BLVN Bowleven (oil and gas) - new to AIM

The fact that they are going to a testing phase suggests that they have found indications of hydrocarbons from wireline logs and drilling shows. For example they may have seen gas shows in the mud and fluouresence in cuttings. The chances are that the wireline logs shows that the rocks are of reservoir quality, ie that they are shale free sandstones with evidence of porosity. If there were no reservoir quality rocks with hydrocarbon shows then they would not be going to the considerable expense of testing the well.