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LONDON (Alliance News) - Bowleven PLC Thursday said it is awaiting a response to its Etinde Exploitation Authorisation Application from the Cameroon authorities.
The Africa focused oil and gas exploration company said the Ministry of Mines in Cameroon has confirmed receipt of the application and has advised that it will respond to the application once it has received technical verification.
The company said the submission of its EEAA was jointly approved by Bowleven and its partner CAMOP at a management meeting in January and subsequently submitted to the Cameroon authorities.
The EEAA defines the means of monetising the Etinde hydrocarbons by supplying treated gas to a Government sponsored fertiliser plant and also through a liquefied natural gas scheme.
The Etinde permit lies in shallow water off the coast of Cameroon and Bowleven holds a 75% stake in the site while CAMOP holds the other 25%.
Bowleven shares were up 2.5% to 35.88 pence Thursday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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