Member Info for slipanchor

igrid No nothing that technical, I based it on what Luckoil & New Age paid for the Farm-In which i think worked out at $2 a barrel According to Hart and his Geo who's name fails me, the amplitude on the seismic of the appraisal wells was much brighter and deeper than the MI5 drills and he expected 3 Trillion cu ft of gas and the oil equivalent, he also indicated that if the appraisals were a success then the sidetrack or the 3rd well was nailed on. Of course, the recoverable resources from the appraisals cannot be calculated until all the well details are amassed.

Back of a fag packet calc's before appraisals �0,57 Assuming successful appraisals �1.00 The above conservative estimates based geo's prospective recourse estimates going back to the previous BOD.

He added that successful appraisal results will create "a much more lucrative commercial project to be able to take to a final investment decision." Tentatively, a final investment decision is targeted for next year, with first production about three years later. Chahin said the FLNG scheme is a multi-billion-dollar project, so Bowleven may decide to scale back its interest or sell it entirely instead of funding its way through the development. That might be the opportunity to realise some value for shareholders or find out shareholder appetite to play along the value chain. xxxxxxxxxxx An interesting couple of paragraphs are they going to take their holding 29.9% and make an offer if it is rejected then we carry on along the value chain which may result in a fundraising to finance our part of FID. Or there could be an offer in the pipeline ready to test our appetite. Just a thought.

May get a little help from the oil price up $1 to $67

Put the remainder of my pot into them Friday.

Yes, you do get some idiotic comments especially when Merril Lynch has just bought 5.001% of the company on behalf of Bank of America.

Volume picking up will be interesting to see what happens when Wall Street opens.

strikeforce Great find, maybe the reason for the yesterday's interest.

strikeforce. Agree there is a small gamble involved, I'm no geo or rig worker but they are appraisal wells and part of the same structure as the m5 drills so they are pretty much nailed on and worth the gamble, what also gives me confidence is the fact that two of the big boys have recently bought 5% each and I don't think they are in it for half measures.

There will be a takeover at some stage but if COC is going to achieve maximum shareholder value as they have stated many times it will be after the appraisal wells. The reason they have topped up could be that we are now entering into a closed period with news imminent regarding the movement of the Drilling Rig and the fact that we are doing back to back drills we could be in a closed period for some time. So COC will want to take up their position before the RNSs start flying about and the market aware.

A large % of BLVN shares are in the hands of COC INST& HEDGE FUNDS with a limited amount of tradable shares on the market, when news arrives and demand for the shares takes place the SP is going to move north at a rate of knots. AIMHO DYOR.

tombi1 They will probably leave it to New Age or Lukoil to sort out after the TO whoever the acquirer might be.

Or should I say lack of them? Half the trading day has gone and not a single share sold or bought. It looks as though PIs have finally got the message and are holding tight for the end game.

Up to date news seems to indicate that SNH has not exercised its right to back in for its 20%, the reason probably being so it doesn't have to pay its share of the appraisal drilling costs.

The announcement of a drilling campaign by the media I would class as price sensitive information why no RNS. You don't create shareholder value by withholding information.

No reaction from the markets to the drilling news, or is this the calm before the storm. Maybe the spread of 1.2p 3.9% is putting off the traders.

Bomono was a white elephant from the moment they hired a heap of scrap metal to try and drill it, spending 2.5 m on the Rig before it was fit for purpose, which resulted in a 6 months delay. Hart deliberately entered into the FO to leave a complicated mess for the new BOD to clean up. He is still attending race meetings with his horses but we can rest assured he is not spending our money.

Late afternoon activity may point to an RNS am, fingers crossed.

There's a village lost one of its residents.

Tread carefully, wait for the news, low volume mostly O trades has all the hallmarks of a P&D.