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?

Another good rise today reaching 72.50p at one time

sold some at 71.50p

Rising with volume today but on top of Bollinger BAND

Retracement to 66p was expected a 61.8 % Fibonacci, but it went lower to 65.25p

took some onboard at 65.50p

Bowleven , the AIM listed oil and gas explorer, spiked up 6.5p (10.3%) to 69.5p today, on no apparent news. The reason for the rise appears to be takeover rumours, which are spreading across various discussion forums, though there has been no substantiation and they seem to be based on nothing more than the firm's falling share price -- it's down by around half since late March

There is some life on the stock once again this morning, after retesting yesterday's retracement this morning

Bowleven will reach 160p within the next six months.
I'll return when it pops through 100p to remind you all of what you could have won (caravan, speed boat, family car)

you're sounding like MrP!

Lol, wait and see.
No more posts fom me on this thread until 100p.

Group Operations Update

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce the following update on activities:

Highlights

· Drilling operations commenced on IM-5 appraisal/development well on block MLHP-7, Etinde

· Draft Etinde exploitation authorisation application submitted to Cameroon authorities

· Gas sales term sheet for proposed fertiliser plant in advanced stages of negotiation

· Discussions ongoing with preferred bidder on Bomono farm-out

· Extensive and highly prospective exploration acreage position obtained onshore Kenya

· Group cash balance at end August 2012 circa $140 million

Kevin Hart, Chief Executive, said:

"We are pleased with the progress we have made on the proposed initial phase of the hub and spoke development plan for Etinde. The submission of a draft exploitation application and the commencement of drilling operations on the IM-5 appraisal/development well are key steps on the overall path to development.

We are also delighted to add a significant acreage position in Kenya to our existing exploration portfolio in Cameroon. This new acreage affords the Company exposure to an exciting new hydrocarbon province for a minimal capital commitment."

Wy the jump today?

up 4%

PETROFAC AGREES STRATEGIC ALLIANCE WITH BOWLEVEN
Petrofac and Bowleven, the Africa-focused oil and gas company, have agreed a strategic alliance to support the proposed development of the Etinde Permit, offshore Cameroon.

The alliance represents an opportunity for Petrofac to leverage its extensive capabilities to support Bowleven's proposed development and builds on the company's presence in West Africa.

Under the terms of the strategic alliance, which is subject to Bowleven shareholder approval, Petrofac will provide engineering capability to Euroil, Bowleven's Cameroonian subsidiary, to support the delivery of a Field Development Plan (FDP) for the proposed first phase of the development, pending satisfactory completion of Euroil's appraisal of its asset. Prior to approval of the FDP, Petrofac will be remunerated by Euroil for the provision of its service capability.

Subject to an agreed FDP and satisfaction of certain other conditions, including co-venturer and government approvals, the strategic alliance's risk service arrangements envisage that Petrofac will subsequently execute the planned development through the provision of project management, engineering, procurement and construction services, and will invest up to US$500 million as part of Bowleven's financial commitment to develop the asset. Petrofac's investment would be remunerated through a share of Bowleven's production revenue.

this was very important for BLVN and, because of that, you can bet that PFC struck a very hard bargain

On the bounce today with volume, Indicators certainly rising from oversold

mind you most oil stock were on the way up also

66.375p +1p

despite the large volume lately the price has been holding low, with just small risers every day. The large volume could prelude to a bid again

re - bid

71p +2p

A very large trade 5.7M early on has got the share price moving over 70p were resistance has been a problem lately

KEEP AN EYE

64.875p ( 64.75 / 65p )

Had the retracement till this morning reaching low of 64p that was 61.8 fibonacci. Though still down on the day should bounce from here.

Just like BPC did.........

Right to repply

there is allways the spoilers about, trying to tell us or something else worse part of their lowly live I suspect.

If you did buy BPC and 18 % gain in 24 hours could have been done and yet again is trading at asbout the time of mention, so what is your problem?

but you do not ever make any profit like that most likely...

... most likley cos you are a "boy"

btw - is 65.385p now so is going the way I expected

8 hour breakouts ...... wow.,.