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?

Its not just Kevin Hart thats thrilled,so am i !!!!!.

"BowLeven Plc (BLVN LN) climbed 8 pence, or 3.5 percent, to 234. Shares of the explorer for oil and gas in Africa were recommended as ``buy'' in new coverage at ABN Amro Holdings NV. ``We believe BowLeven represents a balanced play on West Africa at an attractive valuation,'' the bank wrote in a research note"

Breakout

more than 20 million tades already...........whats up?

Suntera Resources placed their entire holding of nearly 10m shares @ 215p per share.
2517

Suntera paid 245p for some of their stake, 11m investment in June 06 for 4.4m shares. how much they paid for the remainder I don't know.

Getting a little cheesed off with this co. Had three goes at breaking out of 240 level without success. I guess 300p was too optimistic a target. MMs managed to get it right back to 170 in last shake out so not sure what comes next.....

bonfield,
looks like we got the 300p,lets hope it sticks,lots of buying,news must be on its way.

300pence+ now,
This is on the up now,al the recent intitutional buying a plus.

This is motoring on very well now,400p ?,
Anyone else still holding?

Still holding and hoping for 400+. Need over 500 to breakeven
Originally aquired my holding via my original investment in First Africa. Not holding too many shares but still a long way off the original investment cost. Will hang on for the long haul.

2 year high today, 400p this week ?

Watching and waiting to buy in i think it will fall further under the pound mark.

FoxDavies views from the trading floor - Bowleven
Tuesday, January 17, 2012

Bowleven once the darling of the sector, jumped 7% in trading to 84.5p on 3 times the average daily volume as retail investors continued to speculate that a drilling update was due. Recent press speculation has continued to put Bowleven in the frame for a potential takeover. Nothing concrete has materialised from the speculation as of yet, but we are firm believers of 'there is no smoke without fire' We will be monitoring the movements of this one very closely.

Dragon Oil pondering offer for Bowleven
StockMarketWire.com
Turkmenistan-based oil firm Dragon Oil (LON:DGO) notes the recent movement in Bowleven's (LON:BLVN) share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven.

At 11:49am:
(LON:BLVN) BowLeven share price was +35.88p at 109.88p
(LON:DGO) Dragon Oil share price was -12.25p at 531.75p

Dragon Oil plc. ("Dragon Oil")

17 February 2012

Possible offer for Bowleven Plc ("Bowleven")

Dragon Oil notes the recent movement in Bowleven's share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven.

This announcement does not constitute an announcement of a firm intention to make an offer under Rule 2.7 of the City Code on Takeovers and Mergers (the "Code"). Accordingly, Dragon Oil would like to emphasise that there can be no certainty that any offer will ultimately be made or the terms or timing on which any such offer would be made.

In accordance with Rule 2.6(a) of the Code, Dragon Oil is now required, by not later than 5.00 p.m. on 16 March 2012, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.

Reuters
LONDON, Feb 17 (Reuters) - Oil firm Dragon Oil (Xetra: 877789 - news) said it was considering making a takeover offer for Bowleven (LSE: BLVN.L - news) , a British company with assets in Cameroon, in a move which would form part of a long-stated plan to expand beyond its Turkmenistan production base.

"Dragon Oil notes the recent movement in Bowleven's share price and confirms that it is in the preliminary stages of exploring a possible offer for all of the issued and to be issued share capital of Bowleven," Dragon said in a statement on Friday.

Shares in Bowleven soared 65 percent to 122 pence at 1150 GMT, on news that Dragon was considering an approach, exceeding earlier gains of around 18 percent on takeover rumours before Dragon announced its interest.

Dubai-headquartered Dragon has expressed its intention over the last year to expand its reach beyond Turkmenistan, where 100 percent of its production is based.

Analysts at Bank of America Merrill Lynch said on Wednesday that the company would look to use its $1.4 billion cash pile to make acquisitions while management have indicated that they would look at deals in the range of $200 to $500 million.

At 122 pence per share Bowleven, which has discovered an oil field off the coast of Cameroon, has a market capitalisation of 359 million pounds. (Reporting by Sarah Young; editing by Rhys Jones)

Pretty obvious that DGO reckon that a very large oil accumulation lies in that Sakele well and all over that area....

Dragon Oil mulls Bowleven takeover 12:21 pm by Jamie Ashcroft Dragon is currently a single asset company. It produces over 70,000 barrels of oil a day from the Cheleken production sharing contract in the Caspian Sea. Africa focused oil firm Bowleven (LON:BLVN) soared over 80 per cent today as Dragon Oil (LON:DGO) confirmed it was mulling a bid for the company. Cash-rich Dragon has been on the acquisition trail for some time, however up until now it has kept its cards close to its chest and no major deals have been struck. In a brief stock exchange statement Dragon confirmed it was in the preliminary stages of exploring a possible offer for Bowleven. Dragon is currently a single asset company. It produces over 70,000 barrels of oil a day from the Cheleken production sharing contract in the Caspian Sea. A major expansion programme aims to grow production beyond the 100,000 barrel a day mark by 2015. This production gives the group strong cash flow and puts it in a strong position when it comes to jostling for M&A targets. Its current balance sheet is very strong with around US$1.5 billion cash in hand. Bowleven owns a portfolio of exploration assets in Cameroon and Gabon. At 12:20, Bowleven shares were up 59p, or 80 per cent, trading at 133.5p each. Dragon shares were relatively unmoved by the news

Undervalues the assets imo.