BowLeven Plc Testing Update - Bomono Permit, Cameroon (3783F)
12 November 2015 - 12:11AM
UK Regulatory
TIDMBLVN
RNS Number : 3783F
BowLeven Plc
11 November 2015
11 November 2015
Bowleven plc ('Bowleven' or 'the Company')
Testing Update - Bomono Permit, Cameroon
Bowleven, the Africa focused oil and gas exploration group
traded on AIM, is pleased to announce that following the
installation of testing equipment, the Moambe well has now
commenced flowing hydrocarbons.
The extended well testing programme at Moambe is planned to
determine the productivity and connectivity of the shallower
reservoir units. It is intended that these reservoir units will
provide the basis for the initial supply of gas for power
generation under a development scheme formulated with Actis and
Eneo in Cameroon.
Further update announcements will be made in due course, as
appropriate.
ENQUIRIES
For further information please contact:
Bowleven plc
Kevin Hart, Chief Executive 00 44 131 524 5678
Kerry Crawford, Finance Director
Brunswick Group LLP
Patrick Handley 00 44 207 404 5959
Simon Maine
Macquarie Capital (Europe) Limited (Nomad)
Jon Fitzpatrick 00 44 203 037 2000
Ken Fleming
Nick Stamp
Notes to Editors:
Bowleven is an African focused oil and gas exploration group,
based in Edinburgh and traded on AIM. Bowleven's strategy is
focused on creating and realising material value through
exploration led organic growth. Bowleven holds equity interests in
two Permits in Cameroon, with one located offshore in shallow water
(operated by NewAge) and the other onshore (operated by
Bowleven).
Bowleven also holds an equity interest in an onshore block in
Kenya, operated by Adamantine Energy, and has been awarded three
blocks in Zambia, with applications on two blocks pending.
Notes to Announcement:
(1) The technical information in this release has been reviewed
by Ed Willett and David Clarkson, both qualified persons for the
purposes of the AIM Guidance Note for Mining, Oil and Gas
Companies. Ed Willett, Exploration Director of Bowleven plc, is a
geologist and geophysicist, a Fellow of the Geological Society
(FGS) and a member of the Petroleum Exploration Society of Great
Britain (PESGB) with over 28 years' experience in oil and gas
exploration and production. David Clarkson, Operations Director of
Bowleven plc, is a Chartered Engineer and Fellow of the Institution
of Mechanical Engineers with extensive oil and gas industry
experience.
(2) Actis is a private equity firm investing exclusively in
Africa, Asia and Latin America. In 2014, Actis acquired a 56% stake
in Cameroon's national electricity utility, ENEO. ENEO provides
over 900MW of generation and supplies electricity to more than 1
million customers.
(3) Bowleven has a 100% interest in the Bomono Permit.
Glossary of Terms:
The following are the main terms and abbreviations used in this
announcement:
Actis Actis LLP
AIM the market of that name operated
by the London Stock Exchange
Bomono Permit the production sharing contract
between the Republic of Cameroon
and EurOil, dated 12 December 2007,
in respect of the area of approximately
2,328km(2) comprising former blocks
OLHP-1 and OLHP-2 onshore Cameroon;
or, as the context may require,
the contract area to which that
production sharing contract relates
Bowleven Bowleven plc (LSE:BLVN) and/or its
subsidiaries as appropriate
Eneo Eneo Cameroon SA, an Actis LLP affiliated
company
EWT/extended EWT or Extended well tests offer
well tests the opportunity to gain reservoir
and production data not available
from a traditional, short duration,
well drill-stem tests. The longer
flow period provides a greater radius
of investigation from the wellbore
which, depending on the nature of
the reservoir, can assist in identifying
reservoir boundaries and proving
up reserves.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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