Business in Cameroon) - British Oil and Gas firm Bowleven Plc announced 28 September 2015 it has discovered in its Moambe well, traces of hydocarbons. This well is the second the group drilled this year in the bomono permit zone (after Zingana’s) which covers two blocks of 2328 Km in the Douala Basin, Cameroon. Moambe’s well has been drilled to a depth of 1,769 m. Bowleven also said tests at Zingana were ongoing. Zingana’s well is the first where hydrocarbon intervals were found by the British group, in July this year. These tests mainly focus on evaluating the profitability of the well, which could serve as a supply source for the various thermal plants in the country. Bowleven indeed revealed that depending on the conclusion of the ongoing preliminary tests both at Moambé and Zingana, deals which are actually on the negotiation table could be struck with Eneo and Actis. In the case where tests at both wells are satisfying, Bowleven hopes to land a deal to supply the Cameroonian public electricity distributor.
Happy with BLVN progress but resigned to an understated sp with the bearish sentiment in the commodities market. Although I am aware there are those here who would blame the Board or Father Christmas for all BLVN woes.
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