BowLeven Plc Bomono Drilling Update (9658T)
July 24 2015 - 1:01AM
UK Regulatory
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RNS Number : 9658T
BowLeven Plc
24 July 2015
24 July 2015
Bowleven plc ('Bowleven' or 'the Company')
Bomono Drilling Update
Zingana exploration well, Bomono Permit, Cameroon
Highlights
-- Zingana has been drilled to a TD of 1,720m MD; pre-drill well objectives achieved.
-- Wireline logging has been completed and the logs are being evaluated.
-- Hydrocarbons were encountered in target reservoirs.
-- The Zingana well is being suspended as planned to enable future re-entry.
-- Rig now moving to drill second location, Moambe.
Bowleven, the Africa focused oil and gas exploration group
traded on AIM, is pleased to announce that Zingana, the first well
in a two exploration well programme, has been drilled to its
planned total depth (TD) and logged. Hydrocarbons were encountered
in the prognosed Paleocene (Tertiary) aged reservoir intervals and
detailed log evaluation is being undertaken. The rig will now be
moved to the Moambe well location as planned. Moambe, located just
over two kilometres east of Zingana, is a previously undrilled
Paleocene (Tertiary) aged robust three-way dip closed fault block.
As previously outlined, the intention is to drill, log and evaluate
both wells prior to determining any testing plan.
Further update announcements will be made in due course, as
appropriate.
Kevin Hart, Chief Executive, said:
"We are encouraged by the well results to date at Zingana. The
evaluation of log and well data acquired at Zingana is continuing
and we are now looking forward to drilling the second exploration
well in the programme, Moambe."
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 the Announcement:
(1) The technical information in this release has been reviewed
by Ed Willett and David Clarkson, both qualified persons 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 30 years' experience in oil and gas
exploration and production. David Clarkson, Operations Director of
Bowleven plc, is a Chartered Engineer and Fellow of the Institution
of Mechanical Engineers with extensive oil and gas industry
experience.
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
Bomono Permit the production sharing contract between the
Republic of Cameroon and EurOil, dated 12 December
2007, in respect of the area of approximately
2,328km(2) 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
m metres
MD measured depth
TD total depth
This information is provided by RNS
The company news service from the London Stock Exchange
END
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