Bowleven, African focused oil and gas company
Bowleven is an African focused oil and gas group, based in Edinburgh and traded on AIM
since December 2004. Bowleven holds, through its wholly-owned subsidiary EurOil
Limited, a 100% equity interest in the Etinde Permit area comprising three shallow water
blocks in offshore Cameroon, West Africa; namely Blocks MLHP-5, MLHP-6 and MLHP-
7. In total Bowleven has approximately 2,316 km˛ of exploration acreage located across
the Rio del Rey and Douala basins in the Etinde Permit. The Bowleven group has drilled
four wells on the Permit since 2007, all of which have been successful. Following the initial
stage of the VEP transaction, EurOil Limited will retain a 75% equity interest in the Etinde
Permit and in the event of option exercise by 30 September 2010 this will be reduced to a
50% interest. Under the PSC, SNH also has the right to elect to take a 20% participating
interest in development activity on the acreage.
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