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Pin to quick picksBowleven Share News (BLVN)

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Bowleven sweats on Cameroon presidential signature

Tue, 23rd Dec 2014 07:42

Cameroon-focused oil explorer Bowleven has allowed extra time for the completion of the farm-out agreement over its Etinde project as it continued to sweat over presidential approval.Having in October said the only remaining formality to the completion of the transaction was the gazetting of the signed Presidential decree, the Aim-listed company has revealed that the presidential signature remained un-inked but was "imminent".As such, while Bowleven's management acknowledged that the formal gazetting of the decree "remains achievable" by 31 December 2014, the company and the potential farm-out partners Lukoil/Newage have agreed to an extension to the longstop date to 28 February 2015 to allow additional time if required.The company noted that the Etinde exploration production sharing contract (PSC) which covers the Etinde permit acreage not included within the Etinde Exploitation Authorisation (EEA) awarded in July 2014, formally expired on 22 December 2014.Bowleven has applied for a new PSC over this area and discussions to retain this acreage are underway with the Cameroon authorities, it said.Current Etinde development plans are focused on the 461km-square area covered by the EEA which gives exploitation and development rights for an initial period of 20 years.
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27 Oct 2014 16:37

Bowleven receives approval from Cameroon government for the farm-out of equity interest in the Etinde

Oil and gas producer Bowleven said it has received approval for the farm-out of equity interest in the Etinde prospect from the Cameroon government. The Africa-focused firm also added that it has signed a deal for a two-well exploration programme at Bonomo and that the Cameroon government has given

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27 Oct 2014 09:56

Bowleven Gets Government Approval For Etinde Farm-Out In Cameroon

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26 Aug 2014 14:54

Bowleven extends farm-out long-stop date by two months

AIM-listed oil and gas group Bowleven has extended its completion date of the Lukoil/NewAge Etinde farm-out agreement by two months to 31 October, enabling a few remaining conditions to be satisfied. The main condition that still needs to be met is the approval by the Cameroon government of the tr

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26 Aug 2014 10:46

BowLevn Extends Deadline For Etinde Farm-Out To LUKOIL, New Age

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4 Aug 2014 13:19

CORRECT: Bowleven Receives Cameroon Presidential Decree For Etinde Application

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