Bowleven plc (LON:BLVN)Energy
Founded in 2001, Bowleven Plc is a UK-based oil and gas company with focus on Africa where it holds a combination of pre-development and exploration interest in Cameroon. The company holds equity interest in the offshore shallow water Etinde Permit, formerly block MLHP-7 in Cameroon, which is currently operated by NewAge. The company is listed on the Alternative Investment Market (AIM) of the London Stock Exchange as LON: BLVN.
The company aims to deliver its shareholders with high value from its asset in Cameroon, while maintaining capital discipline and engaging a rigorously selective approach to other value enhancing opportunities. the company currently hold 25% interest in the shallow water offshore Etine Permit, located in the prolific Rio del Rey Basin, with production sharing contract (PSC) of 20 years with an option to extend it further for ten years.
After NewAge acquired LUKOIL, its operating interest increased to 75% in Etine Permit. Cameroon operations are managed by the company’s wholly-owned subsidiary, EurOil Ltd that currently operates in Etine Permit through JV Partners that is assessing options for a staged development of the liquids-rich discoveries on the acreage. The offshore Cameroon consists of two hydrocarbon provinces that include the Douala Basin and the Rio Del Basin that was formed with the rift between South America and Africa.
50 Lothian Road, Festival Square, Edinburgh, EH3 9WJ, United Kingdom