Bowleven says that the Sapele-1 exploration well drilling in the Douala Basin, offshore Cameroon has been drilled to a total depth (TD) of 4,733 metres. Drilling was halted due to technical limitations after encountering a high pressure gas reservoir in the Cretaceous. The bottom hole section has been cemented and is now being abandoned in advance of planned appraisal drilling.

Update • Oil, condensate and gas confirmed as present in the Cretaceous and the well may now have encountered a significant hydrocarbon column at TD. • Proposed forward plan includes appraisal drilling and well testing to further evaluate Tertiary discoveries. • Additional rig secured for drilling up to four wells on the Etinde Permit; expected on contract towards end February 2011.

Drilling update The Sapele-1 well location was selected to intersect multiple independent exploration targets from the proven Tertiary fairway down to the deeper Cretaceous fairway from a single location.

On 10 January 2011, Bowleven advised that further Cretaceous targets had been identified beneath the original planned target depth of the well (4,450 metres) and the plan was to deepen the well. The well was drilled to a TD of 4,733 metres before drilling was halted due to a rapid influx of very high pressure gas. Consequently, logging of the interval was not possible and the bottom hole section is being abandoned. Based on an initial analysis of the major step change in pressure encountered and the interpretation of the seismic, it is considered that the well may have encountered a significant hydrocarbon column in the Cretaceous.

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