Trades and observations from a British contrarian stock investor

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Monday, February 7, 2011

Bowleven Sapele 1 news leads to volatile day but future looks promising

Bowleven (BLVN) shares had a rough ride first thing this morning, dropping 15p at the open and moving as much as 15p higher in the early afternoon before closing up 4p at the close. Several positive broker reports weren't enough to give any degree of positive momentum.

The presentation due to be given at the Credit Suisse Energy Summit (Vail, Colorado) has been posted on the Bowleven website which gives some insights to what was discussed at the analyst conference call this afternoon. The link for the presentation is: http://www.bowleven.com/uploads/Credit%20Suisse%20Energy%20Summit%20Vail%20Feb%202011%20PPT%20FINAL.pdf

There looks to be a packed schedule of activity during the coming months:

In Quarter 1 2011
A sidetrack will be drilled into the Tertiary at Sapele-1
New Tertiary exploration well MLHP-5 using the additional rig Vantage Sapphire driller which will be available from February 2011
Q3-Q4 2011
Additional Tertiary wells and a Cretaceous well at MLHP-5
MHLP-7 Appraisal well
Posted by Contrarian Investor UK at 7:34 PM
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