RNS today gives BowLeven's interim results and highlights the following:

RNS Number:2495ABowLeven Plc23 March 2006 BowLeven Plc23 March 2006

BowLeven Plc ('BowLeven' or 'the Company')
Interim results for the six months to 31 December 2005
Bow Leven, the Cameroon-focused oil & gas company listed on AIM, today announces its interim results for the six months ended 31 December 2005.

Highlights include:
* Cash of #62 million
* 3D seismic survey underway on blocks MLHP 5 and MLHP 6 of Etinde permit
* Reserves of 60.3 mmboe remain in place
* Four well drilling programme being prepared for early 2007
* Loss for the period #0.7 million
* Concentration on original strategic plan including implementation of Gas To Electricity ('GTE') Plant in Cameroon


At today's offer price of 195p, the company is valued at 57.7 million. However, they claim to have audited Resources consisting of 60.3 mmboe of Reserves and 58.2 mmboe of Contingent Resources. There is supposed to be a copy of the auditors' report on the website but I can't find it (UPDATE - have now requested this via e-mail) (NEW UPDATE - I never got a reply but the auditors' report can be found in the AIM admission document).

BLVN also has 60 million in cash, which ought to more than see it through its next lot of drilling.

This, however, is scheduled for 2007, which may be one reason why the SP is held back. But to me it still looks cheap. It is almost certainly oversold after the announcement of bad news in the latter half of last year.

Does anyone else have any thoughts on this?

MARKET REPORT: Max Petroleum gushing aheadBy Geoff Foster

Last updated at 10:00 PM on 20th February 2012

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Mad Max Petroleum was the red hot speculative stock as the slick oil sector continued to blaze a trail on takeover hopes.

Also helping the bullish mood was the strong oil price, which surged to a nine-month high above $121 a barrel after Iran said it halted exports to British and French companies ahead of a European Union embargo starting on July 1.

Shares of the Kazakhstan focused oil explorer gushed 3.25p, or 29.55 per cent, to 14.25p on rumours of a possible £354m or 35p a share cash bid from the bigger Zhaikmunai (0.1p dearer at 11.4p), which is based in north-western Kazakhstan.


Max’s share price got ahead of itself in 2007 and touched 200p-plus on hopes for substantial upside in Kazakhstan. But bulls didn’t take into account how long it would take for its projects in the area to bear fruit, while the credit crunch made the funding of its projects extremely difficult.
The shares have rallied from a bombed-out 52-week low of 2.6p as more optimistic news of its operations in Kazakhstan has prompted growing speculation that a major would come along and swallow the company at an attractive low price.

Gulf Keystone Petroleum gushed 14.25p more to an all-time high of 425.25p as speculation intensified that either Exxon Mobil or Total would soon launch a knock-out cash offer for the Kurdistan focused oil company. Up for sale Cove Energy advanced a further 7.75p to 156.75p on Anadarko bid hopes.
More...FTSE CLOSE: Greek bailout hope and rising oil prices help drive market up

Cameroon-focused oil company BowLeven, which soared 62 per cent on Friday following a bid approach from Dragon Oil (16.5p better at 563.5p), touched 138p but was then hit by profit-taking to close a penny off at 119p.

Nautical Petroleum advanced 18p to 352.5p as buyers responded to a WestHouse Securities strong buy recommendation and target price of 550p. Reflecting the strengthening oil price, BP traded above £5 for the first time since the Gulf of Mexico oil spill disaster. It touched 503p before closing 10.3p higher at 499.25p. Tullow Oil jumped 35p to 1601p.



Read more: http://www.thisismoney.co.uk/money/markets/article-2103890/MARKET-REPORT-Max-Petroleum-gushing-ahead.html#ixzz1myF2PrlN

Market seems to have decided that 120p is about right for an official offer although duifcult to say with Nomura shorting on behalf of Dragon. No way will Blvn accept anything below 150p and I doubt below 200p.

I agree with you...at the moment : just ridiculous sp.....

22 February 2012
16.40
Bowleven plc ("Bowleven" or the "Company")
Notification of Results

Bowleven plc will announce it half-yearly results for the six months ended 31 December 2011 on Monday 26 March 2012.

Next leg up tomorrow (hopefully)

That Cove counterbid has flipped over to BLVN and Afren

I was a day adrift..... Tut tut

All I need now to complete my day is that shit pile of an Indice called the Dow to roll over.

Takeover Bids Boost Oil Shares By Tony Luckett

Shareholders in small and medium-sized oil companies had plenty to cheer about last week. On the previous Friday, shares in the West African explorer Bowleven (LSE: BLVN.L - news) had soared after Dragon Oil (Xetra: 877789 - news) said that it was considering a bid, so when the market opened on Monday, investors piled into the sector pushing up prices across the board

But it would be no surprise to see another company make a bid for Bowleven. One potential candidate has to be the £14 billion Irish major Tullow Oil (Stuttgart: 591219 - news) , which already has considerable African interests.

In any event, it promises to be an interesting and hopefully profitable few weeks for shareholders in Bowleven, Dragon and much of the rest of the oil sector.

have talked myself into this one (at 130.25), having done the reverse with COV

You always were slow off the mark Ricardo!

yes indeed but as long as i make a bob or two, i'm happy enough

The market clearly thinks there is more mileage in this one . Happy to hold for the moment.

That's better!

is certainly looking good with the spike once again like last Friday

do not forget is on a BREAKOUT

The hot money has a new favourite!

Not no more,

http://uk.advfn.com/news/UKREG/2012/article/51393557

That is diabolical......been stopped out......

RNS Number : 3042Y

Bowleven Plc

28 February 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

28 February 2012

Bowleven plc ("Bowleven" or the "Company")

Response to announcement by Dragon Oil Plc ("Dragon Oil")

Bowleven notes the announcement made by Dragon Oil today and confirms that no detailed discussions were held with Dragon Oil and that no due diligence information was provided by Bowleven to Dragon Oil.

A copy of this announcement will be available at www.Bowleven.com

The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.