London-listed West African specialist Bowleven has extend its exploration scope in Cameroon and gained approval to a 50% farmout with Addax Petroleum.
Permission has been granted to Bowleven to take control of two onshore permit areas under a new production sharing contract through its subsidiary Euroil Ltd covering 2,328 sq. km of territory where oil and gas seeps have previously been detected but which has not been explored for 20 years.
Also Bowleven has been given a permit to extend its existing Etinde permit area by 18 months to September 2009 while authority has been granted for a 50% farmout to Addax Petroleum of equity in the Epaemeno production contract area in Gabon. Thursday, December 13, 2007
CVI Price at posting:
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