Investors Chronicle -Simon Thompson6 Apr 2017 14:31
"The company is carried for $40m of net drilling on two appraisal wells, and is due to receive a further $25m once the final investment decision is made. Etinde accounts for half of Bowleven's book value of 89p a share
The bottom line is that Bowleven is in play and I really don't expect the company to be listed on the London market this time next year. So, having included the shares in my 2016 Bargain Shares portfolio at just shy of 19p, and rated them a buy again in this year's Bargain Shares portfolio, I feel a realisation value of 50p a share is not unreasonable in a break-up scenario, representing a 60 per cent discount to Arden Partners' latest risked net asset value (NAV) estimate. Buy."