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?

StockMarketWire.com
Bowleven has confirmed that while the current farm-out agreement with Victoria Oil and Gas relating to the Bomono production sharing contract lapsed at the end of December, talks with the Cameroon government to advance the project were continuing.

Bowleven and VOG signed a farm-out agreement relating to the Bomono production sharing contract on 6 Mar.

On 17 Sep, VOG elected to exercise its option to extend the termination date of the agreement to 31 Dec

Etinde - Rig Contract
Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of its Etinde asset, in which the Company holds a 25% offshore interest.

The Company's partner, New Age Cameroon Offshore Petroleum S.A., a wholly owned subsidiary of New Age (African Global Energy Ltd) ("New Age"), the Operator of the Etinde PSC, has entered into a contract with Vantage Drilling International, an offshore drilling contractor for the jack-up rig the "Topaz Driller".

The Topaz Driller, has been contracted for 150 days to perform drilling services in Cameroon on the Joint Venture's proposed appraisal wells, on the Etinde licence. Planning for the delivery of the appraisal wells is ongoing and the Company currently expects the well IM-6 spud during Q2 2018. The Topaz Driller is currently in South East Asian waters and will transit to Singapore before mobilising to Cameroon.

Been moving up a lot in last couple of days. Almost 8% Friday and 4% so far today. Looks like there may be life again in the old dog. I wouldn't be surprised to see it sold before year end.

Interim Results
Bowleven, the Africa focused oil and gas exploration group traded on AIM, today announces its unaudited interim results for the six months ended 31 December 2017.

HIGHLIGHTS
· Etinde two well appraisal programme progressed with partners; first well spudding Q2 2018

· Significant, ongoing reduction in Group G&A

· Improved relationships and alignment of planned activity within the Etinde joint venture partners

· Strengthened relationships with the Government of Cameroon and SNH, the state oil company and Oil & Gas sector regulators

Operational

Etinde
· Two appraisal well locations have been agreed with our partners targeting combined additional volumes of approximately 1 to 2 tcf of gas in place (GIIP). A 2 tcf increase in GIIP resource approximates to an addition of 0.8 bcf of dry gas and 131 mmbbl of condensate.

· Bowleven's share of the drilling and testing programmes' expenditure is covered by a carry with a nominal value of up to $40 million

· Rig contract signed on behalf of the JV partners with Vantage for the 'Topaz Driller', a modern jack-up rig which will mobilise to Cameroon waters shortly

· First well, IM-6, due to be spud in Q2 2018

Bomono
· Farm-out transaction with Victoria Oil and Gas plc ("VOG") terminated on 31 December 2017 following the inability to meet a number of conditions, including regulatory approval. Bowleven, VOG and SNH remain in informal discussion regarding a proposed replacement transaction. The Group continues to explore all available options

Corporate
· Group cash balance at 31 December 2017 circa $83.3 million (excluding $0.5 million held on deposit in respect of a guarantee) with no debt and material financial commitments

Eli Chahin, Chief Executive Officer of Bowleven plc, said:
"This first set of interim results since the governance overhaul and appointment of a new management team in March 2017, reflects the swift turnaround achieved through the implementation of a new strategic and operating model. The Company has put in place a fit for purpose business model that has enabled us to focus on creating value for shareholders whilst maintaining strict capital discipline.

Our interest in the Etinde field offers the potential to deliver significant returns for the Company, its partners and its shareholders. The appraisal programme planned for this year, for which Bowleven is fully carried, is the next step in maximising the value from this world class asset, with preparation well underway for this tightly-managed appraisal drilling campaign commencing in Q2 2018.

Our strong balance sheet, lean cost base and interest in a major asset, present an almost unique value proposition in the London market. I look forward to reporting on progress in the coming year as we seek to maximise value for all shareholders."

Bowleven, the Africa focused oil and gas exploration group (AIM: BLVN), is pleased to announce the arrival of the Topaz-Driller rig in Cameroon waters.
The two well appraisal drilling campaign on the Etinde asset, in which the Company holds a 25% interest, is due to commence shortly with the IM-6 well expected to spud at the end of May.
The Topaz-Driller has been contracted for 150 days.

I hold shares in this and it has performed very well this year. There is a saying that the best way to ruin a good oil/mineral prospect is to put a hole in it. In this case, I think the chance of further success is more than even.

Etinde Operational Update

Spud of IM-6 well, Etinde, Cameroon
Bowleven, the Africa focused oil and gas company traded on AIM, is pleased to announce the spud on 21 May 2018 of the IM-6 appraisal well at the Etinde block, Cameroon, by the block's operator, New Age Cameroon Offshore Petroleum SA ("NewAge").

The IM-6 well is the first of two appraisal wells to be drilled in 2018. The Etinde Joint Venture partners have contracted the Vantage jack-up rig "Topaz Driller" for this campaign, Drilling and logging operations of IM-6 are expected to take approximately 100 days in total with Schlumberger providing most of the drilling services. As previously announced, the well is designed to delineate the size and extent of the Intra-Isongo stratigraphic sand traps as a primary target, with the Upper Isongo sand as a secondary target.

