Bowleven reveals progress on oil exploration in Zambia and Kenya

5th Dec 2013 07:26

Africa-focused oil and gas company Bowleven announced on Thursday that it has made headway with exploration in Zambia and Kenya. In Zambia, the group has been notified by the Ministry of Mines, Energy and Water Development that bids for exploration blocks 25, 28 and 29 have been successful.Bowleven has now applied for the Petroleum Exploration Licenses over the three blocks and expects confirmation of the award from the Zambian Ministry in "due course".The three blocks, which lie in the Luangwa Rift Valley, comprise a major north-east to south-west trending rift basin and regional evidence suggests that the critical elements of a petroleum system are present. The initial exploration period includes a minimum committed work programme estimated at approximately $500,000.In Kenya, an airborne geophysical survey over Block 11B is mostly complete and the company said the initial results are "very encouraging".Planning for seismic operations and the associated tender process are ongoing and the acquisition of seismic is expected to commence in the first half of 2014."We are delighted to have potentially secured exploration acreage in Zambia, expanding our significant exploration portfolio beyond Cameroon and Kenya," said Chief Executive Officer, Kevin Hart. "We are also pleased that Block 11B continues to provide very encouraging results and we look forward to the commencement of the seismic programme." RD