Just coming across stuff like this plus never any official documentation to back up any company announcements - unless they had paid for it. Basically no trust of the management. Fortunately, I haven't met the man otherwise I may have become spellbound. LOL
CAMEROON Bowleven in Elf’s Footsteps
Encouraged by recent discoveries on the Equatorial Guinea side of the Douala basin, Bowleven has acquired a gas permit in the region in Cameroon.
When announcing its financial results for 2007 last week, the British junior Bowleven, which controls several licenses in Cameroon, said it had sewed up negotiations which it began last year to acquire the Bomono gas concession in the Douala basin.
Composed of two blocks - OLHP 1 and OLHP 2 - the Bomono license lies partly in the Douala basin. The area was explored by Elf in the 1950s. The French group (since taken over by Total) drilled 11 wells between 1953 and 1957. Seven turned up dry, three identified traces of gas and one - Bonomo 101 - found wet gas that tested at 1,875 cu.m. But Elf, which was looking for oil rather than gas, plugged the well.
Several oil companies recently bought stakes on Equatorial Guinea’s side of the Douala basin. Glencore, for instance, teamed up with Saudi Arabia’s Afex Global last year (AEI 448) to buy the Matanda block (PH 72) which houses the Matanda North gas discovery.
The Bomono license is located on the same geological structure. Bowleven already controls the licenses MLHP-5 and MLHP-6 in the Douala basin.
Further to the south, Bowleven is continuing to develop its MLHP-7 gas license and has just asked the Cameroon authorities for a development permit. In the long run, the group hopes to be able to supply the EG LNG gas liquefaction plant in Equatorial Guinea with gas from Cameroon (Construction of the LNG facility was confirmed by Malabo in early March (AEI 459).
Both Nigeria and Cameroon have penned agreements to supply gas to Equatorial Guinea (AEI 430/444). Total also hopes to sell the gas it produces in Cameroon to EG LNG.
