Bomono Licence Extension Granted

RNS Number : 9850V

BowLeven Plc

22 April 2016

 

22 April 2016

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

Bomono Licence Extension Granted

Bowleven, the Africa focused oil and gas exploration group traded on AIM announces that it has been awarded a one year extension to the existing Bomono exploration licence, onshore Cameroon, pending the final award of an Exploitation Authorisation (EA).

The Bomono Exploitation Authorisation Application (BEAA) was submitted to the Cameroon authorities prior to the formal expiry of the exploration licence on 12 December 2015 to enable the progression of development activities.

The interim extension award ensures that the Group's interest in the acreage is maintained while dialogue is ongoing with the Cameroon authorities on the BEAA.

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 vision is to build an African focused exploration and production company focused on creating and realising material value through exploration-led organic growth and niche acquisitions. Bowleven holds equity interests in three blocks in Cameroon, with one block located offshore in shallow water (operated by NewAge) and two onshore (operated by Bowleven).

Bowleven, operator, has a 100% equity interest in the Bomono Permit.

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
BEAA	Bomono Exploitation Authorisation Application
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

 

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