BLVN.L Regulatory News (BLVN)

25 November 2015

Bowleven plc ('Bowleven' or 'the Company')

Testing Update - Bomono Permit, Cameroon

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce the following update on the extended well test programme underway at Bomono.

To date, the Moambe well has achieved a maximum stabilised flow rate of 7.3 mmscfd through a 48/64 choke with a flowing well head pressure of 664 psig with no signs of depletion during the initial test period. As a result of this success, the well has now moved into the planned extended test period. This is intended to confirm sustainable deliverability to a proposed gas-to-power development scheme. Initial indications are that under such a development scenario the Moambe well would be capable of delivering around 4 to 5 mmscfd.

Meanwhile, as testing continues at Moambe, we continue to progress plans to commence extended well testing at the Zingana well.

Further update announcements will be made in due course, as appropriate.

Kevin Hart, Chief Executive, said:

"We are pleased with the positive initial flow test results on Moambe which give us increased confidence in the commercial viability of future development plans at Bomono. We look forward to the Zingana test augmenting the results at Moambe and to progressing gas sales negotiations."

ENQUIRIES

For further information please contact:

Bowleven plc

Kevin Hart, Chief Executive 00 44 131 524 5678

Kerry Crawford, Finance Director

Brunswick Group LLP

Patrick Handley 00 44 207 404 5959

Simon Maine

Macquarie Capital (Europe) Limited (Nomad)

Jon Fitzpatrick 00 44 203 037 2000

Ken Fleming

Nick Stamp

Notes to Editors:

Bowleven is an African focused oil and gas exploration group, based in Edinburgh and traded on AIM. Bowleven's strategy is focused on creating and realising material value principally through exploration led organic growth. Bowleven holds equity interests in two permits in Cameroon, with one located offshore in shallow water (operated by NewAge) and the other onshore (operated by Bowleven).

Bowleven also holds an equity interest in an onshore block in Kenya, operated by Adamantine Energy, and has been awarded three blocks in Zambia, with applications on two blocks pending.

Notes to Announcement:  

(1) The technical information in this release has been reviewed by Ed Willett and David Clarkson, both qualified persons for the purposes of the AIM Guidance Note for Mining, Oil and Gas Companies. Ed Willett, Exploration Director of Bowleven plc, is a geologist and geophysicist, a Fellow of the Geological Society (FGS) and a member of the Petroleum Exploration Society of Great Britain (PESGB) with over 28 years' experience in oil and gas exploration and production. David Clarkson, Operations Director of Bowleven plc, is a Chartered Engineer and Fellow of the Institution of Mechanical Engineers with extensive oil and gas industry experience.

(2) Bowleven has a 100% interest in the Bomono Permit.

(3) Under a gas-to-power development scheme, a production rate of 5 mmscfd would be expected to generate approximately 25MW of power.

(4) As planned, the ongoing testing programme is targeting the shallower gas-prone sands which it is proposed will be used for the initial feedstock for power generation. Meanwhile, the evaluation of the potential of the deeper sands that were targeted and encountered with both wells is also continuing.

Glossary of Terms:

The following are the main terms and abbreviations used in this announcement: