Last checked at 13 Dec 2017 10:30
13 December 2017
Bowleven plc ("Bowleven" or the "Company")
Annual General Meeting
Bowleven, the Africa focused oil and gas group traded on AIM, will hold its Annual General Meeting today at 11:00am at Hilton Tower Bridge, 5 More London Place, Tooley Street, SE1 2BY
Ahead of the formal business of the AGM, the Board will provide the following strategic update on its activities:
Etinde
We are pleased to announce that, with the outlined agreement of the Etinde JV partners, we will proceed with the drilling of two appraisal wells in the Etinde reserve in 2018. All partners are closely aligned on well locations and a final decision will be taken in early 2018, following a shallow level drilling hazard assessment and sea bottom survey to identify any immediate issues. The initial well designs are completed and a tender process is underway to appoint a drilling contractor and other major suppliers.
The expected timings of the programme, at this stage, are as follows:
• Final locations to be chosen after the hazards survey has been completed and assessed in Q1 2018
• Drilling vessel expected to be mobilised on site in Q2 2018
• IM-6 well spud planned for Q2 2018
• Two well drilling programmes expected to conclude in Q4 2018
Further details of the primary and secondary targets can be found in the AGM presentation which will be uploaded to our website at www.bowleven.com/investor-relations
ENQUIRIES
For further information, please contact:
Bowleven plc
Christopher Ashworth, Chairman 00 44 131 524 5678
Eli Chahin, Chief Executive
Brunswick Group LLP
Patrick Handley 00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)
Derrick Lee 00 44 131 220 6939
Neil McDonald