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Etinde volumes swell for BowLeven

BowLeven has announced a "substantial" increase in the potential hydrocarbon volumes at its Isogo field within the Etinde Permit off the coast of Cameroon.
March 11, 2013

Shares in BowLeven (BLVN) rose by as much as 10 per cent after the Africa-focused oil & gas explorer announced a "substantial" increase in the in-place hydrocarbon volumes at its Isogo field within the Etinde Permit off the coast of Cameroon.

IC TIP: Buy at 85.5p

Based on a 90 per cent (P90) probability rating, BowLeven reported a 315 per cent increase in wet gas at the permit to 531bn cubic feet (bcf). On a less conservative basis, the mean average wet gas and condensate in place increased by 162 per cent and 868 per cent to 1,222 bcf and 184m barrels respectively.