Bowleven has announced its interim results for the six months to 31 December 2018. The accompanying statement reveals that the Company retains over US$15 million in cash and financial investments. This should be more than sufficient to fund Bowleven through to a final investment decision on the Etinde permit offshore Cameroon, when it is due to receive an additional US$25 million from its partners. In the meantime, we maintain our Buy rating and 32p/share price target.
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29 Mar 2019
Etinde on track
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Etinde on track
Bowleven plc (BLVN:LON) | 0.2 0 0.0% | Mkt Cap: 4.24m
- Published:
29 Mar 2019 -
Author:
Richard Slape -
Pages:
2 -
Bowleven has announced its interim results for the six months to 31 December 2018. The accompanying statement reveals that the Company retains over US$15 million in cash and financial investments. This should be more than sufficient to fund Bowleven through to a final investment decision on the Etinde permit offshore Cameroon, when it is due to receive an additional US$25 million from its partners. In the meantime, we maintain our Buy rating and 32p/share price target.