Source - SMW
Bowleven, the Africa focused oil and gas exploration group traded on AIM, has received the $15 million cash proceeds payable under the Etinde farm-out transaction with LUKOIL and NewAge.

As at 30 September 2016, Bowleven had circa $100 million cash and no debt.

Under the terms of the Etinde farm-out transaction, Bowleven also has access to a $40 million (net) drilling and testing carry which is expected to cover its share of two appraisal wells on Etinde, with a further $25 million cash receivable on FID.

At 4:26pm: (LON:BLVN) BowLeven PLC share price was -0.37p at 24.63p