Bowleven (BLVN)

Business description

Bowleven is an AIM-listed, Africa-focused E&P with assets in Cameroon. Its main asset is its 20% net interest in the Etinde development, which holds 290mmboe of 2C contingent resource.

Stock data

Market cap.£94.4m
Last close29.00p
High / Low (52 weeks)36.5p / 23.5p
Stock market listingLN
Forecast net cash (US$m)85.4
Forecast gearing ratio (%)N/A
TeamResources - Oil & Gas
SectorOil & Gas

Price performance

%1m3m12m
Actual(1.7)10.511.5
Relative *(0.7)12.14.8

* % Relative to local index

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Company news

Bowleven plc (BLVN)

Mon, 16 May 2011 11:54:00 GMT

Most of Bowleven board ousted as investors back call for change

Wed, 15 Mar 2017 09:11:15 GMT

Bowleven war of words continues

Mon, 27 Mar 2017 13:53:40 GMT

BowLeven's chairman Billy Allan walks the plank

Thu, 30 Mar 2017 10:33:06 GMT

Barclays downgrades Bowleven after activist-led boardroom cull

Thu, 16 Mar 2017 08:31:10 GMT

Y/E Jun Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2015A 0.0 (9.5) (90.0) (0.3) N/A N/A
2016A 0.0 (7.1) (129.3) (0.4) N/A N/A
2017E 0.0 (10.8) (4.1) 0.0 N/A N/A
2018E 0.0 (1.9) (4.1) 0.0 N/A N/A

Last updated on 25/08/2017

Latest research

Investment summary

Bowleven's board has seen a period of change with its chairman, CEO and CFO all leaving after the General Meeting. The strategic review process has been terminated and the company continues to focus on maximising value for shareholders, including rationalisation of its cost base and "the preservation and enhancement of its existing assets". The company expects monthly cash burn to fall from $0.6m to $0.35m. On an operational level, the farm-down of Bomono is progressing and the company is meeting with the SNH to discuss outstanding approvals to allow the gas to flow through VOG pipelines. The Etinde joint venture partners continue to work on finding an agreeable development solution for all stakeholders. Once the development concept has been agreed and costed, the company will make a determination on a possible cash return to shareholders.

Last updated on 06/09/2017

Key management

Eli Chahin, Chief Executive Officer

Company address

The Cube
45 Leith Street
Edinburgh
EH1 3AT
United Kingdom
0131 524 5678
View website