Euroil Cameroon Inc. secures Bomono permit - Cameroon
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Bowleven subsidiary Euroil has been awarded a Production Sharing Contract (PSC) covering the 2,328 sq km Bomono Permit, comprising Blocks OLHP-1 and OLHP-2 and extending into the Douala/Kribi Campo Basin. The license area contains numerous active oil seeps but has not been actively explored since the 1980s. The permit contains 11 wells drilled by Elf-Serepca between 1953 and 1957; seven were dry, three had gas shows and one, Bonomo 101, found wet gas in the Paleocene N'Kapa sandstone which flowed on test from a depth of 1,875m. It would appear none of these wells were able to address the significant oil potential which the company believed to be present. Recent exploration success, particularly in neighboring Equatorial Guinea, suggests a prolific Tertiary play in the Douala Basin. Bowleven may chase the northern onshore extension of this play with its newly acquired Bonomo permit. State company SNH is actively promoting gas exploration and the enactment of the new gas code contains numerous incentives for gas development and production.
This article is extracted from International Oil Letter, Vol 23 issue 51, published 24 December 2007.
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