25th Nov 2015 09:17
LONDON (Alliance News) - Africa-focused oil and gas company BowLeven PLC on Wednesday said it has moved to the planned extended test period for its Moambe well at the Bomono permit in Cameroon and is progressing plans to start testing on the Zingana well.
BowLeven said the Moambe well has so far achieved a maximum stabilised flow rate of 7.3 million cubic feet of gas per day, with no signs of depletion during the initial flow period.
As result of this, the company said it will move into the extended test period for the well.
In addition, BowLeven is making progress on its plans to start testing on the Zingana well at Bomono.
"We are pleased with the positive initial flow test results on Moambe which give us increased confidence in the commercial viability of future development plans at Bomono. We look forward to the Zingana test augmenting the results at Moambe and to progressing gas sales negotiations," said Chief Executive Kevin Hart.
Shares in BowLeven were up 0.1% to 24.03 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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