Bowleven plc Spud of IM-6 well, Etinde, Cameroon (8623O)
May 22 2018 - 6:44AM
UK Regulatory
TIDMBLVN
RNS Number : 8623O
Bowleven plc
22 May 2018
22 May 2018
Bowleven plc
('Bowleven' or 'The Company')
Etinde Operational Update
Spud of IM-6 well, Etinde, Cameroon
Bowleven, the Africa focused oil and gas company traded on AIM,
is pleased to announce the spud on 21 May 2018 of the IM-6
appraisal well at the Etinde block, Cameroon, by the block's
operator, New Age Cameroon Offshore Petroleum SA ("NewAge").
The IM-6 well is the first of two appraisal wells to be drilled
in 2018. The Etinde Joint Venture partners have contracted the
Vantage jack-up rig "Topaz Driller" for this campaign, Drilling and
logging operations of IM-6 are expected to take approximately 100
days in total with Schlumberger providing most of the drilling
services. As previously announced, the well is designed to
delineate the size and extent of the Intra-Isongo stratigraphic
sand traps as a primary target, with the Upper Isongo sand as a
secondary target.
New Age is the operator of the Etinde field, with a 37.5%
working interest. Bowleven and LUKOIL are partners with a 25% and
37.5% working interest respectively. The Company intends to
announce the final well results after the end of drilling and
testing operations
Eli Chahin, CEO of Bowleven said:
"We are pleased to have commenced our 2018 two well appraisal
drilling programme at Etinde. This is a significant event for
Bowleven, its shareholders, partners and stakeholders in Cameroon.
I would like to thank New Age's operations team and our drilling
contractor, Vantage, for all their efforts in achieving this
milestone.
The appraisal program, for which Bowleven is fully carried, aims
to further improve the already robust economics for future
development of this world class asset and we look forward to
providing an update on IM-6 results over the coming weeks."
ENQUIRIES
For further information,
please contact:
Bowleven plc
Eli Chahin, Chief Executive 00 44 131 524 5678
Celicourt Communications
Ltd
Mark Antelme 00 44 207 520 9261
Henry Lerwill
Stockdale Securities Ltd
(NOMAD and Broker)
Robert Finlay 00 44 207 601 6100
Antonio Bossi
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END
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