Bowleven holds a 75% equity interest in the Etinde Permit area being three shallow water blocks in offshore Cameroon, West Africa; namely Blocks MLHP 5, MLHP 6 and MLHP 7. Vitol E&P Limited own a 25% interest in the Etinde Permit(acquired following a farm-out transaction with Bowleven: completion announced 17 June 2010). In total, Bowleven has approximately 2,300 km˛ of exploration acreage located across the Rio del Rey and Douala basins in the Etinde Permit. As well as P50 hydrocarbon reserves and contingent resources on Block MLHP 7 the total acreage has very attractive exploration potential. Bowleven also holds a 100% equity interest in the Bomono Permit, offshore Cameroon, extending to approximately 2,328 km² in the Douala/Kribi Campo basin. Bowleven holds its Cameroon operations through its wholly owned subsidiary EurOil Limited. Bowleven also holds, through its subsidiary FirstAfrica Oil Limited, a 100% equity interest in both the East Orovinyare offshore block in Gabon, which contains an existing oil discovery that it is seeking to develop, 50% of the Epaemeno Block (operated by Addax) which is 1,340 km˛ of exploration acreage in onshore Gabon which is situated next to recent discoveries in the adjoining blocks. The Company's focus is on organic growth and selective acquisitions.

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