BLVN

dl.dropboxusercontent.com/u/7238706/BOWLEVEN.png

I'm totally unsure on this one but, if I had to make a decision I would say it hasn't quite bottomed out; which is probably the kiss of death for the bears and all the bulls wanted to hear
56.75 looks like a good target

Petrofac Integrated Energy Services Data Pack Presentation (taken from BLVN bb)

www.petrofac.com/index.asp?pageid=463

The presentation references and includes the Bowleven Etinde permit development as a 'Key IES project' alongside other established projects. Clearly Petrofac are serious about committing to the partnership alliance with Bowleven to continue referencing the Bowleven Etinde development in company reporting and presentations. Interesting to compare the detail on the commercials and revenue guidance on the other IES projects.

Key sentence from the presentation: "FID on the Etinde permit development in Cameroon not expected until later in 2013"

The alliance is happening and the Petrofac financing alongside a farm-in partner will transform Bowleven and it's resources to reserves
ta
G

Blvn now testing trendline support and RSI support at ~60p. Is this finally a run on 56.50?

I have taken a wider view of Blvn this time to illustrate the origin of current support that is being tested and the falling wedge.

uk.advfn.com/p.php?pid=chartscreenshotsh...NklbNUp4PLe3G%2FU%3D

RSI support broken yesterday and if confirmed by price action the trendline break brings the falling wedge into play and a bottom of 56.50 support (magenta). If we get to 56.50 this may lead to a breakout north of wedge resistance and a double bottom, which would likely be material. One to monitor in the coming week or so really.

Low of 57p yesterday, so not quite to 56.50 and nice bounce today. Could spell double bottom. Pretty much as planned ;o)

Good opportunity for a quick buck here this morning. Bullish divergences on the hourly after a quick fall to a historical support of 56.50

uk.advfn.com/p.php?pid=chartscreenshotsh...I%3D&symbol=L%5EBARC