Bowleven, the Africa focused oil and gas exploration group traded on AIM, is pleased to announce that it has signed a conditional Heads of Terms (HOT) with Aminex PLC (Aminex) for the acquisition of a 25% interest in the Kiliwani North Development Licence (KNDL) and a 50% interest in the Ruvuma PSA, in Tanzania.

The proposed transaction is in line with the Group’s strategy of focusing on opportunities in Africa which have the potential to create material shareholder value, whilst maintaining a robust balance sheet and strong capital discipline. Consistent with this, this opportunity offers high quality near-term production and cashflow, alongside significant exploration/appraisal upside, located near existing infrastructure, enabling low cost rapid development and monetisation of discovered resources.

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