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?

Good stuff Chiva20, thanks for the info -will take a look at the other BB.

However, I'm increasingly inclined to look elsewhere as I'm seeing other co's with wider potential. MOG comes to mind - the latest oil-in-place estimates are awesome, assuming they are trustworthy.

It's a toughie - wish I had about twenty grand of free cash to splurge on the latest hot prospects, but I'm going to have to box clever and be patient!

Thanks Soul I've put MOG on the watchlist looks like a great find. Now where's that 20k? ;o)

Hi Chiva, no worries. Actually MOG didn't rocket away in quite the way I had anticipated, but that's investing for you. I am now out of BLVN with a small profit, having spent the bulk of the proceeds on EOG Warrants but will keep an eye on BowLeven for the future. I think my shopping is at an end now as I need to sit back patiently for a while and let some of the potential multi-baggers do their thing.

Good luck, etc.
ST

Soul
I reckon the sp of this stock is low because of the awful reputation the mgt has in running the business.....also attempting to line their own pockets thru an abortive rebasing of options which got bombed out by the major stockholders
As far as the prospects are concerned.....
the sp hs no premium for the potential for finding oil.....which is quite bizarre given the proven reserves were independently assessed

The sp does not even reflect the increase in oil prices over the past 6 months
The next RNS will almost certainly be one of the following........
.......Out of court settlement with sacked CEO Rhind
.......Out of court settlement with former farm in partner suing for return of $3m investment
.......Update re discussion with Cameroon gov re gas / oil power station contract
.......Announcement of deal on farm in partner
.......Resignation of one or more (already discredited) Directors
.......Sale of the Co to a 3rd Party with proven expertise in oil exploration
Most of these Rns announcements will have a positive impact on the sp hence this is a very good stock to get into around 180p where it is covered by cash in the bank
Indeed there is every likelihood that the sp will rise to well over 200p following a positive RNS

Goosy, your crystal ball is quite clearly a lot less cloudy than mine - SP up today:

BLVN Bid: 205p Offer: 207.75p Change: 15.25

No particular news around, though, so I guess this is just the realisation that it's oversold.

Including by me, cos I'm still out, having whipped all my stake and profits into something else!

Nice advances in the SP in recent days on the back of news of a new CEO being appointed. Was tempted to drop my VOG holding and swap it for some BLVN but am not sure if VOG has much further to drop. BLVN should continue to rise though?

All IMO, PDYOR.

Soul
I think the recent rise in BLVN reflects improved credibility of Co on the back of a respected FD agreeing to join...........Also if you consider the issues which will have formed much of the early discussions with Kevin Hart you can`t help concluding that he also reckons the sp is grossly undervalued and could rise substantially under his leadership............
The break up value of the business must be around 100m without drilling another well.......
c50m cash pile...if not earning much wherever it has been invested...short term
c 30m farm in deal for say a 30% stake
c20m...for reserves already proven and currently the subject of negotiations with the Cameroon Gov re a Gas /Oil Contract to fuel an existing onshore Power station
ie around.........360p /share
Also
most oil Cos have an "intangible" premium in their sp of up to 30% for yet to be discovered oil..........BLVN have nothing due to their poor mgt reputation and two dry wells
Add this in and you get a number in excess of 450p.......
So will the sp carry on rising,,,?
I suspect it will fluctuate up and down in ranges up to 5% with the ups outweighing the downs over the week and the sp climbing steadily to 300p by the time Hart arrives in the autumn.........DYOR

Goosy, a good post, thanks.

At last: an RNS confirming that Kevin Hart will be joining BLVN on the 17th November, and I see that he's bringing with him Cairn's leading bloodhound, Ed Willett in the new year. They also announce an immediate change of broker, to Hoare Govett, who is Cairn's advisor.
The market seems to be reacting favourably and it may well be helped further if some of HG's clients are encouraged to come aboard. Let's hope there is some oil to be found in Cameroon.

At last:

It appears that so far, only the Scottish newspapers have spelled out the implications behind Kevin Hart's move from Cairn to BLVN (google will take you there). My guess is that there will be an even bigger jump in the sp when the news gets through to the rest of the UK.

Good find, Squidd.


Wish I'd paid more attention sooner!

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BowLeven Plc
04 December 2006

4 December 2006



BowLeven Plc (the 'Company')

Notifiable Interest


The Company announces it received notification on 30 November 2006 that on 27
November 2006:



Fidelity International Limited ('FIL'), including its direct and
indirect subsidiaries, being a non-beneficial holder had an interest of
2,143,136 ordinary shares of 10p each in the Company, representing 6.30% of the
issued share capital of the Company. This represents the entire holding of FIL
in the share capital of the Company.



FMR Corporation ('FMR'), being a non-beneficial holder, no longer had
an interest in the share capital of the Company.



The Company also received notification on 30 November 2006 that on 24 November
2006:



FIL had an interest of 1,699,536 ordinary shares in the Company,
representing 4.99% of the issued share capital of the Company.



FMR had an interest of 855,200 ordinary shares in the Company,
representing 2.51% of the issued share capital of the Company.





Previously on 6 November 2006 the Company announced that:



FIL had an interest of 309,200 ordinary shares in the Company,
representing 0.91% of the issued share capital of the Company.



FMR had an interest of 995,536 ordinary shares in the Company,
representing 2.92% of the issued share capital of the Company.







