Last checked at 1 Feb 2016 07:00
1 February 2016
Bowleven plc ('Bowleven' or 'the Company')
Update on the Proposed Acquisition of Licence Interests in Tanzania
Bowleven, the Africa focused oil and gas exploration group traded on AIM, announces that, further to the announcement of 19 November 2015, it has decided not to pursue its interest in the proposed acquisition from Aminex PLC of a 25% interest in the Kiliwani North Development Licence and a 50% interest in the Ruvuma PSA, in Tanzania, following the completion of due diligence.
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.
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 |
Bowleven | Bowleven plc (LSE:BLVN) and/or its subsidiaries as appropriate |
PSA | Production Sharing Agreement |