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Pin to quick picksBowleven Share News (BLVN)

Share Price Information for Bowleven (BLVN)

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Share Price: 0.175
Bid: 0.15
Ask: 0.20
Change: -0.025 (-12.50%)
Spread: 0.05 (33.333%)
Open: 0.20
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Low: 0.175
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Westhouse highlights attractive oil stocks that can weather crude-price falls

Fri, 21st Nov 2014 11:06

Westhouse Securities has called for investors in the oil and gas sector to be a "bit more patient" with oil prices currently rumbling along at multi-year lows, as it highlighted buying opportunities in the sector.Brent crude has now fallen over 25% to $79 a barrel since hitting a high of $115 a barrel in June on the back of falling demand and rising supply.The broker said that despite the downwards pressure on prices in the near term, there shouldn't be a collapse. "We are in a situation where the oil-price fall needs to be countered by supply changes," it said.The comments came ahead of the pivotal OPEC meeting on 27 November as the market continues to speculate about whether the organisation will decide to address what some observers believe is a supply glut."We do not try to predict OPEC decisions, but we maintain our view that oil is a high-cost commodity, one that cannot trade at low prices for prolonged periods of time," said analyst Jamal Orazbayeva and Mark Henderson."We argue that while there is near-term pressure on the oil price, a lower oil price environment will result in some correction on the supply side and if it does not come from OPEC this time, it will from outside OPEC (we think the US is the most likely)."While hard to predict the exact bottom level of oil and the timing of reversals, the analysts believe that some stocks have already "bottomed out" despite crude prices continuing to fall."We argue that for investors with a bit more patience and perhaps a more contrarian strategy, there is now an opportunity to cherry-pick stocks at large discounts."With some equities having been "oversold", Westhouse said that many stocks will be able to weather the short-term pressure on oil and also have near-term catalysts coming up.These are Ithaca Energy, Genel Energy, Enquest and Circle Oil - all of which are rated 'buy'.Bowleven, Faroe Petroleum and Parkmead are also rated 'buy'. These, the broker believes, are sitting on a material discounted discovered resource base which has a high chance of success.
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Bowleven sweats on Cameroon presidential signature

Cameroon-focused oil explorer Bowleven has allowed extra time for the completion of the farm-out agreement over its Etinde project as it continued to sweat over presidential approval. Having in October said the only remaining formality to the completion of the transaction was the gazetting of the si

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Monday newspaper round-up: Aviva, Iran, AIM

An estimated 2,000 insurance jobs are likely to be axed as Aviva tries to placate scepticism about its bid for Friends Life. While some analysts hailed the £5.6bn deal announced on Friday evening as giving Aviva scope to push up its dividend, others were unimpressed, with one questioning whether it

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13 Nov 2014 10:21

Thursday broker round-up.-Update

AstraZeneca: JP Morgan raises target price from 3700p to 4100p, keeping its underweight rating. AVEVA Group: Barclays upgrades to overweight. Bellway: Credit Suisse raises target price from 1876p to 1905p and keeps a neutral rating. Bow Leven: Barclays shifts target price from 45p to 50p and retai

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