Bowleven chief targets “home-grown cash flow” after Etinde farm-out

Kevin Hart, chief executive of oil and gas firm Bowleven (LON:BLVN) has revealed plans to generate cash flow from the company’s existing portfolio after a recent farm-out deal in Cameroon.

Back in March the business sold 30% and 10% interests in the offshore Etinde permit to LUKOIL and NewAge in return for a total sum of US$250mln.

That’s boosted the rates and allowed the firm to focus on its onshore Bomono permit, also in Cameroon.

Meanwhile early stage exploration activities are underway in Kenya and Bowleven has been awarded exploration blocks in Zambia.