Dougal12 Aug 2018 17:50
I have excoriated OldBod many times for the Bungle in the Jungle. They made the mistake of trusting people and what seemed AI at Lloyds on paper turned out to be a LoC (Load of .....)
Having eventually found some gas ... "" well flow tests on the Moambe well exceeded 7mmscf/d. The Moambe and Zingana exploration wells drilled at Bomono were then suspended as future producers. As previously announced by Bowleven, the detailed prospect inventory prepared indicates there is 146bcf and 263bcf of mean un-risked GIIP in the Tertiary and deeper Cretaceous reservoir intervals respectively...."" the question arose how to monetise it ??
Bow and SNH haven't exactly had a smooth or timely relationship and I suspect the option of 20% of something as opposed to 100% of nothing was more appealing than trying to build the infrastructure on their own, permitting by the grace and favour of SNH. Whether that was the only deal on the table or the best one to take, I don't see how outsiders could know....
Although OldBod won't have up-to-date info on the drills they will know in great detail what "should" be there, they are experts in AIM and company law, they will still have "eyes and ears" in Doula and they still have (??) many millions of shares and options (??) in Bow to keep them on the ball.
I was very distrustful of CoC at first, but fair play to them we're still here and hopefully they will help get a decent selling price for the company when the new CPR is announced......