Bowleven falls on Etinde farm to finance its dev't in Kenya

Bowleven Plc, oil and gas exploration Company active in Africa, released on 12th November its preliminary results of the completed year by June 30, 2014 which marked the installation of "key milestones" towards the conversion of resources into reserves and announced its activities for the next twelve months.

"We made a steady progress during the year by asking for a number of key milestones in our process towards the conversion of resources into reserves and the creation of new values through future activities of exploration and evaluation", Kevin Hart, Chief Executive of Bowleven said.

Mr. Hart welcomed the fact that the company has won the Cameroonian 2,316 km2 Etinde permit for operating rights, which was discharged for the operation of the gas on the block MLHP-7 for an initial period of 20 years.

During the next twelve months, the company, listed in London and very active in Cameroon, plans to participate in the drilling of four exploratory potential wells and large-scale evaluation.

The petro-gas based in Edinburgh hopes that following this transaction, there will be a project strong enough to fully fund the activities of seismic on block 11b in Kenya as well as new acquisitions in Zambia.