BLVN.L Regulatory News (BLVN)

19 Feb 2007 09:39

BowLeven Plc19 February 2007 Bowleven plc: Well drilling update Bowleven plc announces it has now completed drilling and logging operations onthe IE-2 well located in Block MHLP 7 of the Etinde Permit in Cameroon. Thewell, which was drilled to appraise the IE-1 discovery made by Total in 1981,reached a depth of 8675 feet subsea. Based on petrophysical log evaluation, two hydrocarbon bearing zones have beenidentified. The upper zone, located in the Biafra formation at a depth ofapproximately 3310 feet, comprises approximately 50 feet of net pay in goodquality gas bearing sandstone. The gas is believed to be relatively dry with fewassociated gas liquids. The lower zone is located in the Isongo formation at a depth of 7850 feet. Itcomprises approximately 130 feet of net pay in good quality sandstone and isbelieved to contain both gas and condensate. A drill stem test is planned overthis lower interval and a further update will be issued shortly. Enquiries: Bowleven +44 131 260 5100Kevin HartJohn MorrowJohn Brown Maitland +44 207 379 5151Neil BennettLiz Morley This information is provided by RNS The company news service from the London Stock Exchange