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Drilling Report

RNS Number:4018W
BowLeven Plc
04 January 2006



04 January 2006


BowLeven Plc ('BowLeven' or 'the Company')


Drilling and Business Update


Bachuo - 1, Cameroon.


BowLeven announces that, following the initial test data, it has been decided to
suspend activities at its Bachuo-1 exploration well in Block MLHP-7, offshore
Cameroon.

The Bachuo-1 well was spudded on October 29 2005 and was drilled to a depth of
10,353 feet. The well targeted what was interpreted as a sequence of stacked
and amalgamated debris flow reservoirs of Upper Isongo age. These were predicted
to contain gas and gas condensates. Gas was encountered while drilling in a
number of zones and logging indicated about 300 feet of apparent gas bearing
section with low permeabilities. A production test was conducted over one of
the zones, but this failed to produce gas.

Following the results of this test, operations have been suspended. There will
be a full review of the test and drilling results before any final decision is
made to either abandon the well or re-enter it during a future drilling
campaign. A further announcement detailing this decision will be made in due
course.

Philip Rhind, BowLeven CEO, said "We are obviously disappointed that the
production test failed to produce gas. The results from this well have
nevertheless provided important geotechnical data to help us further evaluate
what is still, we believe, a highly prospective block."

"We also have a busy schedule of 3D seismic acquisition beginning on Blocks MLHP
5 and 6 early this year, to be followed by a drilling programme. We have
secured a drilling rig for 4 wells commencing in late 2006."

The Company also announces that it has been served with a claim by Addax
Petroleum NV ("Addax") seeking repayment of a non refundable deposit of US$3
million. This sum was paid as part of an agreement under which a farm-in
arrangement was contemplated. Addax subsequently indicated that it would not
proceed with this arrangement. The Directors, having taken legal advice, intend
to defend the claim.

Currently, the Company's cash resources that are available to fund its ongoing
work programme and operations amounts to approximately #48 million.



For further information contact:


Philip Rhind, Chief Executive, BowLeven Plc, 0131 260 5100

Adam Westcott, Noble & Company Limited, 0131 225 9677


Neil Bennett, Maitland, 020 7379 5151