Bowleven reported that the Sapele-1ST well drilling in the Douala Basin, offshore Cameroon has encountered a total of 23 meters of net hydrocarbon-bearing pay in the Omicron objectives based on the results of drilling, conventional wireline logs, samples of reservoir fluid and pressure data. A testing program is expected to commence shortly.

Highlights

•23 meters of log evaluated net hydrocarbon pay encountered in the Omicron objectives at Sapele-1ST. •Preparing for testing program at Sapele-1ST. •Sapele-2 well progressing on schedule. Sapele-1ST drilling update The principal objective of Sapele-1ST was to appraise the Deep Omicron oil discovery encountered in the Sapele-1 exploration well. The well was also designed to intersect both the Upper and Lower Omicron objectives.

The well was drilled to a TVD of 3,634 meters (4,483 meters measured depth) in water depths of around 25 meters approximately 2 kilometers South East from the Deep Omicron oil discovery in the original vertical well.

Bowleven, as operator, provides updates for the reservoir sections encountered at Sapele-1ST below:

Upper Omicron 1.4 meters of net pay were intersected overlying approximately 24 meters of high quality reservoir which following sampling was confirmed as water bearing.

Lower Omicron The well has intersected a log evaluated hydrocarbon interval that is interpreted to comprise fair quality thinly interbedded reservoir units. Provisional net pay is estimated to be approximately 11 meters, based on conventional wireline logs, with an average porosity of 17%. Fluid samples acquired during logging activities indicate the presence of light oil/gas condensate as reservoir fluid.

Deep Omicron The well has intersected a log evaluated hydrocarbon interval that is interpreted to comprise high quality thinly interbedded reservoir units. Although less well developed at this location and with a corresponding lower net to gross ratio than the Sapele-1 motherbore, the provisional net pay is conservatively estimated to be approximately 10 meters, based on conventional wireline logs, with an average porosity of 19%. In addition, initial interpretation indicates that certain pay intervals identified in the original Sapele-1 well have been eroded at the Sapele-1ST location. It was not possible to recover, it is believed due to borehole conditions, reservoir fluid samples and pressure data from Deep Omicron. Consequently, pressure communication could not be confirmed from logging activities. The GC tracer however indicates the presence of a light high GOR oil.

Forward plan Further detailed analysis, including test data, is now required to assess the implications of the Sapele-1ST well on current resource estimates. The impending Sapele-2 appraisal well results will also be integral to this process. The Company is now preparing to conduct a drill stem testing program at Sapele-1ST. Following testing the intention is to release the Noble Tommy Craighead rig for a mandatory recertification process.

Due to the stratigraphic nature of the Omicron discoveries further appraisal will be required and is already underway and planned. The Sapele-2 well, intended to appraise both the Lower and Deep Omicron discoveries, is currently drilling with the Vantage Sapphire Driller rig and is expected to take a further 15 to 20 days (excluding testing). The rig is available for up to three well slots after Sapele-2 with the location selection process factoring in both ongoing technical evaluation and well results.

Kevin Hart, Chief Executive of Bowleven plc, commented, "We are pleased with the results so far on Sapele-1ST (sidetrack). The initial log evaluation is encouraging as it endorses the presence of light oil and gas condensate in the Lower and Deep Omicron fairways encountered with the original Sapele-1 well. Preparations are now underway for a testing program at Sapele-1ST to assess connectivity and deliverability. Given their stratigraphic nature, further evaluation, including appraisal drilling, is required to fully understand sand distribution within these tertiary fairways however results to date are promising in the context of Sapele and the Douala Basin as a whole."

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