Bowleven has completed logging activities on the IF-1r exploration well. Based on initial petrophysical log evaluation, the well has encountered a potentially significant light oil column in the uppermost Isongo formation.
This comprises thinly interbedded reservoir which may have an impact on test productivity. However, the pressure gradient indicates an oil column of at least 200 feet, representing the first oil column encountered on the Etinde permit.
Bowleven's IF-1r exploration well is in Block MLHP-7 of the Etinde Permit in the Rio Del Rey Basin, offshore Cameroon. The primary objective of the IF-1r well is to explore for gas/condensate bearing sands in a structure located up-dip from the adjoining IE field. The well was drilled using the Trident IV jackup rig.
Further detailed analysis of the well data, including test information, will be required to evaluate the significance of this accumulation. The Company is now preparing to test the well.
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