Up 10% today any interest.

Shares of this company are nor for widows or orphans but could surge back up is they strike lucky. The share graph suggests a possible heavy fall may come soon if the news dissapoints or if priced-in good news does not come soon enough.

I would suggest to my granny to sell her house and invest the proceeds in the shares of this company but ......
only if her house stands at the edge of cliffs suffering from sea erosion about to tumble into the sea and if granny has a strong desire to take a big gamble .

Looking really strong and on the move in the right direction....360p here we come.,.

News of Sapele-2 due,15/20 days from 10th April.Tends to be a leaky share,so lets hope this rise is on a positive result?

Excellent news from this very leaky company.

11 May 2011



Bowleven plc ('Bowleven' or 'the Company')



Sapele-2 well, Block MLHP-5, Etinde Permit, Cameroon



Bowleven, the West Africa focused oil and gas exploration group traded on AIM is pleased to announce that the Sapele-2 well drilling in the Douala Basin, offshore Cameroon has encountered a total of approximately 35 metres of independently log evaluated net hydrocarbon-bearing pay in the Omicron objectives based on the results of drilling and conventional wireline logs. A testing programme is expected to commence, subject to attaining various approvals, on completion of the logging programme.





Highlights

Approximately 35 metres of independently log evaluated net hydrocarbon pay encountered in the Omicron objectives at Sapele-2.

Preparing for testing programme at Sapele-2.

Sapele-1ST testing programme underway.





Sapele-2 drilling update



The principal objective of the Sapele-2 well was to appraise the Omicron discoveries encountered in the Sapele-1 exploration well. The well was drilled to a total depth (TD) of 3,749 metres as planned in water depths of 25 metres, penetrating both the Lower and Deep Omicron reservoir objectives at a location around five kilometres South West of the Sapele-1 location.



Bowleven, as operator, provides updates for the reservoir intervals encountered at Sapele-2 below:



Lower Omicron

Based on conventional wireline logs, provisional net pay is independently estimated to be approximately 19 metres, with an average porosity of 17%.

Deep Omicron

Based on conventional wireline logs, provisional net pay is independently estimated to be approximately 16 metres, based on conventional wireline logs, with an average porosity of 17%.



In both intervals the GC tracer indicates the probable presence of oil however due to borehole conditions it was not feasible to recover reservoir fluid samples at this stage. It is intended that both hydrocarbon type and formation pressure will be confirmed during the future test programme.







Forward plan



Further detailed analysis, including test data, is now required to assess the implications of both the Sapele-2 and Sapele-1ST wells on current resource estimates. A testing programme is currently underway on Sapele-1ST and the results are expected in the next two to three weeks. An update on Sapele-2 testing is expected in the next three to four weeks.



Due to the stratigraphic nature of the Omicron fields further drilling will likely be required to determine with greater confidence the potential size of these existing discoveries.



A map indicating the location of the Sapele-2 well is available on our website www.bowleven.com under the heading Presentations; the presentation is titled "Sapele drilling locations".

Back in the winners enclosure
- BUY
Successful Sapele-2 well results; No ifs, no buts
BLVN's Sapele-2 well in block 5 offshore Cameroon has successfully encountered
35 metres of net hydrocarbon pay (19m at the Lower Omicron level and 16m in
the Deep Omicron horizon). Importantly, initial logging/trace indications point to oil
(to be confirmed by a forthcoming flow-test) and much better reservoir quality than
that found at other well locations in the block. Given that this is the highest net
pay found in the block so far and that it has come ahead of expectations, we view
this result as unequivocally positive.
Proving connectivity between finds offers higher prize
Whilst management has provided no volumetric indications at this stage they
will come once the flow-tests are completed in 3-4 weeks time - we see the
Sapele-2 results potentially pushing resource estimates in the block significantly
higher. Sapele-2 was drilled 5km away from the original Sapele discovery in the
P20 polygon of the field. As such, we believe that if the forthcoming flow-test were
to prove that Sapele-2 is connected to the original find, we could see P90 in-place
resources for the Sapele field reaching 250-300mmboe (from the 105mmboe
originally indicated). Should the wells be connected, we would also expect a
material improvement in recovery factors. We expect more details at the
conference call with management today at 8.30am (BST): dial in: +44 (0)207 138
0819; pass code: 4137621.
Reiterating Buy rating; upping PO by 35p
Reflecting the discovery, we raise our NAV and PO by 35p to 525p. We note that
this increase in the NAV does not assume a fully connected reservoir covering
Sapele/Sapele-2, hence, a successful flow-test could still push our numbers
higher. Considering the c.30% drop in the stock over the past 40 days, we believe
that todays result should restore market confidence in the opportunity set that
Bowleven enjoys and significantly improve sentiment towards the stock. BUY.

Look at this go, glad I bought in yesterday and topped up first thing this morning.,.

We need flow rates and confirmation of oil,if so, this should really fly? I think at this level and with known news this is a bargain? imho

News expected a week ago still not released. Very suspicious.

No news is bad news.

Looks like market thinks so too!

In for a few at this price,worth the punt for what they already have,IMO?

Some healthy buys going through late day at 269p and 200k at 282p?

This was what happened in April this year with Bowleven... will it be the case with the muted response now?


Bowleven value hit by Cameroon drilling setback

21 Apr 2011


NEARLY 93 million was wiped off the market value of Edinburgh-based oil and gas firm Bowleven after the release of bad news about a promising sidetrack well at its closely watched exploration block off Cameroon.

The company is now worth 647.8m after the stock, which is listed on the junior AIM market, fell 43p, or 12.5%, to 300p, a five-month low.

It revealed to the market that it failed to recover drilling data and reservoir fluid samples from a sidetrack well from its Sapele-1 well where oil had been found in high quality sands in November.

The company said it needed to do more detailed analysis about the impact of its findings on resource estimates.

Kevin Hart, chief executive of Bowleven, said: We are pleased with the results so far on Sapele-1ST (sidetrack).

The initial log evaluation is encouraging as it endorses the presence of light oil and gas condensate in the Lower and Deep Omicron fairways encountered with the original Sapele-1 well.

Preparations are now under way for a testing programme at Sapele-1ST to assess connectivity and deliverability.

Given their stratigraphic nature, further evaluation, including appraisal drilling, is required to fully understand sand distribution within these tertiary fairways, however results to date are promising in the context of Sapele and the Douala Basin as a whole.

Bowlevens shares have more than doubled in the last year amid excitement in the City about the prospects for the Douala basin. Analysts warned yesterday that it might not be a straightforward prospect.

Bowlevens acreage offshore Cameroon, we believe, has significant potential but at this stage it looks like extracting that potential could take longer and be more complicated than perhaps the market was anticipating, said analysts at Evolution Securities.

Earlier this month Bowleven reported a pre-tax loss of $15m (9.36m) for the six months to December 31, 2010.

But the company is cash rich after conducting a 70m share placement in November to fund its exploration and drilling activities in the Douala Basin and Etinde areas in the waters off the coast of Cameroon.

Obviously investors are not impressed with the RNS today... flow rate not too impressive.

The falling knife is building momentum... Sell now at 248p.

234p... very grim

GRimmer now,making a good buy for the patient? imo

LOL.

Was this not pumped up by the same brokers pumping GKP ?


niceonecyril - 14 Jan 2011 09:22 - 87 of 121
Baeclays top tip for 2011.

Top tip has lost more than 50%.
That explains why Barclays profits dropped by a third.

crikey more south here!