Member Info for Rivendell666

""April Fools' Day is celebrated every year by playing practical jokes and spreading hoaxes.. Some newspapers, magazines, and other published media report fake stories, which are usually explained the next day or below the news section in small letters. "" from Wiki...... Does anyone give the slightest bit of credence to the story...??

1st of April perhaps. ??

Maybe our NewBod have recognised that the best way to get value for all shareholders is to wait (and wait and wait) for Biya to put pen to paper and to go into hibernation mode with minimum xpenses. Faffing around with a few tens of millions for a divi may ultimately be very xpensive if we have to raise funds for our share of the development what with dilution and Macquarie/Darwin getting their fees. Would we not have a better chance of a bank loan if we have capital in the bank?? Cameroon desperately needs some sort of gas powered development and Luke won't be too chuffed at $240m ish waiting on the sidelines.... We live in hope...

Thanks for that. I sure hope he didn't go away empty handed.......

2017-03-27 TM01 Termination of appointment of director https://companycheck.co.uk/company/04560068/x/documents?latest=true&utm_source=watchalert&utm_medium=email&utm_campaign=newdocs Sry if it's old news. Can't afford the £2 to find out who it is.........

Would NewBod not be in a closed period if they are contemplating great changes...?? I'm sure NewBod take their duties seriously and will represent ALL shareholders not just those with a beneficial interest of 23.2% of the company. I'm sure OldBod will still be shareholders and they will be watching like a hawk for the slightest whiff of impropriety. Interesting times, all of which can be resolved by Biya in a glorious moment........... """"Crown Ocean Capital P1 Ltd ("Crown Ocean"), a private investment company and the beneficial owner of 23.2% of the outstanding ordinary share capital of Bowleven PLC """ from CoC RNS PS Beneficial ownership ........ ""A beneficial owner is a person who enjoys the benefits of ownership even though title to some form of property is in another name. It also means any individual or group of individuals who, either directly or indirectly, has the power to vote or influence the transaction decisions regarding a specific security, such as shares in a company."" Be interesting to find out the breakdown of ownership of their shares

Will we get an interesting dynamic here.?? The new BoD are oilies and know the (eventual) value of Etinde when it finally gets under way. On the other hand CoC might be pressing for a fire sale to double / treble (??) their investment ASAP 20% of a ginormous HC field with free drill appraisals and minimal debt required might be more appealing to experienced heads than a fire sale......?? C'mon Biya go for it.....

GM. One word from Biya and we're off to the races. African Cup of Nations in less than two years. Wouldn't he like a big power station and a guaranteed power supply for that. Or is it too late .......

http://www.investegate.co.uk/cenkos-securities/rns/form-8-5--ept-non-ri-/201703231029283106A/ Some Wheelin' and Dealin'

"""Crown Ocean Capital P1 Ltd ("Crown Ocean"), a private investment company, which is the beneficial owner of 22% of the outstanding issued ordinary share capital of Bowleven""" Do they have to state who the shares belong to...??

http://www.findingpetroleum.com/event/Finding-Oil-and-Gas-in-West-Africa/5ef90.aspx Maybe there should be a follow up conference entitled ... "" Now that we've found oil and gas how the hell do we monetise it if the authorities are playing silly beggars manana""

I note they're the beneficial owner of 25%. I wonder who their backers are....??

Anyone worried about a buy-out.... take the company private and (eventually) enjoy the spoils of Etinde all by themselves....??

https://www.africaintelligence.com/AEM/gas/2017/03/14/etinde-gas-poses-geopolitical-teaser,108225874-ART?CXT=CANP&country=CAMEROON

https://www.africaintelligence.com/AEM/gas/2017/03/14/etinde-gas-poses-geopolitical-teaser,108225874-ART?CXT=CANP&country=CAMEROON

got 5 euros to spare....?? """Cameroon wants to process gas from the Etinde field in Equatorial Guinea but field operator New Age does not agree...."" https://www.africaintelligence.com/AEM/gas/2017/03/14/etinde-gas-poses-geopolitical-teaser,108225874-ART?CXT=CANP&country=CAMEROON

The old BOD will know the value of Etinde and that when CamGov eventually exdigitate then happy days will be here (again) Will CoCBod have the patience to wait for CamGov though, or will they divi up the spare cash and then raise capital and share dilute with Darwin McQuarie et al to fund our share when that happy RNS finally arrives from Douala ....??

http://www.oedigital.com/component/k2/item/14082-video-statoil-starts-mariner-drilling Oh dear.........................

