BLVN.L Regulatory News (BLVN)

13 Jun 2007 15:10

BowLeven Plc13 June 2007 13 June 2007 BowLeven plc ("BowLeven" or "the Company") Operational update : D-1 Well BowLeven announces that it has reached target depth on the D-1 exploration welllocated in Block MLHP 5 offshore Cameroon. The primary objectives of the D-1well were to explore the presence, extent, quality and fluid phase of UpperMiocene channelised turbidite sands. Initial logging indicates that the D-1 well has successfully intersectedlog-evaluated hydrocarbon bearing Miocene sands. Logging continues andpreparations are being made to Drill Stem Test the well. A further update announcement will be issued shortly. ENQUIRIES For further information contact: BowLeven plcKevin Hart, Chief Executive Officer 00 44 131 260 5100 Brunswick Group LLPPatrick Handley 00 44 207 404 5959Deborah Spencer Notes to the Editor: BowLeven is an African oil and gas group, based in Edinburgh and traded on AIMsince December 2004. BowLeven holds, through its wholly-owned subsidiary EurOil Limited, a 100%equity interest in the Etinde Permit area being three shallow water blocks inoffshore Cameroon, West Africa; namely Blocks MHLP 5, MHLP 6 and MHLP 7. Intotal BowLeven has approximately 2,300 km2 of exploration acreage located acrossthe Rio del Rey and Douala basins in the Etinde Permit. Bowleven has operated inCameroon since 1999. The Cameroon Government has announced a cooperation agreement with theGovernment of Equatorial Guinea to investigate a project to export gas fromCameroon to the gas liquefaction plant on Bioko Island on Equatorial Guinea. Itis proposed that Limbe would be the gathering hub for any such scheme. BowLeven also holds, through its wholly-owned subsidiary FirstAfrica Oil, a 100%equity interest in the EOV offshore block in Gabon, which contains an existingoil discovery that it is seeking to develop, and a 50% equity interest in theEpaemeno Block which is 1,340 km2 of exploration acreage in onshore Gabon whichsits next to a number of recent discoveries in surrounding blocks. This information is provided by RNS The company news service from the London Stock Exchange