Credit Suisse Energy Summit Vail, Colorado 7-11 February 2011
Opening Remarks 3
Vision & Strategy Vision It is our vision to build an African focused exploration and production company which in time becomes renowned for its ability to consistently create and realise material shareholder value through…
Company Overview Two operating areas: Cameroon and Gabon Company Assets 7 Blocks (5 in Cameroon and 2 in Gabon). 4 offshore shallow water, 3 onshore. 6 operated, 1 non operated. Overall P50 contingent resource base 163 mmboe*…
Company Overview Extensive multi-well programme planned in Cameroon Asset Strategy To move resources to reserves on Etinde Permit (appraisal activity on IE and IF); targeting transfer of 100mmboe (gross). High impact…
Asset Overview Cameroon Etinde & Bomono 7
Cameroon Overview Relatively underexplored - an emerging oil story Rio del Rey Basin Douala Basin MLHP 7. MLHP 5 & 6, OLHP 1 & 2. Shallow offshore area. Onshore and shallow offshore areas. Highly prospective acreage within a…
Cameroon Exploration Recent Douala Basin E&P Activity Seismic Bomono 2D Acq. Bowleven acquired 500km 2D in OLHP-2 (Bomono) during 2010/11. Matanda Glencore acquired 2D in Matanda. (Glencore) Bowleven 658km 3D (mainly Douala…
Regional Geology and Play Types Douala Basin: An emerging hydrocarbon province D-1r (2007), 25mmscfd, Sapele-1 Onshore and offshore Cretaceous rocks outcrop 1400bcpd from 75ft gross mixed Tertiary and at surface within the Miocene…
MLHP-5 Exploration Well Sapele-1 High potential exploration well targeted series of vertically stacked objectives NW Sapele-1 SE Upper Omicron Lower Omicron Tertiary Deep Omicron Cross-Cut Event Cretaceous Epsilon…
MLHP-5 Exploration Well Sapele-1 Miocene fairway delivers exciting discoveries Lower Omicron Deep Omicron Gross hydrocarbon interval of approximately 106m in what are Gross hydrocarbon interval of approximately 64m in high quality…
MLHP-5 Exploration Well Sapele-1 Cretaceous play fairway extended significantly offshore Cretaceous TD interval Drilling Update 10 January 2011 4m log evaluated net pay at Cross-cut objective. Gas condensate encountered at…
Etinde Forward Plan Sapele-1 Forward Plan Due to the stratigraphic nature of the Sapele-1 discoveries further appraisal will be required. Preparing for testing and appraisal to evaluate Tertiary discoveries encountered. Cretaceous…
MLHP 7 IF Field Update Resources to Reserves IF oil discovered August 2008. Average oil flow 3371 bopd, peak spot rate of 4184bopd on choke, 36 API. Bowleven assessment of hydrocarbons in place 225mmbbls STOIIP. Independent…
MLHP 7 IE Field Update Resources to Reserves History Initial Post IE-3 Mapping IE-1 drilled 1981 (Total); encountered dry gas in Biafra and gas/condensate in Isongo Formation. IE-2Z appraisal drilled February 2007 (Bowleven)…
Concept: Combined Phased IE & IF FPSO Synergised Development IE Minimum Facilities Platform FPSO Spread Moored Dynamic Flexible Production Riser and Umbilical Limbe Flexible Multiphase Riser Base Production Flowlines IF…
Bomono Overview Bomono 100% Bowleven. Comprising two blocks covering an area of 2,328km. 5 year first term, expiring December 2012. Existing 2D 285km 2D acquired in Q1 2010 dry season. Further 215km 2D acquired by end January…
Asset Overview Gabon - Epaemeno 20
Epaemeno Overview Epaemeno Dentale Basin 50% Bowleven, 50% farm-out completed April 2007. Dentale Prospects Second exploration term expiry February 2012 following an 18 month extension. Optional third exploration term of three…
Financial Overview 22
Funding Overview Group cash at 31 December 2010 190m. Proceeds anticipated from EOV disposal (35m). Vitol have an option to acquire additional 10% in Etinde Block MLHP 7, for further 50 million (gross) work programme to be…
Closing Remarks Objectives Move discovered hydrocarbons from resources to reserves Further test exploration potential of Douala Basin, Cameroon Overview Extensive exploration and appraisal drilling programme planned on…
Principal Contact: Kerry Crawford Tel: +44 131 524 5678 Kevin Hart Tel: +44 131 524 5678 John Brown Tel: +44 131 524 5678 kerry.crawfordbowleven.com www.bowleven.com Bowleven Plc. 1 North St Andrew Lane, Edinburgh, EH2 1HX,…
Appendices 26
Bowleven Management Team Kevin Hart* Chief Executive Officer Kevin Hart joined Bowleven at the end of 2006 as CEO. Prior to that he was Finance Director at Cairn Energy PLC for over eight years, a role that incorporated board…
Bowleven Management Team Ed Willett* Exploration Director Ed Willett joined Bowleven in 2007 and was appointed to the Board in 2008. He has worked in the oil and gas exploration business for 26 years and has extensive experience…
Bowleven Management Team Peter Wilson* General Counsel / Director A Scottish qualified solicitor and a Director, General Counsel and Company Secretary of Bowleven plc, Peter Wilson joined the Company in April 2005 from McClure…
Company Overview 1995 Company formed. 1998 Awarded Etinde Permit. Key shareholders % held of ISC as at 13th August 2010 (rounded) 2004 Disappointing drilling results. Blackrock Investment Management 15% 2006 New team*…
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