.............development scenario. However since then no final development plan has been submitted and the OGA has not given consent to a development. You are right to highlight investor confidence as a key issue and the OGA is aware of the potential impact of XEL's insolvency on the confidence of all investors (debt and equity), both those directly invested in the Xcite group and those investing or considering investing in other companies operating in the UKCS. With this in mind, although the OGA's powers do not extend to the regulation of the liquidation process nor the financial arrangements by which the bondholders will be seeking to recover debt, the OGA has written to the liquidators to make clear our expectation that they will communicate effectively with all stakeholders of XEL regarding the liquidation process and that they will, through the liquidation, seek to ensure that all of XEL's assets are marketed as widely as possibly to ensure that all options for sale are fully explored in the interests of all stakeholders. The OGA has powers, following the sale, to demand a change of control of the company and its assets if it is not satisfied that the change of control is in the best interests of MER UK. We have noted from shareholder correspondence which we have received that a number of Xcite shareholders have raised questions about the way in which the company has reported its financial and commercial position to shareholders and other concerns. The OGA has set out that such aspects of company activity are primarily the responsibility of other regulatory bodies including (LSE) and the (FCA) .The OGA has taken no view on such claims and has written to the LSE and the FCA to inform them of the representations. You asked about the OGA's priorities for the Bentley field in the future. The OGA's responsibility is to pursue the best available course of action to achieve our statutory principal objective of maximising the economic recovery of the UK's oil and gas resources. Beyond wider initiatives such as shooting new seismic for the industry as a whole, the OGA has not been established to provide financial support to individual projects or companies in the UK Continental Shelf and has no remit to do so. We will be working hard to create the right conditions for fields such as Bentley to become viable. However commercial viability is primarily a matter for the field licensees and stakeholders and, with the marked uncertainty over the long term oil price and the inherent issues related to the extraction of heavy oil, achieving commerciality for these fields is challenging. I hope this helps to clarify the position. ----------------------------------------------------------------- Yep. PI's are xpendable. Seems to be a standard letter. Sry if similar posted. Lost the will to read this BB Grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

Thank you for your letter of 21 November in which you refer to recent contact you have had with one of your constituents who held shares in Xcite Energy Limited (XEL). The OGA has received a number of letters from Xcite shareholders and for your information I attach copies of the responses which have been sent during the last month or so. I note that you ask in particular about the OGA's role in relation to the Bentley field; what the OGA is doing to ensure investor confidence is not shaken; and how we view Bentley going forward. For background: XEL's wholly owned subsidiary, Xcite Energy Resources Plc (Xcite), currently holds two UKCS production licences, including the licence covering the Bentley field. On 25 October XEL announced that it expected its bondholders to seek the appointment of liquidators over the assets of XEL in the British Virgin lslands. The OGA's responsibility is to regulate the oil and gas industry in the UK and in doing so, seek to maximise the economic recovery of the UK's oil and gas resources (MER UK) and to have in mind that the risk to the public purse of financial exposure to liabilities is minimised. The OGA is and willcontinue to use its powers to discharge this responsibility. You asked about the OGA's involvement regarding Bentley. Xcite currently holds and operates 100% of the Bentley field. The licence was granted under a Promote Licence in 2003, and converted to a Traditional Licence in 2005. The OGA has had a number of discussions with Xcite on the technical requirements for the field and has extended the initial term of the licence more than once, to provide the operator with time to complete a development plan that the OGA could consider whether or not to approve. On 5 February 2016 the OGA indicated to Xcite that, on the basis of the information we then had available, we were content with the technical aspects of the subsurface work, well placement and ..............