Bowleven plc Issues Group Operational Update
Bowleven, the Africa focused oil and gas exploration group traded on AIM, announces an update on its operational activities, onshore Cameroon and Kenya.
Bomono Permit, Cameroon
Drilling contractor AODL has assembled the rig and drilling systems at Zingana, the first of two well locations in the 2015 exploration programme. Routine function checks have identified certain mechanical and control issues that need to be addressed by AODL before drilling operations commence. A further update on the expected spud date will be provided in due course.
The technical and commercial work on the development options in the event of success on Bomono continues, and is clearly advantaged by the evolving industry cost environment.
Block 11B, Kenya
Adamantine, operator of block 11B, has advised that they have applied to the Kenyan authorities for a 15 month extension to allow for the acquisition, processing and evaluation of 2D seismic. Logistical issues, including security concerns, have delayed the commencement of seismic operations, such that the programme will be unable to be completed prior to the expiry of the first exploration phase of the licence on 26 May 2015.
The company will announce its Interim Results for the six months ended 31 December 2014 as planned on Wednesday 25 March 2015.
Source: Bowleven plc