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.
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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.