Sense has returned at last to Bowleven (BLVN), up 5% with good volume after the days of big falls from the 400p zone. An RNS just before 9 confirmed the main reason for this fall. Major shareholder, JP Morgan, have been selling shares over the last 6 weeks. They now own just below 10% of the company, down 1% of so. Will be interesting to see if this is it or whether their stake continues to go down. The market seems to think the seller is out of the anyway.
I guess that Heritage Oil's gas, rather than oil find, in Iraq and subsequent 30% drop also knocked confidence in the small cap oil/gas sector. We know that Bowleven has oil and plenty of it. This is no Heritage.
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