For further information please contact:



Peter Wilson, BowLeven Plc: 0131 260 5100

Adam Westcott, Noble & Company Limited: 020 7763 2200

Liz Morley, Maitland: 020 7379 5151



This information is provided by RNS
The company news service from the London Stock Exchange





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BowLeven Plc
04 December 2006

4 December 2006



BowLeven Plc (the 'Company')

Notifiable Interest


The Company announces it received notification on 30 November 2006 that on 27
November 2006:



Fidelity International Limited ('FIL'), including its direct and
indirect subsidiaries, being a non-beneficial holder had an interest of
2,143,136 ordinary shares of 10p each in the Company, representing 6.30% of the
issued share capital of the Company. This represents the entire holding of FIL
in the share capital of the Company.



FMR Corporation ('FMR'), being a non-beneficial holder, no longer had
an interest in the share capital of the Company.



The Company also received notification on 30 November 2006 that on 24 November
2006:



FIL had an interest of 1,699,536 ordinary shares in the Company,
representing 4.99% of the issued share capital of the Company.



FMR had an interest of 855,200 ordinary shares in the Company,
representing 2.51% of the issued share capital of the Company.





Previously on 6 November 2006 the Company announced that:



FIL had an interest of 309,200 ordinary shares in the Company,
representing 0.91% of the issued share capital of the Company.



FMR had an interest of 995,536 ordinary shares in the Company,
representing 2.92% of the issued share capital of the Company.







For further information please contact:



Peter Wilson, BowLeven Plc: 0131 260 5100

Adam Westcott, Noble & Company Limited: 020 7763 2200

Liz Morley, Maitland: 020 7379 5151



This information is provided by RNS
The company news service from the London Stock Exchange





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2006 MoneyAM

For those of us who now hold or will hold some shares in BLVN re FAO thought i would post todays two rns,as the increased holdings have to be good news for the longterm i guess,any other FAO holders views on blvn would be welcomed with interest,

CYNIC i know i should have listened to you on this one but am stuck with them now,and at least we are getting something which is better than NOTHING

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BowLeven Plc
06 December 2006


6 December 2006

BowLeven Plc ('BowLeven' and the 'Company')

Results of AGM, EGM and Appointment of Nominated Adviser

The Board of BowLeven announces that at the annual general meeting and at the
extraordinary general meeting of the Company held to grant authority to allot
shares and to disapply statutory pre-emption rights over up to 10 % of the
Company's issued ordinary share capital in connection with the BowLeven CSOP and
the BowLeven Long Term Incentive Plan, both of which were held today between
11.30a.m. and 12.00p.m., all the resolutions were passed.

The Board of BowLeven also announces with immediate effect the appointment of
Hoare Govett Limited as the Company's nominated advisers.

For further information please contact:

Peter G Wilson, BowLeven Plc: 0131 260 5100

Andrew Foster
Bertie Whitehead
Sean Wegerhoff, Hoare Govett Limited 020 7678 8000

Liz Morley, Maitland: 020 7379 5151




This information is provided by RNS
The company news service from the London Stock Exchange





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BowLeven Plc
06 December 2006


BowLeven Plc ('BowLeven' or 'the Company')

6 December 2006

Directors Declaration

Further to the announcement on 2 November 2006, the appointments of Ronnie Hanna
as Non-Executive Chairman and Caroline Cook as Non-Executive Director of the
Company have become effective following the AGM held earlier today. Furthermore,
with effect from the AGM, Terry Heneaghan and Dr A. Easton Wren, formerly
Executive Chairman and Non-Executive Director respectively, have retired from
the Board of BowLeven.

For further information contact::

Kevin Hart, BowLeven plc 0131 260 5100
Neil Bennett, Maitland 020 7379 5151

Pursuant to the AIM Rules, the following information in respect of Ronnie Hanna
and Caroline Cook required to be disclosed is set out below. Other than this
information, there is no further information that is required to be disclosed
under paragraph (g) of Schedule 2 of the AIM Rules.

Ronnie Hanna

Full Name and Age:
Ronald George Hanna, aged 64

Current shareholding in BowLeven:
52,675 ordinary shares, representing 0.15% of the current issued share capital
of BowLeven

Current Directorships and partnerships:
AG Barr plc
Apremont Limited
Dumbarton Property and Trading Company Limited
Edinburgh New Income Trust Plc
Kenmore Homes Limited
Peatallan Plc
QMC Enterprises Limited
Queen Margaret University College, Edinburgh
Parkview Basingstoke LLP
Cuthill LLP

Previous Directorships and partnerships:
Bett Brothers plc
Edinburgh High Income Trust plc
Edinburgh High Zeros plc
Gladedale Holdings plc
Marlyn Ventures Limited
TIP Limited
Tubular (PHV) Limited
Strada Developments Limited

Members voluntary liquidation:
Edinburgh High Income Trust plc
Edinburgh High Zeros plc

Caroline Cook

Full Name and Age:
Caroline Elizabeth Cook, aged 38

Current shareholding in BowLeven:
No current shareholding

Current Directorships and partnerships:
None

Previous Directorships and partnerships:
None




This information is provided by RNS
The company news service from the London Stock Exchange





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2006 MoneyAM

Any holders of these have any opinions of FAO offer and medium term prospects?

Hi Capetown,

Thanks for your mail. I no longer hold BLVN, having got out on a modest profit some time ago because I fancied having a pop at another share. Nice to see I was right about the low valuation, though :o)

Good luck with your holding.

ST

FWIW, I haven't loooked at FAO recently but did a few months back and thought they might be undervalued. There seemed to be reasonable prospects and I am quite sure that BLVN's management are convinced that they can make the deal pay.

IMO, PDYOR.