BLVN Bowleven Plc

TIDMBLVN

RNS Number : 5497N

BowLeven Plc

01 February 2016

1 February 2016

Bowleven plc ('Bowleven' or 'the Company')

Update on the Proposed Acquisition of Licence Interests in Tanzania

Bowleven, the Africa focused oil and gas exploration group traded on AIM, announces that, further to the announcement of 19 November 2015, it has decided not to pursue its interest in the proposed acquisition from Aminex PLC of a 25% interest in the Kiliwani North Development Licence and a 50% interest in the Ruvuma PSA, in Tanzania, following the completion of due diligence.

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 principally 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.

Glossary of Terms:

The following are the main terms and abbreviations used in this announcement:

 
 AIM        the market of that name operated 
             by the London Stock Exchange 
 Bowleven   Bowleven plc (LSE:BLVN) and/or its 
             subsidiaries as appropriate 
 PSA        Production Sharing Agreement 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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February 01, 2016 02:00 ET (07:00 GMT)

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