Bowleven looking perky again today

All sorts of rumours surrounding Bowleven’s recent strength, we think that it is largely catching up with the sector. However, volume invariably always tells a tale and as we can see in the chart below, there has been very heavy volume in recent weeks – perhaps someone is building a stake after all? In any event, we think the stock undervalued by around 100p and it is a component stock in our Dream Oil Explorers portfolio.

The results of the IM-5 well, offshore Cameroon are due this month and so, as ever in the leaky ship that is London, could there have been early leakage of results..?

If you’d like to learn more about our views on Bowleven then click the link below for our views and target.