Bowleven plc Spud of IE-4 well, Etinde, Cameroon (4567Z)
August 31 2018 - 10:05AM
UK Regulatory
TIDMBLVN
RNS Number : 4567Z
Bowleven plc
31 August 2018
31st August 2018
Bowleven plc
('Bowleven' or 'The Company')
Spud of IE-4 well, Etinde, Cameroon
Bowleven, the Africa focused oil and gas company traded on AIM,
is pleased to announce the spud of the IE-4 appraisal well at the
Etinde block, Cameroon, by the block's operator, New Age Cameroon
Offshore Petroleum SA ("NewAge").
The IE-4 well is the second of two appraisal wells to be drilled
in 2018. The Etinde Joint Venture partners have contracted the
Vantage jack-up rig "Topaz Driller" for this campaign. Drilling and
logging operations of IE-4 is expected to take approximately 90
days in total with Schlumberger providing most of the drilling
services.
The IE-4 well will target a previously undrilled sand package
"Drillbit" of Intra-Isongo origin, which is believed to be
analogous to the 410 sand package at the IM-5 location. Any
discovery in this appraisal well could prove up or de-risk a
further 0.2 to 0.6 tcf of resources (Drillbit, Bolt, Crowbar
sites).
It is expected that it will be required to drill to -2840 meters
True Vertical Depth Subsea ("TVDSS") to fully penetrate the
prognosed reservoir targets. A further 50 meter rat hole will be
required to allow for logging sump. Well Total Depth will be at
-2890 meters TVDSS.
New Age is the operator of the Etinde field, with a 37.5%
working interest. Bowleven and LUKOIL are partners with a 25% and
37.5% working interest respectively. The Company intends to
announce the final well results after the end of drilling and
testing operations.
ENQUIRIES
For further information, please contact:
Bowleven plc
Eli Chahin, Chief Executive 00 44 131 524 5678
Celicourt Communications Ltd
Mark Antelme 00 44 207 520 9261
Henry Lerwill
Stockdale Securities Ltd (NOMAD and
Broker)
Robert Finlay 00 44 207 601 6100
Antonio Bossi
David Coaten
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END
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