BOWLEVEN has extended its farm-out agreement with Victoria Oil and Gas on the Bomono field in Cameroon as discussions continue with the Cameroon Government on how best to proceed with production plans.

The developer, which was embroiled in a boardroom battle for most of 2017, said discussions were ongoing but did not signal how long the farm-out agreement has been extended for.

Signing the agreement in March 2017 de-risked Bowleven’s funding obligations, however the new board believes the terms of that agreement have “limited financial value”.