National Extractive Industry Transparency Initiative

BowLeven holds, through its wholly-owned subsidiary EurOil Limited, a 100% equity interest in the Etinde Permit area being three shallow water blocks in offshore Cameroon, West Africa; namely Blocks MLHP 5, MLHP 6 and MLHP 7. In total BowLeven has approximately 2,300 km2 of exploration acreage located across the Rio del Rey basin (part of the southern margin of the Niger Delta oilfield basin) and the Douala Basin (which contains large undrilled seismically identified structures), together referred to as the Etinde Permit. EurOil also has a 100% equity interest in the Bomono Permit, onshore Cameroon, extending to approximately 2,328 km2 in the Douala/Kribi Campo Basin. The Permit covers the onshore extension of the highly prospective Douala Basin, which is characterised by numerous surface oil seeps but is virtually unexplored by modern exploration methods.

"Perenco has operated in Cameroon since 1993, together with ExxonMobil and SNH – Cameroon’s state-owned hydrocarbon company. Perenco’s principal assets in Cameroon comprise: Moudi and Ebome Marine concessions Sanaga Sud gas permit Kombe-Nsepe Exploration Permit As part of an overall programme to optimise production, Perenco is maintaining an active well work-over programme on the Moudi Field with ESP, gas lift, and sand control. Renovations to the VB production platform are also planned to challenge the decline of these mature fields. At Ebome Marine, Perenco has constantly challenged the decline of the marginal fields by pushing for an aggressive programme of satellite developments. Following the intial KF development in 1997, the KB field has been developed in 2004, followed by BAF-3 in 2006, which has exceeded all forecasts by producing in excess of 4mmstb. On Kombe-Nsepe, Perenco is pursuing an ambitious Exploration Programme with two wells featuring HPHT characteristics. This makes Perenco a leader in terms of onshore exploration in the country. In 2008 Perenco and state company SNH signed the first ever upstream Gas Sales Agreement on Sanaga to produce gas for an onshore power plant.

"The Cameroun Ntem contract area was signed in March 2001 with Ministerial degree given in September 2002. The Ntem permit covers 2,319km2 and is located in water depths ranging from 200m to 2,000m. The Ntem permit is situated in the southern Douala/Rio Muni Basin and lies adjacent to the northern border of Equatorial Guinea. This area was the focus of considerable industry attention following the 1999 Triton discovery of the deepwater Ceiba field, in Block G and a series of subsequent discoveries. During 2001 and early 2002, four further inboard discoveries were made to the north of the Ceiba field, all based on the use of seismic attributes to predict the presence of hydrocarbons in subtle stratigraphic traps. These successes served to highlight prospectivity in this part of the Gulf of Guinea. Interest has been further bolstered by drilling a short distance to the north, specifically Conoco-Phillips Coco Marin oil discovery (2003), and several recent gas condensate discoveries in Tertiary reservoir systems. "