly to the development phase, with the aim of increasing the level of national oil and gas production. The confirmation of the discovery of the IM-5 well has demonstrated that the Rio del Rey Basin has not spoken its last word in terms of important oil and gas potential. We look forward, with our upstream stakeholders, to invest in the exploration, with the aim of increasing the national oil and gas production
seems to have run out of steam.. would have thought a move into the 40 pre spud.. no buying thou
( Running Anchors ) Was forgetting she is a Jackup.
Lots of activity out on Etinde, several offshore vessels out there probably running anchors and taking onboard the essentials.
I share your happiness, but the best thing that happened was that NA are now the operator, so that there will be (I hope) no more Bungles in the Jungle) Also we have 25% of the field. Will CamGov buy in for 20% of the field sometime in the profitable future?
apart from the divi that was promised?? however all looking much better, cant beat a bit o drilling :)
Since the old board has been sacked.. The new team has done everything they promised... on time and on target.. this is what the market likes... the knowledge and expertise Lukoil and Newage bring will be a game changer for BLVN..