Bowleven provides IE-3 appraisal well - testing update

Wednesday, Aug 25, 2010

Bowleven, the West Africa focused oil and gas exploration group listed on AIM, is pleased to announce that it has successfully completed its planned testing programme on the IE-3 appraisal well on the Etinde Permit, offshore Cameroon. The testing programme comprised multiple drill stem tests (DST) over various reservoir intervals.

Highlights

• Increased likelihood of commercial development with oil, condensate and gas successfully produced from test intervals

• Measured flow rates per interval ranged from 845 to 11,778 boepd with a cumulative maximum rate of 14,576 bpd of liquids and in excess of 50 mmscfd of gas (total 22,909 boepd)

• Liquids produced were both high quality gas condensate and oil with a range in gravity of 36 to 43 degree API

• Total net pay from IE-3 estimated to be 40 metres (over gross hydrocarbon columns totalling 134 metres)

• Oil discovered highlights additional potential of IE field area and surrounding acreage

• Integration of extensive well data ongoing

• The rig will now be moved to the Sapele-1 exploration well location (MLHP-5, Etinde Permit)

• Further IE appraisal well anticipated in current campaign

IE-3 appraisal well update

The objective of the IE-3 well was to appraise the extent and communication of the upper Isongo reservoir updip of the previous wells drilled on the IE field and also to target the additional exploration potential of the deeper Isongo reservoirs.

The Company announced on 15 July 2010 that the well had been drilled to a final depth of 3,048 metres (10,000 feet) and that it was preparing to conduct a multiple test programme.

Source: Bowleven