Bowleven to Deepen Well Offshore Cameroon

Bowleven announced its intention to deepen the Sapele-3 exploration well drilling in the Douala Basin, offshore Cameroon.

Sapele-3 drilling update

The Sapele-3 well is located circa 16 kilometers North West of Sapele-1 and circa thirteen kilometers North West of the D-1r wells. The well is drilling in water depths of approximately 30 meters.

On October 14, 2011, Bowleven announced that the well had encountered oil and gas condensate in the Deep Omicron and D-1r equivalent intervals respectively and that drilling within the Deep Omicron interval was to continue.

A further MDT sampling and extensive sidewall core program has been carried out. The data acquired will now be evaluated. Casing has now been set and a liner run pending further drilling.

Given the optimized well design and progress made operationally with Sapele-3, the current intention, subject to final government approval, is to drill on through the Deep Omicron interval into the Epsilon Complex. The Epsilon Complex was previously drilled with the Sapele-1 exploration well where the presence of both gas condensate and oil were confirmed and represents a highly prospective interval that Bowleven believes warrants further investigation.