FURTHER tests by Edinburgh oil and gas group Bowleven have raised expectations of the hydrocarbon potential of its Isongo Marine field off Cameroon.
Shares in the Edinburgh group, which holds significant equity interests in onshore and offshore acreage in Cameroon and Kenya, soared 11% after the latest assessment.
The company said the results represent a material volume addition and confirm the IM-5 well offers "more than sufficient gas volumes" to meet the requirements of a $1 billion fertiliser plant that the government in Cameroon is looking to build.
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