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Bowleven looks forward to new drilling as rig arrives offshore Cameroon

A drill rig will shortly kick off a two-well programme to add reserves and better define the field
oil and gas operations
The Topaz-Driller rig is contracted for a 150-day period.

Bowleven Plc (LON:BLVN) investors can now look forward to a new drill programme offshore Cameroon.

It highlighted in a statement that the Topaz-Driller rig has now arrived in the country.

READ: Barclays downgrades Bowleven after activist-led boardroom cull

At the company’s 25% owned Etinde project two appraisal wells will be drilled with the first well, referred to as IM-6, due to be spudded at the end of May.

The Topaz-Driller rig is contracted for a 150-day period.

Etinde is located in shallow water, the total permit area spans some 461 square kilometres and following a previous discovery well the London-listed firm estimated some 58mln barrels of net resources.

The upcoming appraisal wells will target additional oil reserves and aim to better define the full discovery area to shape a future development plan.

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