Drilling Update

BowLeven Plc 09 January 2007 BowLeven plc ('BowLeven' or 'the Company') Operational update - commencement of drilling BowLeven is pleased to announce that the GlobalSantaFe Adriatic VI drilling rig, which has been contracted by the Company for a four well drilling programme, is now on location and commenced drilling on 8 January 2007. The initial well being drilled is an Isongo E 2 ('IE 2') location, the first appraisal well on the existing Isongo E discovery in Block MLHP 7 of the Etinde Permit in Cameroon. The primary objectives of the IE 2 well are to appraise the extent and volume of the Isongo Sand 1 in the discovery well IE 1 and explore the deeper Isongo sands which were water wet in IE 1. If successful, the well will be suspended to allow for later re-entry and completion as a gas condensate producer. The well will be drilled to a depth in excess of 8,500 feet and total operational time is currently estimated at approximately 8 weeks. Further update announcements will be made as appropriate. Commenting on this, Kevin Hart, BowLeven's Chief Executive said: 'I am delighted that we have now commenced the drilling programme. With the four wells to be drilled over the forthcoming months we have an exciting period ahead.' ENQUIRIES For further information contact: BowLeven plc Kevin Hart, Chief Executive Officer 00 44 777 193 4974 Maitland Neil Bennett 00 44 207 379 5151 Liz Morley Notes to the Editor: BowLeven is an African oil and gas group, based in Edinburgh and traded on AIM since December 2004. BowLeven holds, through its wholly-owned subsidiary EurOil Limited, a 100% equity interest in the Etinde Permit area being three shallow water blocks in offshore Cameroon, West Africa; namely Blocks MHLP 5, MHLP 6 and MHLP 7. In total BowLeven has approximately 2,300 km2 of exploration acreage located across the Rio del Rey and Douala basins in the Etinde Permit. As well as P50 hydrocarbon reserves and contingent resources on Block MHLP 7 (which has had 11 wells drilled in it) the total acreage has very attractive exploration potential. Bowleven has operated in Cameroon since 1999. The discovery well IE 1 was drilled in 1980 by Total and encountered three sands at the Isongo level (one partially gas bearing). A drill stem test was taken in the top Isongo sand in IE 1 and flow rates of 8 mmscf/d of gas and 1,446 bbl/d of condensate were recorded giving a condensate gas ratio of 180 bbl/mmscf. The IE 2 well being drilled is located approximately 27 km from the power plant at Limbe in Cameroon. This information is provided by RNS The company news service from the London Stock Exchange

Companies

BowLeven (BLVN)
UK 100

Latest directors dealings