ANGOLA ALGERIA CAMEROON CHAD. CONGO EGYPT.. EQUATORIAL GUINEA GABON LIBYA. NIGERIA SOUTH AFRICA SUDAN TUNISIA OTHERS
11-14-2007
BowLeven is in active talks to find a partner to help commercialize its offshore blocks in Cameroon as it drives towards production for the first time.
Chief executive Kevin Hart said a further three or four exploratory wells would need to be drilled in the area and the company is seeking a partner to develop its resources.
The talks are ongoing but Hart said interest in the area had been high as the region developed from a gas to a gas and oil exploration and production. While a further appraisal well is required for block
The Edinburgh-based, west African-focused oil gas exploration firm has agreed to farm out 50 per cent of its only onshore block in Gabon to Addax, pending government approval.
Yesterday BowLeven revealed its losses had more than doubled to £4.8 million in the year to 30 June on sharply increased administrative costs, as it moved into a major exploration programme and completed an acquisition to take it into Gabon.
During the year, the company commenced a major drilling programme with three wells in offshore Cameroon which Hard said had substantially advanced its asset base.
Hart said the company was also investigating entry into a third west African company, though unlike its entry into Gabon through the acquisition of FirstAfrica, another deal was more likely to come through acquisition of exploration blocks through a licensing round.