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True Slipanchor, but wasn't there a lot of wrangling between New Age and Bow behind the scenes as to whether Bow had the money to progress things. It even got to court. Then out of the blue the farm out was announced in Jun 2014 and the EEAA was authorised in August.
Looks like things might be happening.
https://www.businessincameroon.com/hydrocarbons/2106-9239-russian-oil-company-lukoil-eyes-cameroon-s-lng
Has anyone got any thoughts on what's happening over at VOG? Huge fundraising, Chairman 'retired', remaining Directors taking salary cuts and FY Finance and ZUG Finance buying lots of shares.
Some of the fundraising to be spent on a CNG Plant. Could any of this benefit Bowleven?
jadee - as promised the transcript of the Stockdale part of the recording (verbatim minus the ums and ahs, including mine). Q. Me. The Stockdale Report valued Bowleven at 52p a little while ago. Since the IE4 results do you think this might have increased? A. Eli Chahin. I think Mike Clancy has given you an overview in terms of the output of the results to date. I think it's premature to say that there's a direct correlation between what we've seen so far and the uplift in the share price but certainly I think what Mike was saying was there was scope and quite a considerable reservoir and in due course offered potential but on the back of the information we have at the moment there's not enough connectivity to a sort of monetisation programme that justifies a higher share price. End of answer to my question. I personally feel quite positive especially as Eli apologised at the beginning of the call for having to be conservative.
Just received this email from Bowleven: 'As there have been a number of people wishing to ask questions in response to the last RNS, our CEO, Eli Chahin is in discussion with our PR Company regarding holding a conference call. Once a decision is made, and if it is decided to have a conference call, a ‘reach’ RNS with call details will be released.'
Following on from my post on Friday. I have just received a reply (below) to my email to Bowleven about an IE4 conference call. "I am just seeking confirmation on this and will revert to you as soon as I can". I wonder whether this means they have to check with COC first?
Slipanchor, This is what we emailed to Eli Chahin today: "Is there any any reason why today's RNS was couched in such a downbeat tone? It's as if you don't want the share price to go up. Will there be another conference call about the latest results?" This is the reply we got from Bowleven's administrator: "Thank you for your email and feedback which has been passed to management and our PR company for them to take on board. It can be sometimes difficult when we need to communicate quite a lot of sometimes very technical information but we recognise the need to keep things easily digestible for the market. Thank you again for getting in touch and your continued support" We have sent another e mail re-asking about the conference call because it wasn't addressed above!
Just found Steve Lowden's quote in the FT. He said, "It doesn't much matter to him who is running Bowleven, since the Aim listed company is a sleeping partner. As far as he is concerned, Etinde is very much his project, being developed with Russia's Lukoil, and he can't even remember the last time he actually had contact with Bowleven". Financial Times, Alphaville column 3rd March, 2017.
If my memory serves me well, at the height of the battle to oust the old board, Steve Lowden came out and said Bowleven had no input into the development of Etinde and he hadn't met anyone from Bowleven in ages. Considering at this point in time Kevin Hart (wor Kev) was busy telling everyone how involved in the whole operation he and his staff were, this must have left him with egg on his face and an excruciating pain between his legs! Whilst it's a leap of faith to suggest Steve Lowden was backing COC, we can safely say he wasn't doing wor Kev any favours. Time will tell.
Hi Slipanchor, I don't believe it is wishful thinking. I simply can't believe COC would punt £30 million without an end game in place. Their mates, who also bought large chunks shortly after they did, have shown no signs of selling out either. It wouldn't be beyond the realms of possibility that a price has been agreed with somebody based upon the resources in place post drilling. When the takeover was going on, I seem to remember one of the LSE posters got chatting to COC at one of the meetings and asked why COC were gambling so much money and COC told them 'this is not a gamble' or something along those lines. Then again, what do I know?