Bowleven farm-out initiative to end in December

The transaction of the farm-out initiative in Etinde by Bowleven Plc, petro-gas group based in Edinburgh will end this year.

The date of closure has however been extended to December 31 as a result of an agreement signed by the various parties for a date extension to December 31, 2014. This was announced on October 28 by the Group of exploration on the oil and gas side in London.

Bowleven began collecting a 50% interest on the Etinde permit in Lukoil and NewAge, with a breakdown of 37.5% for Lukoil and 12.5% for NewAge totaling approximately $ 250 million.

It should be noted however that in Cameroon, Bowleven Plc holds stakes in five blocks, three offshore in shallow water and two onshore.