Bowleven Secures Rig for 2006/7 Drilling Program

BowLeven has signed a drilling contract with GlobalSantaFe to use the GSF Adriatic VI to continue its drilling campaign offshore Cameroon, West Africa.

The agreement covers the drilling of four wells as part of the 2006/7 drilling program. The rig is expected to come on contract to BowLeven in November 2006.

The drilling targets for the 2006/7 drilling program will be decided after completion of the interpretation of the 3D seismic data over Block MLHP-7 and the acquisition, processing and interpretation of seismic data over Blocks MLHP-5 and -6 of the Etinde Permit. After integration of the results of the 2005 drilling program and the interpretation of the new seismic data the Company will consider several options including appraisal and development drilling options.

Philip Rhind, Chief Executive of BowLeven, said:
"We are pleased to have secured the GSF Adriatic VI to continue our 2006 drilling campaign. Despite the recent results from the Manyikebi-1 well, we remain confident that we will deliver success with the drill bit."

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