Greetings Stockopedes,
I am working on an article discussing the investment case for Bowleven. It will take me some time to complete the article but hope to do so before the end of this week. However, there is a time-critical matter that I need to draw to readers' attention to first.
Per Bowleven's recent RNS, a teleconference replay is now available but only until Friday 11th Feb relating to the Sapele-1 well results. IMO the teleconference includes important detail not included in the RNS and is well worth a listen (around half-an-hour). Also IMO the market has incorrectly interpreted the RNS as implying that gas only may have been discovered in the Cretaceous interval constituting one of the well's targets (signficant oil has already been discovered in a shallower Tertiary interval in the same well). Moreover the teleconference and Q&A also clarifies forward drilling plans. Some of the technical info (which can be partially be inferred from the RNS) may be of interest to SW10, as it's been an "interesting" well! [the well had to be killed by dumping a load of cement down it, as it approached TD of around 15,500', according to the teleconference].
I will include my own notes from the telecon in the article but interested readers are advised to listen for themselves, as I may have missed or misinterpreted something. Slides from a presentation at Credit Suisse's Energy Summit, delivered this week are also available here and form a useful introduction/background before listening to the Telecon. Teleconference access details are as follows:
UK participants: +44 (0)20 7111 1244
US participants: +1 347 366 9565
Passcode: 6418158#
IMO the decline in Bowleven's SP since the latest RNS presents a buying opportunity, that I have taken advantage of today to top up my existing holding.
Regards,
Mark
