Bowleven (LON:BLVN) shares edged higher on Wednesday after it updated on its ongoing well testing programme for the Bomono project, onshore Cameroon.
The Moambe well, on the Bomono permit, has to date flowed at a maximum stabilised rate of 7.3mln cubic feet of gas per day (mmscfd), through a 48/64 choke with a flowing well head pressure of 664 psig.
There have been no signs of depletion during this initial test period, the company added.
Bowleven told investors that, due to the success to date, the programme has now moved into the planned extended well test period. This phase aims to confirm the field’s sustainable deliverability for a gas-to-power development.
Based on initial indications the company believes the well would be capable of delivering around 4 to 5 mmscfd.
The company added that it continues to work on plans for extended well testing of the Zingana well.
Kevin Hart, Cameroon chief executive, said: "We are pleased with the positive initial flow test results on Moambe which give us increased confidence in the commercial viability of future development plans at Bomono.
“We look forward to the Zingana test augmenting the results at Moambe and to progressing gas sales negotiations."
In London, Bowleven shares were up just over 1% changing hands at 24.25p each.