Bowleven; paying a heavy price for the “Hart Discount”

Comments

1. ---

   elrico

   17 March 2015, 06:12

   Ben,

   You seemed quite bullish in you article “Last chance to buy Bowleven” dated 12/3/15, with no whiff of negative sentiment towards Hart, yet, today you appear more balanced in your assessment. Should this not have formed part of the report on the 12?

   Bull case & bear case would be nice, if only for the lazy reader.

2. ---

   Ben Turney

   17 March 2015, 06:19

   @Elrico – please accept this comment in good humour, but you talk about the “lazy reader”… well…. errrr….. I didn’t write that piece. Gary Newman did!!!! :-)

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   DUCK AND DIVE

   17 March 2015, 06:56

   Ben, you may be right about the “Hart effect” (I don’t know the man and haven’t checked his history) but, for me, BLVN now joins a very small club of cash-rich AIM oilers that I could be tempted to invest in if I fancied a punt on the future POO. Others include HAWK and, from today, LGO since it has finally banked the big bucks which have too often failed to materialise during DL’s tenure.

   An 8% rise so far for BLVN doesn’t look unreasonable and could just be the beginning of a re-rating.

4. ---

   Ben Turney

   17 March 2015, 07:05

   @Duck & Dive — I’d be surprised if it were the beginning of a sizeable rerate. You make a good point about the strength of the cash position, but the fact that trading in this stock has been so subdued in the run up to completion of this deal tells me the market has no confidence in management to do anything worthwhile with its windfall. Personally I am still steering clear of all things oil. I don’t think a recovery is around the corner and we will have to wait until well into H2 this year, if not the start of next.

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   Striebs

   17 March 2015, 07:41

   Bowleven is perhaps the ultimate director lifestyle company .

   Even if the business case was compelling , this company is absolutely uninvestable because the element of trust is missing .

   Nobody in their right mind would be daft enough to believe the Edinburgh mafia have any intention of sharing any success with outsiders .

6. ---

   Ben Turney

   17 March 2015, 10:26

   @striebs – a little harsh, I think

   @Dave Jay – that is a very angry response and, as ever with that sort of furious reply, you have failed completely to contend with my main point. Are you saying that you don’t believe the “Hart Discount” exists?

   There probably should be a rise here, but I would suggest that any rise will be tempered by a great deal of market scepticism, so long as Hart remains in charge. You accuse me of poor research, but I’ve been commenting on this stock, here and elsewhere, for two years. You are a “recent holder” who claims to have done his research, but seems to know little about the history of disappointments. If you think those have no bearing on the future of the company, then good luck to you.

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   alcira16247

   17 March 2015, 13:29

   Ben

   As regular readers of ShareProphets have come to expect, from you, an article of well researched balanced analysis.

   Today’s modest rise is added testament to the markets scepticism that the CEO and Bowleven board have the necessary skill set to put together a deal that’s going to light any fires.

   Given the undoubted opportunities of accruing good profitable assets from cash strapped distressed sellers a company with Bowleven’s resources ought to be a market darling and BBM sweetheart!

   The fact that it isn’t, proves the validity of your argument, Ben!

   Now, Mr Hart steps down and The Brokerman Dan takes over, a la mode Sefton…….. I give you a doubling of Bowleven’s capitalisation in a day, such is the value of reputation and investors confidence!

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   I Swear

   17 March 2015, 16:14

   I challenge you with PVR and the curse of the O’Reillys’ 700p to 25p in under three years and just about to double the number of shares in issue with a placing, Jnr O’Reilly is ok though on 500k a year salary and didn’t buy any shares in all that time !

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   wildrides

   17 March 2015, 16:36

   Dave ( nice feathers )

   I would sell it if I were you . You are already emotionally involved, and with a stock you have not owned very long . Think how angry your gonna get when you have been in a few years . Never a good idea to let emotions intervene in stock investments . Chill ;-) or you will have a coronary .

10. ---

    Ben Turney

    18 March 2015, 02:30

    @alcira – thank you. IT would be a brilliant twist to see BMD take over at BLVN :-)

    @I Swear – yes, on reflection you are right about PVR. I was too kind about the remuneration there, given the lack of progress. Won’t make that mistake again

    @wildrides – spot on! Some people get so agitated buying these stocks they really should find something else more harmonious to spend their time on

11. ---

    Ben Turney

    18 March 2015, 07:13

    @Dave – chuckle, since you are practising your reading, perhaps you might revisit my piece above. I am quite clear. There looks like limited downside in BLVN. My point is the upside looks tempered while Hart is in charge.

    Thanks for reminding me about MTR. I want to do another write up on it. That one is going to be a cracker when the mining sector turns.

    Just Eat I should cover again after this weeks results

    PPC after the last placement I wonder how much will be left for shareholders if the project meets expectations.

    GKP – you got me!