BOW (Bow Energy)

[tommy]

I got freebie Bow Energy (BOW) shares as a result of holding Arrow Energy previously (I no longer hold AOE).

Bow's website:
http://www.bowenergy.com.au/

BOW's official quotation starts 20 May, its basically a company with selected conventional oil and gas interests held by Arrow Energy.

The problem is that I have absolutely no idea about this spin off! Read the prospectus http://www.bowenergy.com.au/pdf/prospectus.pdf
but I'm no geo expert so it's all greek to me....

Does anyone here have freebie BOW shares, or has anyone purchased BOW shares for IPO?

Is this gonna be another dud IPO that's better if the shares are sold off straight away, or are they worth "shoving under the carpet"?

Your views will be highly appreciated!!

[Revhead]

I made a point of holding AOE on the entitlement day for BOW, just so I could get the BOW and BOWO options. I no longer hold aoe either.

They trade Friday, and as to how they pan out, have to wait and see... But nothing paid so not bothered too much either way.

cheers
Rev

[ASXIOU]

I also bought AOE just to get the free BOW shares and options. Made a tidy profit out of AOE aswell if I remember right. Quite shocked to see AOE actually went up on the day it went ex-BOW. Anyway I'm not expecting much to happen on Friday as there are so many AOE or ex AOE holders who will want to offload their BOW holdings but I think I will just hold and forget as they didn't cost anything and who knows what might happen down the line.

[Gofish.]

I've also got some BOW, but still also got my AOE.
(nice AOE ann this week re increased reserves)

Think BOW is one to hold until drilling is underway, and since they were "freebies" I may even take the punt on a hit.

[Gofish.]

From "NQBill" on SS
pickabooba !!!

"This arrived today:

Dear Arrow Shareholder,

Just a quick reminder that the spin off from Arrow, Bow Energy (BOW) is expected to list tomorrow at 10.30am.

See below for a comments by Peter Strachan:

Solid value below 25c for Bow Energy on listing ..
Peter Strachan in “StockAnalysis” cover dated May 18 says success at any one of Bow Energy’s first 3 wells in the Surat Basin has the potential to justify a 20c share price on its own. Saying he sees “solid value below 25 c on listing next Friday (May 20) for this fledgling explorer”. Adding that market conditions may well militate against a stellar debut for Bow, so that subscribers may well have the opportunity to pick up a bargain if the stock falls below issue price during May ahead of drilling at Pickabooba in June.


Kind Regards
Nick Gold
Cygnet Capital"

[ASXIOU]

smacked down as expected. Opened at 13c!!

[tommy]

Hi all BOW & BOWO holders,

Looks like it was a dud IPO... I think I'm gonna shove this one under the draw and come back in ten years time, like you guys said it was free so got nothing to lose by holding on to it!

[tommy]

http://www.smh.com.au/news/Business/...533529550.html
________________

Bow Energy debut disappoints
May 20, 2005 - 4:34PM

Managing director of oil and gas explorer Bow Energy Ltd Ron Prefontaine said the company remained confident of its potential despite being savaged in its Australian Stock Exchange debut.

Bow Energy opened at 13 cents, seven cents below its 20 cent issue price.

It closed at the same price - a 35 per cent discount - after 3.6 million shares changed hands.

The company, which was spun out of listed coal seam gas producer Arrow Energy NL, offered 30 million shares to raise $6 million.

Mr Prefontaine said he suspected Arrow Energy shareholders may have cashed in their share distribution on listing, forcing the price down.

"That's the way things go ... but we're very comfortable with our assets," he said.

"I have to mention the directors probably bought a million shares today and we see absolute value in the company."

The money raised in the listing will fund at least 10 exploration wells.

The company's tenements cover 38,000 square kilometres of proven petroleum producing basins including the Carnarvon Basin in Western Australia, the Cooper-Eromanga and the Surat-Bowen basins in Queensland.
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The first gas well in June will be at Pickabooba South-1 in Bow Energy's frontier region in the Clarence-Moreton Basin.

In the September quarter Bow Energy will drill Gats-1 and Hestia-1 in the Carnarvon Basin and additional drilling in the Cooper-Eromanga and Surat-Bowen basins was planned for late 2005 and next year.

[ASXIOU]

quote:Originally posted by tommy
"I have to mention the directors probably bought a million shares today and we see absolute value in the company."

Interesting statement. Expect possible retracement upwards next week when this news is disclosed.

[kura]

I purchased some Friday (also had freebies ex AOE) Will hold till drilling starts in June, then have another think about it.

Current market not the time to sell (if your thinking about it)