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Bowleven – drilling news, Waseem Shakoor frustrated (me too!)

By Nigel Somerville | Thursday 18 October 2018


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


AIM-listed Bowleven (BLVN) has announced a drilling update from Etinde this morning and oh dear, the second drill, IE-4, of the two-well programme seems not to have had a nice tasty big strike. But there is some good news in there and although one could have a slightly cynical read of the text (ala UK Oil & Gas, UKOG) I don’t perceive any need for Bowleven to ramp its shares: it has piles of cash, don’t forget.

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