Last checked at 29 May 2009 16:31
EMBARGOED FOR RELEASE UNTIL 4:30pm FRIDAY 29th MAY 2009
29 May 2009
Bowleven plc ('Bowleven' or 'the Company')
Notification of Release of Competent Person's Report on Block MLHP-7 IF Oil Discovery
An independent competent person's report ("CPR") has been completed by TRACS International Consultancy on the recent IF oil discovery on Block MLHP-7 on the Etinde Permit, Cameroon.
A summary of the CPR will be released on Monday 1 June 2009. The full study will also be available on the Company's website at www.bowleven.com.
The announcement on 1 June 2009 will be followed by an analyst presentation in the afternoon on the same day - further details will be provided.
ENQUIRIES
For further information please contact:
| Bowleven plc | |
| Kevin Hart, Chief Executive | 00 44 131 524 5678 |
| Brunswick Group LLP | |
| Patrick Handley | 00 44 207 404 5959 |
| Deborah Spencer | 00 44 207 404 5959 |
| RBS Hoare Govett | |
| Andrew Foster | 00 44 207 678 8000 |
NOTES TO THE EDITOR
Bowleven is an African focused oil and gas group, based in Edinburgh and traded on AIM since December 2004.
Bowleven holds, through its wholly-owned subsidiary EurOil Limited, a 100% equity interest in the Etinde Permit area comprising three shallow water blocks in offshore Cameroon, West Africa; namely Blocks MLHP-5, MLHP-6 and MLHP-7. In total Bowleven has approximately 2,316 km2 of exploration acreage located across the Rio del Rey and Douala basins in the Etinde Permit. The Group has drilled four wells on the Permit since 2007, all of which have been successful. EurOil Limited also has a 100% equity interest in the Bomono Permit, onshore Cameroon, extending to approximately 2,328 km2 in the Douala/Kribi Campo basin. Bowleven has operated in Cameroon since 1999.
Bowleven also holds, through its wholly-owned subsidiary FirstAfrica Oil Limited, a 100% equity interest in the EOV Permit offshore in Gabon, which contains an existing oil discovery that it is seeking to develop, and a 50% equity interest in the Epaemeno Permit, which is approximately 1,340 km2 of exploration acreage in onshore Gabon and sits adjacent to a number of recent discoveries in surrounding blocks.