Up 10% today any interest.

yeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!

Feared the worst this morning, as the FTSE was down 100 pts and the figures appeared worse than expected; however, markets turned on a sixpence (or should that be a Euro?) and apparently the numbers were in line with expectations.

Report on Sapele 3 and revised volumetrics (which can only considerably increase existing Resources) to look forward to now before the year end.

Very happy that my early morning pessimism was proven wrong.

It just has to go up, 23000 barrels per day....and it could increase...

very positive rns imo - good day here and expect more soon - gla

"The initial discovery of oil and gas condensate with the Sapele-1 exploration well was a key event for the company.

"The subsequent three Sapele wells drilled all encountered hydrocarbons and we are particularly encouraged that at every location where these intersected the Deep Omicron interval we have encountered oil.
"These results highlight the significant prospectivity and potential of our acreage in the Douala Basin.

"As we continue to successfully explore and appraise our acreage we have been actively progressing integrated development options for the entire Etinde Permit.

"The conversion of resources to reserves remains a priority for the group as we seek to create value for our shareholders.

"We are now more convinced than ever about the exploration and development potential of our acreage and we look forward to pursuing the opportunities our Cameroon acreage holds."

RF, the 23,000 bopd is from a different block to that which is currently being drilled; the two are not connected.

Once Sapele 3 is completed, by the end of the year I should think, Bowleven will have a better idea of Resources. I guess these will be added to the 225mmbbl P50 Resources attributed to IE3.

A lot going on and they keep hitting oil or gas with every drill. The only reason the SP has taken a bashing is disappointing flow test results from two previous appraisal wells. One of which was not considered in an optimal location and the second suffering from formation damage.

A lot riding on Sapele 3 results which could be made public at any time.

http://www.investegate.co.uk/Article.aspx?id=201111040700234593R

satisafactory week here - looking forward for the next news which is anticipated to be good again - gla

niceone - niceone :-)) onwards and upwards

ii buying again - 450k buy LOL

A month now since Sapele 3 results were announced. Apparently the well is undergoing MDT and coring, how long can it take? Like many AIM oil and exp comps, nothing is done quickly and PIs are kept in the dark in an almost contemptible manner, meanwhile the SP drifts ever downwards.

(As an exception, Rockhopper are really good at investor relations)

It has lost its upward momentum.

Hyleo, you have a genius for stating the blindingly obvious. Keep up the good work, don't know how we'd manage without you.

My guess is that the MDT etc is not going well. (An observation which has about as much merit as post 233 of 233).

from iii


JUST SPOKE TO BOWLEVEN

ronson333

Spoke to Emma on 0131 524 5678, and they did recieve approval to continue drilling towards the Epilson a few weeks back. I did ask why they didnt RNS that information, she said they felt it wasn't important enough (I did say in these market conditions they should remove any uncertainty by supplying ALL information to the market ).

I'm afraid 60p is on the cards unless the awaited news on Sap 3 is released pretty smartly. Even then, in these markets and if positive it may not have much effect on the SP.

Yes that's how i see it,almost sold am,but thought it worth waiting for news,probably the wrong choice?

Cyril, pleased you didn't sell - an outstanding result!

Cheers,yes an excellent result, now lets see what response we get in this dreadful market?

I could have sold yesterday am, higher than their offering at present. Hoping it's to flush out the sell on news and we will see the value of todays update later,wishful thinking maybe?

A post which seems to sum up the market at present and why i'm considering selling.

MARGIN REQUIREMENTS-The margin requirement on a stock like Medusa is some 40%.

thus you have forced sellers,BEING FORCED to diminish their overall portfolio margin requirements and looking to reduce the heaviest margin requirement stocks first so they can stay at the table. That's the SB /CFD MARKETS for you.Welcome to 1929 and horrific deleveraging.Whether the stock is cheap or not,is, for the time being,irrelevant.Pointless to rationalise,you have forced selling and it won't just apply to Medusa,as we all know.