Up 10% today any interest.

Its a sell RF.

Way over priced now.

Bowleven announces the completion of the placing announced earlier today (the "Placing"). A total of 22,000,000 new ordinary shares (the "Placing Shares") have been placed at a price of 327 pence per Placing Share (the "Placing Price"). Based on the Placing Price, the gross proceeds of the Placing will be GBP72 million (approx. US$113 million). The Placing Shares being issued represent an increase of approximately 11 per cent. in Bowleven's existing issued ordinary share capital.

cyril

Just a few hours to raise 22m,take me longer to borrow 22,lol
cyril

Topped up this am,news could be on us 2 weeks?
cyril

Mentioned in yesterdays telegraph.
I'm hoping for news next week?
cyril

"....Named as one of BofA Merrill Lynch's preferred picks, Tullow put on 19p to 1,197p. Also benefiting from being picked as M&A contenders by the broker were Premier Oil, which made 33p to 1,915p, and BowLeven, gaining 8.5p to 357p, with their "unique sets of assets", in the North Sea and Cameroon respectively."

Summary of yesterdays AGM,looks like we wait another fortnight?
cyril

Bowleven promises active drilling campaign off West Africa coast
Mark Williamson

Share 16 Dec 2010

Bowleven is set for an exciting year in 2011 when the West Africa-focused oil and gas company hopes to maintain the good progress it made during 2010, investors were told.

Bowlevens chief executive, Kevin Hart, told the companys general meeting that it is well funded to continue with an active drilling campaign off Cameroon. Directors expect this will deliver big results.

Edinburgh-based Bowleven will continue appraisal work on the IE and IF finds on block seven off Cameroon in the hope of confirming that these discoveries are on a commercial scale.

If drilling goes well, Mr Hart believes Bowleven may be able to book reserves in respect of these finds in 2012.

Before reserves can be booked companies must establish that a find is big enough to be commercially viable, develop a plan to bring it into production and establish that the necessary work can be financed.

Bowleven will continue drilling the under-explored Douala basin, where it has made three finds in recent weeks with the Sapele well. The company expects to announce the final results by the end of 2010.

The strategy for this year and next is to really try to prove up the resource base on block seven and to get after the Douala basin, said Mr Hart.

He added that having won backing from Vitol the Swiss oil trader and raised $113m (72m) from investors through a placing that was completed last month, Bowleven has plenty of cash to fund an active work programme.

Terry Heneaghan, a former chief executive of Bowleven, told delegates at the meeting: I want to compliment Kevin and his team.

I think the work they have done is absolutely first class.

He said Mr Harts team seemed to have found the key to the complex geology of the region.

All resolutions at the AGM passed comfortably.

Have got small holding since 295p so am quite happy to continue to hold and hopr for more profit.,.

Look at them go today,381p,c;osed my t trade at 375p for a very handsome profit.
With news imminent,perhaps someone knows u know?
cyril

another good day here as you say cyril.,.

BB yes still got my long term positions,so although i sold early,very happy with this company. AGQ is also doing me pround with a large position in my ISA,making it a real bonus.
cyril

Nice chart.

Has all the signs of a leak,won'tmind though as if so, then it's positive?
cyril

http://thesharehub.com//?p=360

Thanks for that cyril.

Broken through 4 barrier.....onwards and up wards.,.

Can it break through and hold 4 today???

Well done everyone.

My 2nd success of the day,along with AAZ.

unfortunately short lived 4+ back to normal now.

Baeclays top tip for 2011.

Barclays note:

Bowleven for 11
In a sector based on the search for hitherto undiscovered value, with just 13% risked
upside potential, the sector appears to be starting the year on tight valuations. We
therefore re-iterate our 2-Neutral sector stance. In this context, we believe that
better value can be found in those companies where existing exploration has opened
a new door to underexplored areas, offering material upside, with the bonus of
further de-risked exploration. Hence, following its recent discovery in Cameroon,
Bowleven (1-OW, PT 500p) becomes our top pick for 2011, as we believe its new
Miocene play could provide a sweet exploration surprise. Afren (1-OW, PT 185p),
Tullow (1-OW, PT 15.75) and Premier (1-OW, PT 23.00) are our other key ideas
for the year.
Oil price to support valuations: Our macro outlook is positive; our oil price forecast for
this year is $90/bl, increasing to $100/bl in 2012. To this we see upside risk, which
could further underpin sector performance, in particular for those companies with
existing production.
Corporate activity to be less: M&A in 2011 is likely to be a recurring theme, but with
tightening valuations it may not provide the same tailwind as in 2010. However, a
sector catalyst is likely to be Cairns H1 11 potential redistribution, when c.$3bn of cash
could be looking for a new home within the sector.
Bowleven our top pick: Until recently, Bowleven had been confined to the realm of
sector specialists, but after its recent discovery offshore Cameroon, we believe it is now
ready for the wider generalist investor community looking for exploration-driven alpha
opportunities. Following the 2010 discovery, we think the company has opened up a
new play fairway, where similar exploration success could potentially be repeated. In
our view, its 2010 performance, up 191% in H2 10, should not be considered a
deterrent. As is often the case for E&P companies, the full value of a new geological play
takes time to be revealed. With potential upside on our estimates of 28% vs. a sector
average of 13%, Bowleven offers the highest upside in our E&P sector.
Afren, Tullow and Premier all 1-OW stocks: 2011 looks set to be a transformational
year for Afren (PT 185p), with the first oil in its Ebok field and with likely upward
revision of its reserves, exploration in West Africa (Ghana, Nigeria) and in East Africa
(Kenya), and possible new acquisitions in Nigeria. Tullow (PT 15.75) has finally
commenced its high-impact exploration programme, with 10 wells planned in West
Africa and Latin America, coupled with an ongoing appraisal campaign. We also expect
to see the resolution of its tax dispute in Uganda. Premier (PT 23), in the short term,
has a busy exploration schedule and we expect more positive newsflow from its
Catcher follow-on drilling programme.