BLVN.L Regulatory News (BLVN)

4 Feb 2008 07:00

BowLeven Plc04 February 2008 4 February 2008 Bowleven plc ('Bowleven' or 'the Company') Operational Update - Rig secured for re-drill of IF exploration well Bowleven, the African focused oil & gas company listed on AIM, today announcesthat the Company has signed a drilling contract with Sedco Forex InternationalInc ("SFI") for the drilling of one well with the jack-up rig Trident IV. Therig will be used to re-drill the IF exploration well located in Block MLHP 7offshore Cameroon and operations are currently expected to commence in lateApril / early May 2008. Further announcements will be made as appropriate. ENQUIRIES For further information please contact: Bowleven plcKevin Hart, Chief Executive Officer 00 44 131 524 5656 Brunswick Group LLPPatrick Handley 00 44 207 404 5959Deborah Spencer Hoare Govett Limited 00 44 207 678 8000Andrew Foster Notes to the Editor: Bowleven is an African focussed oil and gas group, based in Edinburgh and listedon AIM since 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 MLHP 5, MLHP 6 and MLHP 7. Intotal BowLeven has approximately 2,300 km2 of exploration acreage located acrossthe Rio del Rey and Douala basins in the Etinde Permit. EurOil Limited has alsorecently been awarded a new licence (the Bomono Permit) in onshore Cameroonextending to approximately 2,328 km2 in the Douala/Kribi campo Basin. Bowlevenhas operated in Cameroon 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 approximately 1,340 km2 of exploration acreage inonshore Gabon which sits adjacent to a number of recent discoveries insurrounding blocks. Sedco Forex International Inc is a subsidiary of the ultimate parent company ofTransocean Inc., a Cayman Islands entity. This information is provided by RNS The company news service from the London Stock Exchange