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Fri, 8th Feb 2019 07:00
RNS Number : 4298P
Bowleven plc
08 February 2019
8 February 2019

Bowleven plc

("Bowleven" or the "Company")

Confirmation of Special Dividend Payment

Bowleven, the Africa focussed oil and gas company traded on AIM, is pleased to confirm the payment today of the special dividend of approximately £50 million, or 15 pence per ordinary share.

As previously announced, the upcoming Etinde work programme and budget has now been agreed amongst the upstream joint venture partners for 2019. The detailed effort will contribute towards the interpretation of the data and the development options for the block with a view to its commercialisation.

The dividend has today been paid to those shareholders on the register on 18th January 2019.

Eli Chahin, Bowleven CEO, commented:

"I'm delighted the Company is in a position to return this money to shareholders whilst continuing to offer significant future upside for investors as we work to reach FID on Etinde.

The management team's priority has always been maximising value for shareholders. The payment of this Special Dividend represents a major return of capital to investors, but also a statement of our commitment to ensuring the interests of the Company's owners are always at the forefront of the Board's considerations."

Ahoy

wins the day.

we have an accountant on board.

i sense life getting sucked somewhere

more like a wart

is this the long slow climb back to reasonableness?

hopefully.

thanks for that leas. are you suggesting JW was loose lipped talking about rigs?

one day the market will wake up here.

zzzzzzzzzzzzzzzzzz

sounds like you know what you are doing - ever thought about a job at PDL?

now looks like they either want no sellers or desperate to force this in a direction.

So I have three left...........?

Dang!........... 2.

if you have followed this BB for any time you will know who the provocative windup merchants are, who actually tries to post company info and company business relevent info, and who just copies and pastes RNSs.

? as i said on the RNS update, the mention of a third rig tends to suggest at least a second rig. my great hope is that they do not stick to one rig. JTD has helpfully shown that tender news for assistance is appearing through our partner's website. i have no experience with rig mobilisation - other than in connection with shares that I have held - so my impression is that this does not happy overnight. in summary, i epxect second rig news in due course.

Liar

Baysilhope - is HNY your initials or do you keep wishing me a happy new year?
Perplexed.

Don’t buy based purely on volume then..

try specsavers.
"...long may it last" was a positive comment.