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Gabon: Perenco acquires Bowleven's EOV permit

Perenco SA has completed the purchase of a 100% equity interest in the EOV permit offshore Gabon from Bowleven PLC for $38.6 million including a working capital adjustment.

Bowleven said the sale will provide it with additional working capital to progress its dual objectives of converting resources to reserves and further exploring the Douala basin in Cameroon. Including the sale proceeds, net cash balance is $160 million.

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