Etinde Exploitation Authorisation Update

RNS Number : 4152Z

BowLeven Plc

06 February 2014

 

6 February 2014

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

Etinde Exploitation Authorisation Application (EEAA) Update

Bowleven, the Africa focused oil and gas exploration group traded on AIM, today announces an update on the Etinde Exploitation Authorisation Application (EEAA).

The EEAA defines the means of monetising the Etinde hydrocarbons by supplying treated gas to a Government sponsored fertiliser plant and also through a liquefied natural gas (LNG) scheme. The submission of the EEAA was jointly approved by Bowleven and its partner CAMOP at a Management Committee meeting on 3 January 2014 and was subsequently submitted to the Cameroon Authorities for their approval on 6 January 2014.

The Ministry of Mines has confirmed receipt of the application and has advised that it will respond to the application once SNH have reverted with their technical opinion.

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

Bank of America Merrill Lynch (Nomad)                                             

Tony White                                                                  00 44 207 628 1000

Derek Ross     

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 five blocks in Cameroon, with three blocks located offshore in shallow water and two onshore. All of these blocks are operated by Bowleven. Bowleven also holds an equity interest in the onshore Adamantine-operated block 11B in Kenya.

Notes to Announcement:

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

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
CAMOP	Cameroon Offshore Petroleum S.A.R.L., the holder of a 25% non-operated participating interest in the Etinde Permit
EEAA	Etinde Exploitation Authorisation Application
LNG	liquefied natural gas
SNH	Société Nationale des Hydrocarbures, the national oil and gas company of Cameroon

 

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