BOWLEVEN has started drilling its first onshore well in Cameroon after experiencing delays with work in the West African country.
The Edinburgh-based oil and gas company said drilling operations have commenced on the Zingana well on the Bomono Permit, around six months after originally expected.
Zingana is the first well in an initial programme of two that Bowleven plans to complete onshore Cameroon. It has focused activity in the waters off the country to date.
The company has noted there have been numerous oil seeps on the Bomono permit but the area is largely unexplored by modern exploration methods.
However, Bowleven has faced complications on Bomono, where it originally hoped to start drilling around the end of 2014.
In January the company said work on Bomono had been delayed by minor logistical issues.
In March Bowleven noted certain mechanical and control issues needed to be addressed by the drilling contractor. Yesterday, the company said: "These issues related to the top drive and the mud pumping system and have now been resolved."
Bowleven said the location of the second well, Moambe, has been prepared for drilling. It expects the rig being used on Zingana will move on to drill Moambe some two kilometres distant.
The bulk of the cost of the wells will be paid by privately-owned Africa Fortesa Corp in exchange for a 20 per cent stake in Bomono, under a deal agreed in June last year.
Bowleven's share is expected to total $13m (£8.5m) to $15m.
The company will be able to fund this by drawing on the proceeds of the $250m stake sale in Cameroon which it also agreed in June last year. This left Bowleven sitting on a big cash pile which it could use to take advantage of opportunities created by the fall in the crude price since the deal was struck.
The deal to sell interests in the Etinde permit offshore Cameroon to the country's New Age and Russia's Lukoil only completed in March.
The deal was originally due to complete on 31 August. The partners extended the deadline for completion three times amid delays in receiving the required approvals from Cameroon's President Biya and authorities in the country.
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