Bow Energy Continues to Grow in Second Quarter

Australia's Bow Energy has released its second quarter earnings report, offering the following on its operations.

Bow has made an all-script offer for Roma Petroleum NL, promising 5 Bow shares for 7 Roma shares.

The well Cuisinier-1 was cased and suspended as an oil discovery in the Jurassic-aged Murta sandstone. Bow fully carried on up to 5 additional wells and 3D seismic.

Bow has entered into agreements with Mosaic Oil NL for a multi-well staged farmin program.

A five day first flow test of the first completed Don Juan Coal Seam Gas (CSG) pilot production well flowed water at a stabilized rate of 1,358 barrels per day with gas at low rates. Core hole drilling, as required for reserves certification at the Don Juan CSG project, has been recommenced.

The firm plans to investigate feasibility of a Domestic LNG plant to be located at the Don Juan CSG project north of Roma.

Bow has an inventory of 94 oil prospects and leads in its Central Eromanga project areas and is marketing multi-well farm outs.

The company sold 946 barrels of oil from Bow’s 65% owned Rookwood Oil Field. Bow claimed $8.525 million in cash at the quarter end of June 30, 2008.
 

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