Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
Yes, sorry if I wasn't clear Nicetomichu. HSBC have obviously been buying as their holding went through 9% this week. All good. Just need a few other II's to follow suit and drive this Northwards. Need FID confirmed before it really takes off though. The sp spread will narrow naturally once the real buying begins.
Nicetomichu
Just look at today's RNS. Link to all RNSs is at the top of this site
A good sign and nice to see that HSBC continue to see the value and potential upside in BLVN
I just saw Hiptov's post last Thursday re: Bowleven news. Nobody commented but I think this is significant. Price has again crashed today but this is due to the global economic situation and is across the board. It seems to me that progress continues albeit slowly and one day there may actually be an uplift as FID is confirmed.
Very frustrating but the sp crash doesn't change anything for me. As 8888ford says, might just be nearing time to add not sell!
Gla
True.
But this still shows a degree of intent. I still remain hopeful we will recover something out of this debacle. Been here a long time and will stay the course, so any news is good news. There must be a semblance of a plan for this LOI to have been issued.
Onwards and sidewards guys and girls :)
The RNS yesterday read....
The Preliminary Results for the year ended 30 June 2019 will be announced this week with the Annual Report and
Accounts for the year ended 30 June 2019 (the 'Report and Accounts') being posted to shareholders shortly after in a separate mailout.
Does 'this week' mean by 24th Nov or does it mean the week the agm is being held 11th Dec?
New Age website.....
Pipeline of key developments
Litchendjili (Marine XII, Congo)
Nene (Marine XII, Congo)
Etinde (Cameroon)
Aje (OML113, Nigeria)
Good to see Etinde is still front and centre of New Age thoughts.
Yup, I'm still hanging on. Been a real dog of a share. But I still remain hopeful they will achieve FID and then be in a position to sell out and return me a modest profit. I think my average is around 56p, but it's been so long I'm really not sure anymore!
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
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?
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?
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.
Bowleven has announced its interim results for the six months to 31 December 2018. The accompanying statement reveals that the Company retains over US$15 million in cash and financial investments. This should be more than sufficient to fund Bowleven through to a final investment decision on the Etinde permit offshore Cameroon, when it is due to receive an additional US$25 million from its partners. In the meantime, we maintain our Buy rating and 32p/share price target.
Best to try and move as much as you can of your holding into an ISA if possible. No tax liability then on future dividends or sale profits. I suggest using up any outstanding 2018/2019 allowance before the 4th April deadline and then another chunk up to £20k I think after that.
Yup.
And pretty much what we expected post the excitement of the divi. No reason to panic in my opinion. This share just continues to test the patience of us poor PIs who remain in the dark.
True value will hopefully prevail eventually, provided FID finally gets approved.
Now I'll go back to sitting on my hands for a few more months! :)
LuckCounts
You are 100% wrong if you think I'm a Troll trying to de-ramp this share. I've been heavily invested here for many years and am currently underwater along with many others. Why am I still here? Because I belive it will come good. But as Cashregister says, this is essentially a binary share. Without did we are worth cash in the bank - approx. 10p or thereabouts since the divi was paid. The point I was making was to try and stop the iver speculation that this price is going to leap up anytime soon. We need drill results, but more important, we need Fid. I tgink that will happen, hence I'm still invested. But that comes in about 9-12 months. So until then expect things to stay fairly static and sit on your hands.
The heavy sells this week were quickly followed by sizeable buys. Looks like MMs soaking up shares to fulfil a large order. Just small time manoeuvres until the real action starts down the road.
My message is hang in and by all means buy more at these prices, but don't expect the price to climb just yet or get frustrated when it languishes for the rest of 2019.
I agree 1MSN.
I have no idea why everyone believed they should reinvest their divi and watch the price rise. It only rose BECAUSE they re-invested and it was bound to fall back again.
This will settle around 10-12p throughout 2019 until we reach FID or the project is pulled, in which case we will be priced about right.
I don't belive that will happen or I wouldn't still be sitting on my holding, but it remains a possibility, which is why the price is stuck where it is right now.
Judging by the increased activity today I reckon quite a lot of PIs only received their divi yesterday. I'm leaving mine firmly where it is outside blvn for the foreseeable future
Received into my Selftrade account today.
Well I'm still waiting for my divi to arrive. Called them this morning (Selftrade) and they said they had received a cheque from BLVN but won't pay it into our accounts until the cheque clears, expected on Friday.
Can you believe that - a cheque! Not sure how your brokers received the money so quickly.