Bowleven drilling disappoints

20th Apr 2011 11:46

Shares in Bowleven dived after the AIM-listed oil explorer announced drilling results from the Sapele-1ST well offshore Cameroon. The well encountered a total of 23 metres of net hydrocarbon-bearing pay, Bowleven said."The initial log evaluation is encouraging as it endorses the presence of light oil and gas condensate in the Lower and Deep Omicron fairways encountered with the original Sapele-1 well," chief executive Keven Hart said. "Preparations are now underway for a testing programe at Sapele-1ST to assess connectivity and deliverability."---RG