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Pin to quick picksBowleven Share News (BLVN)

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Wednesday newspaper share tips: AA, Bowleven

Wed, 06th Apr 2016 18:18

(ShareCast News) - AA is a steady business at the core, but its previous private equity owners left it under a pile of debt - so it remains a high-risk option - The Daily Telegraph's Questor said.The roadside recovery group can rely into a steady stream of annuity-like revenue streams from motorists who pay an annual subscription fee.Unfortunately, private-equity outfits CVC and Permira sought tapped into those same streams and then loaded the company with debt to finance an ill-fated merger with Saga, in the form of Acromas.So while most of the business's moving parts seem to be functioning well, its £2.8bn debt pile ate up almost all of the 305m of earnings before tax and interest rate charges the firm made in the year to the end of January.The company does have a strong brand and market position.Furthermore, it has repaid some of its most expensive debt, which should see interest charges fall by more than £45m this year.Some big institutional investors have also backed the restructuring.However, "the gap between the basic earnings per share or 1p and the adjusted earnings per share of 23p gives too much room for judgement," so avoid, Questor said. There may be more rough seas ahead for AIM-listed oil explorer Bowleven, Questor said.Stock in the Cameroon and Kenya-focused company dropped 10.0% over the past week after the outfit was forced to slash the value of its oilfields.That was the result of its decision to downgrade its long-term forecast for the oil price to $65 per barrel, which meant the net book value of its assets plunged from $493m at the end of 2014 to $205m at the end of 2015.Nevertheless, even that reduced outlook might still prove over-optimistic, the tipster said.Fortunately, a well-timed sale of interests off-shore Cameroon in June 2014 left the company with $100m of cash on hand.That is enough to survive but cash levels dropped from $145m at the end of June 2015 to $107m by the end of December.Furthermore, progress on oil and gas projects is being delayed by the low price environment.True, the shares net asset value comes in at 80p, versus the then current share price of 20p."However, this is an extremely high risk situation and depends to a large extent on a sustained recovery in the oil price," Questor said.Investors would therefore be best advised to sell and cut any losses, Questor concluded.
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27 Mar 2024 14:31

Bowleven seeks funding as loss widens on reduced project activity

(Alliance News) - Bowleven PLC on Wednesday said its half-year loss widened as it continues to develop the Entinde project.

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14 Mar 2024 20:56

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26 Jan 2024 06:56

IN BRIEF: Bowleven and partners regroup as Etinde stake sale halts

Bowleven PLC - Edinburgh-based oil and gas exploration company developing Etinde project offshore Cameroon - Partner's sale of stake in the Etinde project falls through. Bowleven is informed on Thursday by New Age (African Global Energy) Ltd, the operator of Etinde, that it received from Perenco SA a termination notice for the conditional sale of New Age's interests in the Etinde joint venture to Perenco. The deal for the 37.5% stake was first announced back in June 2022. Bowleven says it now will discuss with its joint venture partners an updated development plan and work programme for Etinde.

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29 Nov 2023 15:46

UK shareholder meetings calendar - next 7 days

Thursday 30 November 
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Friday 1 December 
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Monday 4 DecemberGM re additional listing on the NYSE
Diversified Energy Co PLCGM re purchase of 15% of the company's own shares
Palace Capital PLCAGM
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450 PLC 
Wednesday 6 December 
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Bowleven PLCAGM
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STM Group PLCcourt meeting and EGM re takeover by Pension SuperFund Capital
VinaCapital Vietnam Opportunity Fund LtdAGM
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Copyright 2023 Alliance News Ltd. All Rights Reserved. 

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10 Nov 2023 11:58

Bowleven reports $2m loss as it looks to shore up funding

(Sharecast News) - Africa-focused oil and gas exploration group Bowleven reported a loss of $2m in its full-year results on Friday.

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10 Nov 2023 10:34

Bowleven needs to raise further equity as warns cash is running out

(Alliance News) - Bowleven PLC on Friday reported a narrowed annual loss, partly thanks to cost reductions, but warned its cash is "depleting" and it has a "pressing need" to raise equity.

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26 Sep 2023 12:14

IN BRIEF: Bowleven considering needed equity injection at big discount

Bowleven PLC - oil and gas, exploration and production in Cameroon - Considering fundraising proposal that would involve an unnamed shareholder providing equity capital at a "very substantial discount" to Bowleven's current market price. If this were to occur, all other current shareholders would be invited to participate at the same price, the company says. Bowleven has USD1.3 million in cash and, despite cutting costs, this is enough only to see it through to the end of the first quarter of 2024. Bowleven also may need additional funds to finance its share of future expenditure on the Etinde project.

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26 Sep 2023 10:39

AIM WINNERS & LOSERS: Bowleven shares drop on concern for cash runaway

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

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21 Jul 2023 10:40

AIM WINNERS & LOSERS: Bowleven says fundraising efforts continue

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday.

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21 Jul 2023 09:35

IN BRIEF: Bowleven unaware of reason for recent share price rise

Bowleven PLC - Africa-focused oil and gas, exploration and production company focused in Cameroon - Says it notes recent movement in its share price and is not aware of "any particular reason" for the sudden increase. Shares in Bowleven increased by 30% in the last month. The company says that it has been considering fundraising options, and expects to seek additional equity capital in the year to assist with its ongoing corporate activities; which it noted in its March 30 statement.

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30 Mar 2023 17:55

TRADING UPDATES: Time Out revenue rises; Arbuthnot gets rates boost

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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30 Mar 2023 09:11

LONDON MARKET OPEN: SSE rises on guidance; Drax falls on biomass snub

(Alliance News) - Stock prices in London opened higher in London on Thursday, as optimism returned to the markets and fears of banking crisis contagion faded.

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24 Nov 2022 15:44

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Friday 25 November 
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European Smaller Cos Trust PLCAGM
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Tuesday 29 November 
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Bluefield Solar Income Fund LtdAGM
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Wednesday 30 November 
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Pires Investments PLCAGM
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Thursday 1 December 
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Virgin Wines UK PLCAGM
  
Copyright 2022 Alliance News Limited. All Rights Reserved.

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1 Nov 2022 14:48

EARNINGS SUMMARY: Vulcan Industries and Wildcat Petroleum narrow loss

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