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Bowleven – Interim Results Show It Is Placing Ahoy, more egg on face at Somerville Towers

By Nigel Somerville | Thursday 30 March 2023

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), with a part-holding in the Etinde gas project in Cameroon, has released its interim results to December 2022. This was, of course, a tip from me and initially did very well and I took some profits to leave my remaining holding essentially for free. What I should have done was to sell the whole lot and this morning’s numbers show clearly that the company now needs to raise additional funds to keep the lights on as it awaits a final investment decision (FID) on Etinde – a decision which has taken an age to materialise.
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Rumours of two placings FWIW