Commencement of drilling operations - Sapele-3

RNS Number : 1613M

BowLeven Plc

11 August 2011

 



11 August 2011

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

Commencement of drilling operations - Sapele-3

Sapele-3, Block MLHP-5, Etinde Permit, Offshore Cameroon

Bowleven, the West Africa focused oil and gas exploration group traded on AIM, is pleased to announce that drilling has commenced on the Sapele-3 well, Douala Basin, offshore Cameroon, with the Sapphire Driller jack-up rig. 

The Sapele-3 well, located around sixteen kilometres North West of the Sapele-1 location,  is targeting the Tertiary interval and is to be drilled to an estimated target depth of circa 3,550 metres in water depths of around 30 metres.

A map indicating the location of the Sapele-3 well is available on our website www.bowleven.com under the heading presentations; the presentation is titled "Sapele-3".

Further update announcements on drilling activities will be made as appropriate. 

ENQUIRIES

For further information please contact:

Bowleven plc

Kevin Hart, Chief Executive                                          00 44 131 524 5678

Kerry Crawford, Head of Investor Relations                 00 44 131 524 5678

Brunswick Group LLP

Patrick Handley                                                            00 44 207 404 5959

Kate Boothman-Meier                                      00 44 207 404 5959

RBS Hoare Govett                                                      

Stephen Bowler                                                            00 44 207 678 8000

Jamie Buckland                                                            00 44 207 678 8000

Notes to Announcement:

(1)        The technical information in this release has been reviewed by Ed Willett, who is a qualified person 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 25 years' experience in oil and gas exploration and production.

(2)        The information in this release reflects the views and opinions of Bowleven as operator and has not been reviewed in advance by the Etinde Permit joint venture partners.

GLOSSARY OF TERMS:

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

AIM	Alternative Investment Market
Bowleven	Bowleven plc and/or its subsidiaries as appropriate
Etinde Permit	the production sharing contract between the Republic of Cameroon and EurOil Limited (an indirectly wholly owned subsidiary of the Company) dated 22 December 2008 in respect of the area of approximately 2,316 km², comprising former blocks MLHP-5, MLHP-6 and MLHP-7, offshore Cameroon; or, as the context may require, the contract area to which this production sharing contract relates

 

END

 

 

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