BowLeven Plc AGM Statement (2030Z)

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RNS Number : 2030Z

BowLeven Plc

13 December 2017

13 December 2017

Bowleven plc ("Bowleven" or the "Company")

Annual General Meeting

Bowleven, the Africa focused oil and gas group traded on AIM, will hold its Annual General Meeting today at 11:00am at Hilton Tower Bridge, 5 More London Place, Tooley Street, SE1 2BY

Ahead of the formal business of the AGM, the Board will provide the following strategic update on its activities:

Etinde

We are pleased to announce that, with the outlined agreement of the Etinde JV partners, we will proceed with the drilling of two appraisal wells in the Etinde reserve in 2018. All partners are closely aligned on well locations and a final decision will be taken in early 2018, following a shallow level drilling hazard assessment and sea bottom survey to identify any immediate issues. The initial well designs are completed and a tender process is underway to appoint a drilling contractor and other major suppliers.

The expected timings of the programme, at this stage, are as follows:

-- Final locations to be chosen after the hazards survey has been completed and assessed in Q1 2018

   --     Drilling vessel expected to be mobilised on site in Q2 2018 
   --     IM-6 well spud planned for Q2 2018 
   --     Two well drilling programmes expected to conclude in Q4 2018 

Further details of the primary and secondary targets can be found in the AGM presentation which will be uploaded to our website at www.bowleven.com/investor-relations

ENQUIRIES

For further information, please contact:

Bowleven plc

   Christopher Ashworth, Chairman                               00 44 131 524 5678 

Eli Chahin, Chief Executive

Brunswick Group LLP

   Patrick Handley                                                           00 44 207 404 5959 

Will Rowberry

Cenkos Securities plc (NOMAD)

   Derrick Lee                                                                 00 44 131 220 6939 

Neil McDonald

This information is provided by RNS

The company news service from the London Stock Exchange

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December 13, 2017 05:30 ET (10:30 GMT)