2014 has been a very challenging year for oil and gas exploration company BowLeven (LSE: BLVN). Indeed, the falling price of oil and another year of losses have contributed to a weak share price that is down 9% today and 23% lower since the start of 2014.
Africa-focused oil & gas explorer BowLeven (LSE: BLVN) made a game-changing announcement last week. The company revealed that it had sold down its stake in a project off the coast of Cameroon, the offshore Etinde block.
... * Please note that there can be occasions when the Selling price shown may be temporarily higher than the Buying price. This can sometimes happen when the stock market is closed but it can also happen at other times for a variety of reasons ...
oil rig BowLeven (LSE: BLVN) announced this morning that the Cameroon government had granted approval for the firm to assign 50% of its interest in the Etinde Permit to partners Lukoil and NewAge, in a deal worth $250m to the AIM-listed firm.
So what: Shares of Africa-focused oil and gas explorer Bowleven (LSE: BLVN) spiked by 12% to 45p during early trade this morning on the decision to sell-down its stake in a project off the coast of Cameroon.
What: Shares of BowLeven (LSE: BLVN), the Africa focused oil and gas explorer, soared by just under 12% during early trade this morning after announcing the Cameroon government has backed the its Etinde Exploitation Authorisation Application (EEAA).
Receive News & Ratings for BowLeven PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BowLeven PLC and related companies with Analyst Ratings Network's FREE daily email ...