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22 Dec 2015 07:00
22 December 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 that following the installation of testing equipment, the Zingana well has now commenced flowing hydrocarbons.
Like Moambe, the extended well testing programme at Zingana is planned to determine the productivity and connectivity of the shallower reservoir units which are intended to provide the basis for the initial supply of gas under a gas-to-power development scheme.
Further update announcements will be made in due course, as appropriate.
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 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.
Glossary of Terms:
The following are the main terms and abbreviations used in this announcement:
AIM | the market of that name operated by the London Stock Exchange |
Bomono Permit | the production sharing contract between the Republic of Cameroon and EurOil, dated 12 December 2007, in respect of the area of approximately 2,328km² comprising former blocks OLHP-1 and OLHP-2 onshore Cameroon; or, as the context may require, the contract area to which that production sharing contract relates |
Bowleven | Bowleven plc (LSE:BLVN) and/or its subsidiaries as appropriate |
Extended well tests/testing | Extended well tests offer the opportunity to gain reservoir and production data not available from a traditional, short duration, well drill-stem tests. The longer flow period provides a greater radius of investigation from the wellbore which, depending on the nature of the reservoir, can assist in identifying reservoir boundaries and proving up reserves. |
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