Bowleven has confirmed that it will proceed with the drilling of two appraisal wells in the Etinde reserve in 2018.
The Company said all partners in the JV are closely aligned on well locations and a final decision will be taken in early 2018, following a shallow level drilling hazard assessment and sea bottom survey to identify any immediate issues.
The initial well designs are completed and a tender process is underway to appoint a drilling contractor and other major suppliers.
The expected timings of the programme are as follows: - Final locations to be chosen after the hazards survey has been completed and assessed in Q1 2018
- Drilling vessel expected to be mobilised on site in Q2 2018
- IM-6 well spud planned for Q2 2018
- Two well drilling programmes expected to conclude in Q4 2018
At 2:27pm: (LON:BLVN) BowLeven PLC share price was -0.25p at 29p