New Age is the operator of the Etinde field, with a 37.5% working interest. Bowleven and LUKOIL are partners with a 25% and 37.5% working interest respectively. The Company intends to announce the final well results after the end of drilling and testing operations

Eli Chahin, CEO of Bowleven said:
"We are pleased to have commenced our 2018 two well appraisal drilling programme at Etinde. This is a significant event for Bowleven, its shareholders, partners and stakeholders in Cameroon. I would like to thank New Age's operations team and our drilling contractor, Vantage, for all their efforts in achieving this milestone.

The appraisal program, for which Bowleven is fully carried, aims to further improve the already robust economics for future development of this world class asset and we look forward to providing an update on IM-6 results over the coming weeks."

Spud of IE-4 well, Etinde, Cameroon 31.08.18
Bowleven, the Africa focused oil and gas company traded on AIM, is pleased to announce the spud of the IE-4 appraisal well at the Etinde block, Cameroon, by the block's operator, New Age Cameroon Offshore Petroleum SA ("NewAge").

The IE-4 well is the second of two appraisal wells to be drilled in 2018. The Etinde Joint Venture partners have contracted the Vantage jack-up rig "Topaz Driller" for this campaign. Drilling and logging operations of IE-4 is expected to take approximately 90 days in total with Schlumberger providing most of the drilling services.

The IE-4 well will target a previously undrilled sand package "Drillbit" of Intra-Isongo origin, which is believed to be analogous to the 410 sand package at the IM-5 location. Any discovery in this appraisal well could prove up or de-risk a further 0.2 to 0.6 tcf of resources (Drillbit, Bolt, Crowbar sites).

It is expected that it will be required to drill to -2840 meters True Vertical Depth Subsea ("TVDSS") to fully penetrate the prognosed reservoir targets. A further ~50 meter rat hole will be required to allow for logging sump. Well Total Depth will be at -2890 meters TVDSS.

New Age is the operator of the Etinde field, with a 37.5% working interest. Bowleven and LUKOIL are partners with a 25% and 37.5% working interest respectively. The Company intends to announce the final well results after the end of drilling and testing operations.

Update on ongoing post drilling analysis of IM-6 well
Bowleven, the Africa focused oil and gas company traded on AIM, is pleased to announce the completion of drilling of the IE-4 appraisal well at the Etinde block, Cameroon, by the block's operator, New Age Cameroon Offshore Petroleum SA ("NewAge").

The object of the well was to appraise two Intra-Isongo aged 410 sand packages in two fault bounded structures. The primary target, "Drillbit", is structurally higher than the lower, "Crowbar" sand package, which partially sits below and to the west of Drillbit

The crowbar 410 sand package is tagged very close to the separating boundary fault between the two structures.

Initial wireline logging and down hole fluid sampling has been completed and an initial interpretation of the data has been completed. The preliminary results are:

· The Drillbit sand body is water saturated at the IE-4 location. Whilst there are indications that hydro-carbons may have been present in the Drillbit sand package at one time, the fault block either never completely sealed or was opened at a subsequent time.

· The Crowbar 410 sand package results indicate that the tagged location shows low permeability, probably due to being adversely affected by fluid flow around the fault. Fluid sampling indicates that the upper part of the 410 sand package at the IE-4 location is volatile light Oil or Condensate bearing with gas. This appears to be sitting above water saturated lower 410 sands. The data suggests that the Crowbar 410 sand package is partially hydrocarbon charged.

In addition, an unprognosed sequence of thinly bedded high porosity sand horizons of about 30 metres gross (20 metres net) thickness was drilled some 50 metres above the drillbit 410 sand package. Fluid sampling has shown the sands to be light oil saturated.

Following and researching HARRYCAT - you are not alone.

Seems like yesterday's conference call went down like a lead balloon but I suppose there is a limit to what can be said that is not already public knowledge.
I do hold some of these but wish I never had. The previous mob appeared to have treated it like a personal piggy bank. At least the new lot have put money in, by way of share buys, instead of taking it out in the form of exorbitant pay and benefits while the share price tanked. Cameroon is the real drag with another tin pot dictator. One man, one vote, vote once.

A 15p special dividend announced. They now need to flog the rest off.

StockMarketWire.com
Oil and gas company Bowleven approved Monday a special dividend of about £50m.

The company said it had decided to distribute a significant portion of its surplus cash resources to shareholders following the completion of the two well drilling campaign in October 2018.

As at 30 November 2018, Bowleven held $80m in cash and financial instruments and expected to receive a further $25m at Final Investment Decision on Etinde.

'With the 2019 budget agreed, the Board is comfortable that the Company's resulting cash position will allow it to reach FID, with our JV partners, creating a further significant value accretive event for shareholders and immediately allowing for the payment of $25 million under the terms of the Etinde farm-out agreement,' said Eli Chahin, Bowleven CEO.

Confirmation of Special Dividend Payment
Bowleven, the Africa focussed oil and gas company traded on AIM, is pleased to confirm the payment today of the special dividend of approximately £50 million, or 15 pence per ordinary share.

As previously announced, the upcoming Etinde work programme and budget has now been agreed amongst the upstream joint venture partners for 2019. The detailed effort will contribute towards the interpretation of the data and the development options for the block with a view to its commercialisation.

The dividend has today been paid to those shareholders on the register on 18th January 2019.