Etinde - Rig Contract

RNS Number : 6882D

Bowleven plc

01 February 2018

 

1^st February 2018

Bowleven plc ('Bowleven' or 'The Company')

Etinde - Rig Contract

Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce a key milestone in the appraisal drilling campaign of its Etinde asset, in which the Company holds a 25% offshore interest.

The Company's partner, New Age Cameroon Offshore Petroleum S.A., a wholly owned subsidiary of New Age (African Global Energy Ltd) ("New Age"), the Operator of the Etinde PSC, has entered into a contract with Vantage Drilling International, an offshore drilling contractor for the jack-up rig the "Topaz Driller".

The Topaz Driller, has been contracted for 150 days to perform drilling services in Cameroon on the Joint Venture's proposed appraisal wells, on the Etinde licence. Planning for the delivery of the appraisal wells is ongoing and the Company currently expects the well IM-6 spud during Q2 2018. The Topaz Driller is currently in South East Asian waters and will transit to Singapore before mobilising to Cameroon.

ENQUIRIES
For further information, please contact:
Bowleven plc
Eli Chahin, Chief Executive		00 44 131 524 5678
Brunswick Group LLP
Patrick Handley		00 44 207 404 5959
Will Rowberry
Cenkos Securities plc (NOMAD)
Derrick Lee		00 44 131 220 6939
Neil McDonald

 

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