soul traders
- 27 Mar 2006 18:07
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?
squidd
- 02 Nov 2006 19:33
- 35 of 403
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.
squidd
- 02 Nov 2006 19:33
- 36 of 403
At last:
squidd
- 07 Nov 2006 05:19
- 37 of 403
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.
capetown
- 04 Dec 2006 14:55
- 39 of 403
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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
capetown
- 04 Dec 2006 14:57
- 40 of 403
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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
capetown
- 04 Dec 2006 15:02
- 41 of 403
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
capetown
- 06 Dec 2006 12:39
- 42 of 403
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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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2006 MoneyAM
capetown
- 06 Dec 2006 12:40
- 43 of 403
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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
capetown
- 06 Dec 2006 12:51
- 44 of 403
Any holders of these have any opinions of FAO offer and medium term prospects?
capetown
- 06 Dec 2006 14:57
- 47 of 403
Cheerts SOULTRADER
squidd
- 13 Jan 2007 12:12
- 48 of 403
A haul from Springtime bottom fishing and showing a modest gain, BLVN is my tip for Boom or Bust 2007. The new Cairn man does not appear to be a publicity seeker and perhaps at age 38 he is in no great hurry, yet the indications dating from his last sale of Cairn shares in Oct 05 are that he is moving quickly to build a new oil empire. With an enlarged acreage and healthy cash pile, he announced last week the start-up of drilling and spoke of exciting prospects- his first publc utterance that I've come across. It's still possible to buy in below the price he paid for his 50k (110k) stake in BLVN and I'm topping up.
sd.
capetown
- 13 Jan 2007 12:36
- 49 of 403
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BowLeven Plc
09 January 2007
BowLeven plc ('BowLeven' or 'the Company')
Operational update - commencement of drilling
BowLeven is pleased to announce that the GlobalSantaFe Adriatic VI drilling rig,
which has been contracted by the Company for a four well drilling programme, is
now on location and commenced drilling on 8 January 2007.
The initial well being drilled is an Isongo E 2 ('IE 2') location, the first
appraisal well on the existing Isongo E discovery in Block MLHP 7 of the Etinde
Permit in Cameroon. The primary objectives of the IE 2 well are to appraise the
extent and volume of the Isongo Sand 1 in the discovery well IE 1 and explore
the deeper Isongo sands which were water wet in IE 1. If successful, the well
will be suspended to allow for later re-entry and completion as a gas condensate
producer. The well will be drilled to a depth in excess of 8,500 feet and total
operational time is currently estimated at approximately 8 weeks.
Further update announcements will be made as appropriate.
Commenting on this, Kevin Hart, BowLeven's Chief Executive said:
'I am delighted that we have now commenced the drilling programme. With the four
wells to be drilled over the forthcoming months we have an exciting period
ahead.'
ENQUIRIES
For further information contact:
BowLeven plc
Kevin Hart, Chief Executive Officer 00 44 777 193 4974
Maitland
Neil Bennett 00 44 207 379 5151
Liz Morley
Notes to the Editor:
BowLeven is an African oil and gas group, based in Edinburgh and traded on AIM
since December 2004. BowLeven holds, through its wholly-owned subsidiary EurOil
Limited, a 100% equity interest in the Etinde Permit area being three shallow
water blocks in offshore Cameroon, West Africa; namely Blocks MHLP 5, MHLP 6 and
MHLP 7. In total BowLeven has approximately 2,300 km2 of exploration acreage
located across the Rio del Rey and Douala basins in the Etinde Permit. As well
as P50 hydrocarbon reserves and contingent resources on Block MHLP 7 (which has
had 11 wells drilled in it) the total acreage has very attractive exploration
potential. Bowleven has operated in Cameroon since 1999.
The discovery well IE 1 was drilled in 1980 by Total and encountered three sands
at the Isongo level (one partially gas bearing). A drill stem test was taken in
the top Isongo sand in IE 1 and flow rates of 8 mmscf/d of gas and 1,446 bbl/d
of condensate were recorded giving a condensate gas ratio of 180 bbl/mmscf.
The IE 2 well being drilled is located approximately 27 km from the power plant
at Limbe in Cameroon.
This information is provided by RNS
The company news service from the London Stock Exchange
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2006 MoneyAM
capetown
- 19 Feb 2007 09:49
- 50 of 403
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BowLeven Plc
19 February 2007
Bowleven plc: Well drilling update
Bowleven plc announces it has now completed drilling and logging operations on
the IE-2 well located in Block MHLP 7 of the Etinde Permit in Cameroon. The
well, which was drilled to appraise the IE-1 discovery made by Total in 1981,
reached a depth of 8675 feet subsea.
Based on petrophysical log evaluation, two hydrocarbon bearing zones have been
identified. The upper zone, located in the Biafra formation at a depth of
approximately 3310 feet, comprises approximately 50 feet of net pay in good
quality gas bearing sandstone. The gas is believed to be relatively dry with few
associated gas liquids.
The lower zone is located in the Isongo formation at a depth of 7850 feet. It
comprises approximately 130 feet of net pay in good quality sandstone and is
believed to contain both gas and condensate. A drill stem test is planned over
this lower interval and a further update will be issued shortly.
Enquiries:
Bowleven +44 131 260 5100
Kevin Hart
John Morrow
John Brown
Maitland +44 207 379 5151
Neil Bennett
Liz Morley
This information is provided by RNS
The company news service from the London Stock Exchange
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2006 MoneyAM
capetown
- 19 Feb 2007 09:50
- 51 of 403
Nice rise of 8% this morning,good news for former fao holders
squidd
- 19 Feb 2007 20:22
- 52 of 403
The news is certainly encouraging and the market is beginning to warm to the new management.
sd.
capetown
- 19 Feb 2007 21:20
- 53 of 403
Squidd,might get afew of these tommorrow ,in for a penny in for sd!