REG - Bowleven plc - Response to Share Price Movement

BowlevenAnnouncement

21/07/2023 07:00

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RNS Number : 7221G  Bowleven plc  21 July 2023

21 July 2023

 

Bowleven plc

('Bowleven' or 'the Group' or 'the Company')

 

Response to Share Price Movement

 

Bowleven (AIM: BLVN), the Africa focused oil and gas, exploration and
production company with key interests in Cameroon, notes the recent movement
in the price of its shares and confirms that it is not aware of any particular
reason for the sudden increase.

 

In its interim results statement on 30 March 2023, the Company noted that it
had been considering its fundraising options and expects to seek to raise
additional equity capital in 2023 to help to finance the Group's ongoing
corporate activities and to assist financing its share of the future
expenditure as the Etinde project progresses towards FID. Planning for an
equity fundraising has continued since then but is not yet at an advanced
stage and there can be no certainty that a fundraising will be concluded, nor
as to the structure or terms of any such fundraising. The Company continues to
await the completion of the sale by New Age of the 37.5% stake in Etinde to
Perenco and understands that this continues to be progressed by both parties.

 

 

 ENQUIRIES

 For further information, please contact:

 Bowleven plc
 Eli Chahin, Chief Executive                 00 44 203 327 0150

 Camarco (Financial PR)
 Owen Roberts                                00 44 203 757 4980

 Charlotte Hollinshead

 Hugo Liddy

 Shore Capital (NOMAD and Broker)
 Robert Finlay                               00 44 20 7408 4090
 Daniel Bush

 Angus Murphy

 

A copy of this announcement is available on the Bowleven website
www.bowleven.com
(https://url.avanan.click/v2/___http:/www.bowleven.com___.YXAxZTpzaG9yZWNhcDphOm86MzNhMzNjYjE0NWNkMTVkZDUxMDJiZDliNDkzOTA3ZGM6NjphZjc0OjRjYjE5YjM3NDhiNWFiMGQyZDIzNmMyYTRhMDgzNDk1Nzc1YTZjMjk5ZmI4NDBjOTVhZDYxNTAwNmQzZmRkMzg6aDpU)

 

Notes to Editors:

Bowleven plc is an African focused oil and gas group, based in London and
traded on AIM. It is dedicated to realising material shareholder value from
its Etinde asset in Cameroon, whilst maintaining capital discipline and
employing a rigorously selective approach to other value-enhancing
opportunities. Bowleven holds a strategic equity interest in the offshore,
shallow water Etinde permit (operated by New Age) in Cameroon.

 

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