Merrill Lynch European Mid-Cap Oils Investor Forum 14-16 April 2008
Management Team Kevin Hart Chief Executive Officer Kevin was previously Finance Director at Cairn Energy PLC for over eight years; a role which incorporated Board responsibility for financial, commercial, legal, risk management…
Ed Willett Exploration Director Ed has 23 years in the oil and gas exploration business with a track record of achievements and extensive experience across a wide variety of petroleum provinces. Ed joined Bowleven in January 2007,…
John Brown Finance Director John was previously the Group Finance Director for Thistle Mining Inc, the Canadian gold mining company. John was a director of British Linen Advisers for four years before joining Thistle Mining. Prior to…
Disclaimer Important Notice Nothing in this presentation or in any accompanying management discussion of this presentation (the Presentation) constitutes, nor is it intended to constitute: (i) an invitation or inducement to engage in…
Vision & Objective Vision: It is our vision to build an African focussed, exploration and production company which becomes renowned for its ability to consistently create and realise material shareholder value through…
Strategy Focus on Africa (with particular emphasis on Gulf of Guinea) Maintain significant exploration positions (including Operatorship) Leverage technical and Cameroon commercial expertise Seek value adding partnerships…
CAMEROON 9 Interim Results Presentation, March 2008
Cameroon Overview Bomono Permit 100% OLHP 1 & 2 2,328 km PSC signed 12 Dec 2007 Rio del Rey Basin First term ends 11 Dec 2012 500km seismic & one well commitment Etinde Permit 100% MLHP 5,6 & 7 2,314 km Douala Basin…
MLHP-7 Overview Isongo Marine Field Discovered by Mobil in 1967 Isongo E Field Isongo C Isongo Marine IE-2/2Z tested 30mmscf/d + 3800bcpd Isongo E Manyikebi Isongo D IF-1 drilled to 6355ft kick on IE-2Z gas gradient…
Biafra channel sands Prograding and aggrading slope Block 7 IE/IF ID IE IF Olistostromes & slope failure processes TWT 2.5 Isongo Sand 1 FWL 7509ft tvdss Isongo Sand 2 Isongo Sand 1 water- wet in ID-1 Ison go…
IF-1r Well Location ESE IF-1r location WNW selected 300m NE IF-1 IF-1r from IF-1 Subsurface location chosen to a) Avoid extensional faulting in volcaniclastic interval b) Have well defined Extensional faulting base…
Block MLHP-7 Isongo Gas Resource GIIP (bcf) CIP (mmbbl) Isongo Marine Field 363 18.0 Isongo E Field 337 47.2 Isongo C Discovery 154 10.5 Isongo D Discovery 20 2.8 Total Discovered Resource 874 78.5 IF structure…
Cameroon Commercialisation Etinde Block MLHP-7 Offshore Cameroon GAS RECYCLING OFFSHORE Sh PROCESSING CONCEPT or el in I-E WHP-PUQ Platform e Limbe 8-Slot Wellhead; Refinery Bridge-linked PUQ; From I-E Fluid…
MLHP 7 Gas Recycling Concept (Gross Basis) P50 Peak Gas Peak Condensate Peak Water Peak Gas Field GIIP Production Production Production Injection Rate (Bscf) (MMscfd) (bbl/d) (bbl/d) (MMscfd) Isongo E 290 90 11,700 500 80 Isongo…
MLHP-7 Front End Studies 2008-2009 Year 2008 2009 Month Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MLHP-7: Front End Studies DRILL IF-1r REVIEW FLOATING/MINI LNG RE-INJECTION…
Cameroon Blocks 5 & 6 Douala basin numerous onshore oil seeps and hydrocarbon occurrences in older wells but no commercial discoveries pre- 3D seismic D-1r drilled and successfully tested 25mmscf/d + 1454bcpd from Miocene aged…
Block 5 Emerging Upside Late Cretaceous basin floor play Play Elements possible analogue of the deepwater Ghana discoveries but in shallow water Wedge/fan shaped depositional unit, thins to N, NE and E Internal geometry indicative of…
Cameroon - Bomono PSC signed December 2007 Attractive fiscal terms Total commitment over 5 years - (8000km aeromagnetics, 4000km aerogravity, 500km 2D seismic, 1 well) Geological sampling and Aero- geophysics programmes to…
Cameroon Next Steps MLHP-7 Gas Condensate Play Chase potential around IE and IF area Drill IF-1r plus drill further appraisal wells MLHP-5 & 6 Oil Play Mature interpretation and understanding of Eocene- Cretaceous…
GABON 22 Interim Results Presentation, March 2008
Gabon Overview Epaemeno Permit Block G4-211, 1340 sq km Second term ends August 2010 (50% relinquishment) Third period expires Aug 2013 Addax (Operator); Bowleven conducting G&G work through to well locations under TSA 10m…
Gabon EOV Field PSC signed for EOV Permit Area in February 2004 EOV Oil Field discovered by Marathon in 1998. Field located 6 miles offshore in 65ft of water 7.4 mmbbls best estimate contingent resource from CPR 24 Interim…
Gabon EOV Development Reservoir development study due for completion in April 2008 Depending on the outcome of this study we may conduct further appraisal/development drilling in 2008. Possible sanction Q2/Q3 2008. The preferred…
EOV Development Management Summary Schedule EOV DEVELOPMENT SUMMARY SCHEDULE FPSO OPTION 2008 2009 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep GENERAL Project Sanction Reservoir Studies…
EOV Topsides 27 Interim Results Presentation, March 2008
Gabon EOV Permit - NW Kowe NW Kowe lead Large rotated fault block straddling block boundary Additional seismic data required to confirm closure and mature drilling location Data trade agreed with Perenco 28 Interim Results…
Gabon - Epaemeno 307km 2D seismic programme to be acquired late June-late August 2008. Focus on northern Terrace margin play and central Davo cluster Additional 300km 2D seismic possible follow on Drilling programme during 2009 or…
FINANCIAL OVERVIEW 30 Interim Results Presentation, March 2008
Financial Overview Healthy balance sheet (current cash position circa 120m post placing) Funded for committed work programme Cash generation route by Q2/Q3 2009 Debt finance capability Farm-out potential FINANCIAL &…
NEXT STEPS 32 Interim Results Presentation, March 2008
Next Steps IF-1r well drilling expected to commence April/May 2008 (potential for up to two further appraisal wells to follow) Exploitation application for MLHP-7 is underway; submission expected by end April 2008 Farm-out…
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