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Bowleven Unit Signs Deal to Continue Offshore Drilling in Cameroon

Source: www.gulfoilandgas.com 5/10/2005, Location: Africa

BowLeven Plc ('BowLeven') announces that its 100% subsidiary, EurOil Limited, has signed a drilling contract with GlobalSantaFe International Drilling Corporation ('GlobalSantaFe') to continue its offshore drilling campaign in Cameroon, West Africa.

EurOil has a 100% interest in the Etinde Permit, which comprises three contiguous blocks offshore Cameroon, subject to government participation, which is still to be negotiated. The agreement covers the drilling of two firm wells in the Etinde Permit. Provisional well locations have been identified, but these will be refined following the final interpretation of the new 3D seismic data acquired over the area earlier this year.

The drilling program is scheduled to commence in late September/early October 2005 and will utilise the GlobalSanteFe rig Adriatic IX, currently operating in Gabon.

Philip Rhind, Chief Executive of BowLeven, said: "We are pleased to have secured the Adriatic IX. Our 2005 campaign is on target and, following the preliminary interpretation of the 3D seismic data, the team is currently involved in evaluating the drilling options."



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