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?

We are getting ... STAKERS ... BOYs the lot, some of them can not even sleep at night cos someone told them the truth.

But have you noticed, they are not talking about BLVN, but if they have clean up their backside or not leaving from the sit down place.

Ugh!........... You don't half talk some cr*p mj.

I'm talking about blvn....... .13 of a penny ain't much of a breakout.,.

HARRY, the CAT just have done some "cr*p " behind the curtain

you better HURRY

I can smell it from here
----------------

Share price holding above the closing price yesterday, still volatile as some still selling as most are now buying in the order book

BUT, 9% on AFR and CLIG is worth looking at.,.

BB - i'm afraid the pedagogue gets very abusive indeed if you dare do other than bow and scrape to him

Dictionary time again.,.

more of a Dullard than teacher me thinks.,.

P!SSING over those that have nothing to do but BLA BLA BLA is a plesure.

As I said before is good to learn, cos over here 99& have no idea of anything on the share business, maybe is for that reason they talk about anything else.

They forgot that there is another thread for that .... talk nonsence
http://www.moneyam.com/InvestorsRoom/posts.php?page=1031&tid=8123

note: Good point — we need to be careful who we share tips with.

in that case MJ, perhaps you'ld like to restrict your personal and offensive abuse to that thread instead of cluttering up threads about stocks and shares

by the way, you might like to consider taking a course in English and its grammar and spelling

Live is sweet when one see the share price is on my side 66.25p +1p

finishing as I said with a HAMMER Candlestick bullish as is the signal of retracement done.

       

HAMMER

Definition:

The Bullish Hammer Pattern is a significant candlestick that occurs at the bottom of a trend or during a downtrend and it is called a hammer since it is hammering out a bottom.
The Bullish Hammer Pattern is a single candlestick pattern and it has a strong similarity to the Bullish Dragonfly Doji Pattern. The Bullish Hammer Pattern has a small real body at the upper end of the trading range.

Recognition Criteria:

1. The market is characterized by a prevailing downtrend.
2. Then we see a small real body at the upper end of the trading range. Color of this body is not important.
3. We would like to see the lower shadow at least twice as long as the real body.
4. There is no (or almost no) upper shadow.

can't say i care whether it's a hammer or a sickle or even a cycle, especially as i have no particular interest in these ...... however, you do not seem to be waxing quite so lyrical about either BAO or even LAM

As a core holding I'd expected this to be £1+ before Xmas, especially on the back of the Petrofac alliance, but alas got to 90p and once again fell back quite heavily. Probably caused by the delay to the Etinde appraisal drill, which was supposed to be at TD before Xmas but still no further news. hopefully a successful drill will reinvigorate the SP. BLVN are a bit like AFR and XEL, potentially so under-valued at this low level. And I should say to the serial abuser that is magicpants, BLVN have a considerable quantity of black gold, unlike CHAR which last time I looked has none at all.

Just SHUT up LOSER, STOKER and calling youself LIAR

what are you doing here then...

spoiling sports as usual, wasting other posters reading.

get it - you can not say you sold at a large profit if earlier had plenty of post without saying you bought it. ( mainly saying you were negative at much lower prices )

chuckles

not everybody buys on the financial position of the company, but the ones with knowlegde buy on charting.

If BLVN get both like today then much better.

I can see you have as so many over here much to learn about shares movements, otherwise BLVN would be 150p on your accounts, but
for reasons plenty ( manupilating the order book, selling short, etc. specially if a bidder wants to buy stock on the cheap, as it seems had happen 2 weeks ago.

The clue is on the pudding and only me said the retracement was on today, whatever you want to say is - soar grapes for CHAR as above.

enough for today

oh dear oh dear oh dear ...... the pedagogue really has got himself in a right old tizzy ..... it really is very girlie and pathetic .... and of course taking up so much space on a stock thread when he should be confining his abuse elsewhere - as he was so keen to point out to BB

RNS good news?

StockMarketWire.com
Oil explorer Bowleven (LON:BLVN) has announced a potential discovery from its IM-5 well in Cameroon.

Based on logging while drilling (LWD), the well has intersected a gross reservoir interval of approximately 80 metres which corresponds to the seismic event identified pre-drill. A preliminary analysis of provisional net pay is estimated to be between 52 and 56 metres, indicating a net to gross of approximately 70%.

Based on preliminary analysis of this data, reservoir quality is believed to be good. Initial indications including data collected from the GC tracer suggests the presence of liquids rich hydrocarbons, although further evaluation is required. Further logging (including the acquisition of MDT data) and testing is required to confirm reservoir quality and hydrocarbon content and type.

The IM-5 appraisal/development well, located approximately one kilometre south of the IM-3 well location, has an estimated target depth of 3,475 metres and is drilling in water depths of around 56 metres. The primary objective of this well is to appraise the reservoir and fluid properties of the Middle Isongo sands. The secondary objective of the well is to investigate the additional potential of the Intra Isongo exploration prospect, a potentially extensive amplitude supported channel system potentially comprising both structural and stratigraphic trapping elements. The well was also designed to intersect the Upper Isongo sands and confirm that these are present at this location and water-bearing as prognosed. Following a variety of operational delays of a mechanical nature, the well has now reached a depth of 3,330 metres MD and is currently situated just beneath the top of the principal Middle Isongo target. The forward plan is to core the Middle Isongo reservoir then drill on to TD before carrying out further logging and flow testing as appropriate.

Kevin Hart, Chief Executive said: "We are highly encouraged with the results so far on the IM-5 well which to date has confirmed our pre-drill seismic interpretation. The potentially significant hydrocarbon discovery in the Intra Isongo demonstrates the substantial upside that we believe exists on Etinde. Bowleven is focused on delivering the key requirements that will enable the final investment decision for the Etinde development. Consequently IM-5 drilling operations will continue with the planned appraisal of the Middle Isongo interval and, subject to the results, the potential testing of both the Intra and Middle Isongo reservoir formations."

This is a very encouraging update... could be a real potential like what it did to Tullow.

Smell the coffee or is OIL