Bowleven Acquires 50% Stake in Block 11B from Adamantine

UK junior BowLeven has added a new region to its African portfolio as it snapped up a large slice in an onshore Kenyan play. The Aberdeen-based company has farmed into Block 11B by taking 50% from local player Adamantine Energy. The “extensive and highly prospective exploration acreage position” gives BowLeven exposure to a new hydrocarbons province, following on from its position in Cameroon.

The block covers about 14,000 square kilometres encompassing the Loeli, Lotikipi, Gatome and South Gatome basins. “The basins are to the north of the Lokichar Basin where a significant oil discovery has been made in recent months with the Ngamia-1 well,” BowLeven said.

“Analysis of the existing gravity and magnetics and seismic datasets suggest the basins in Block 11B are of similar form to Lokichar and analogous geological plays and petroleum system elements are expected.” BowLeven is to fund an initial work programme of geophysical and 2D seismic, expected to cost around $10 million