Member Info for Hamz74

Some sites display the last trade price, which can give a false impression of volatility given the spread. If the last trade was a buy, the share price appears to be up, and if it was a sell, the share price appears to be down. The mid price moves around less, but it can also jump around if either the bid or the offer move up or down, even if there have been no trades. In any case I would say volumes are so low it is not worth long term investors worrying about daily moves.

Its in London, near London Bridge station. There is no virtual attendance option. Can anyone make it there in person this year? I went last year, for the first time, but cannot make it this year. You probably need to send a message request to your broker that holds the shares.

These price monitoring RNS are always a mystery to me, as I do not see a change in the quoted bid offer spread or the actual prices reported on trades. Maybe they relate to it being in periodic auction call right now? Does anyone have any insight?

Since both companies are private, I would think a disclosure of the consideration is pretty unlikely. What circumstances do you expect might lead to that? The Bowleven valuation of Etinde is validated by auditor EY. The question is whether some special accounting rule might force them to supercede this with an "arms length" valuation - but even then could New Age or Perenco be compelled to make a disclosure?

I would agree. Next week the 30 day pre-emption period for Lukoil and Bowleven expires, so we might perhaps get another statement saying its 100% official and finalised etc?

It was not quite 7.5 billion. I understand it was 4.6 billion of shares issued by Just Eat, and the other 2.9 billion or so was "goodwill" - basically an accounting trick. Even so a drop from 4.6 billion to 1 billion is still huge.

Such as this one in the Congo, which like Cameroon, is French-speaking.

https://www.ogj.com/general-interest/article/14213066/perenco-acquires-all-shares-in-d-r-congo-block

In theory, Bowleven or Lukoil have pre-emption rights for 30 days from June 7. I wonder if they will wait until the end of the period, or say its a done deal earlier if there is no interest from either of them? I doubt if Lukoil, currently at 37.5%, would want to go over 50% for fear of potential complications if it ever became sanctioned.

1.3/4.3 is 30%
1.3/3 is 43%
I am still not sure if you divide the spread by the offer or the bid - or could it even be the mid?

Is it 25% dividing 1p by the bid of 4p, or 20% dividing 1p by the offer of 5p? Either way, its pretty wide, but hasn't it always been at least 20%? Can you remember seeing it much tighter?

Does anyone have a login for full access?

https://www.africaintelligence.com/oil--gas_corporate-strategy/2022/06/09/perenco-poised-to-take-over-new-age-s--cursed--etinde-block,109790790-art

"We strongly welcome the change of operatorship in the Etinde field, Perenco is a tried, true and tested operator and has shown operational excellence in the country" states Executive Chairman of the African Energy Chamber, NJ Ayuk, adding, "We hope that Perenco, a company that knows the region very well, will be able to fast-track development of the Etinde field, as well as the field’s surrounding prospects. We look very much forward to seeing Perenco expedite the prospects for local, African gas development, as well as the development of gas for export markets, particularly to Europe."

from https://www.marketscreener.com/quote/stock/BOWLEVEN-PLC-4004978/news/Perenco-s-Acquisition-of-New-Age-s-Participating-Interest-in-Etinde-Asset-Offshore-Cameroon-is-a-boo-40668450/

RNS here in case anyone missed it https://www.londonstockexchange.com/news-article/BLVN/change-of-partner-and-operator-at-etinde-licence/15482952

Perenco has a track record in Cameroon, which seems encouraging.

Zero shares traded and no change in bid/offer spread since Friday?

I got this response from Bowleven PR:

The Group retain the view around Lukoil as a non-operated partner in Etinde. It appreciates that there has been personnel changes at Lukoil however Lukoil itself is not currently subject to sanctions.



Clearly the situation is extremely dynamic so second guessing potential infrastructure partner opinions on a JV which includes Lukoil is difficult, however as mentioned, Lukoil remains both a non-operated partner and unsanctioned at present.

This shows that it is possible for a Russian company to buy assets from a UK company, which might be one scenario for Bowleven. For now I would guess Lukoil has much bigger fish to fry, but Russian oil companies have extensive interests in multiple African countries and at some stage they might decide to take a larger slice of the project.

you mean you left a limit order at that price for ages and it only just got filled?

Hargreaves Lansdowne say they need to submit votes on my behalf. Has anyone else found the same or been able to do the votes directly and electronically? I am following the voting suggestions in the linked article. Basically I want to see share buy backs but no more shares issued, and replace some of the board. https://www.prnewswire.com/news-releases/lucerne-capital-management-discloses-vote-for-the-may-4th-just-eat-takeawaycom-annual-general-meeting-301525486.html

A busy fortnight ahead. Lets see if some "activist" shareholders have any success at the AGM, voting to replace the board, allow buy backs up to 10%, and forbid new share issuance, amongst other things. See the link for a Dutch manager's voting intentions: https://www.prnewswire.com/news-releases/lucerne-capital-management-discloses-vote-for-the-may-4th-just-eat-takeawaycom-annual-general-meeting-301525486.html I wonder how many private investors get time to vote on AGM stuff?

JPJ only shows the mid price? What is the bid/offer spread? And how can we tell if trades are buys or sells?