Bowleven upbeat on Etinde tests

Bowleven has completed its testing program on the IE-3 appraisal well on the Etinde permit, offshore Cameroon.

Offshore staff

EDINBURGH, UK -- Bowleven has completed its testing program on the IE-3 appraisal well on the Etinde permit, offshore Cameroon.

The aim of the IE-3 well was to appraise the extent and communication of the upper Isongo reservoir updip of prior wells drilled on the IE field, and also to target further exploration potential in the deeper Isongo reservoirs.

The campaign comprised numerous drillstem tests (DST) over various reservoir intervals. Among the conclusions, Bowleven highlights:

• An increased likelihood of a commercial development, with oil, condensate, and gas produced successfully from test intervals

• Measured flow rates per interval ranging from 845-11,778 boe/d with a cumulative maximum rate of 14,576 b/d of liquids and over 50 MMcf/d of gas (22,909 boe/d in total)

• Liquids produced were both gas condensate and oil, with a gravity range of 36-43º API

• Total net pay from IE-3 estimated at 40 m (131 ft), over gross hydrocarbon columns totalling 134 m (439 ft)

• Oil discovered suggests additional potential in the IE field area and surrounding acreage.

The rig will now transfer to the Sapele-1 exploration well location on MLHP-5, Etinde permit also in Cameroon. This has been designed to access multiple targets including the deeper Cretaceous, to further evaluate the potential of the Douala basin.

In light of the multiple hydrocarbon-bearing reservoirs encountered during IE-3, Bowleven expects to drill a further appraisal well on Etinde.

08/30/2010

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