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HYDROCARBONSPO.Box 93 - DOUALATel. (237) 233 43 72 72 Fax. (237) 233 43 71 93www.bowleven.com134LES ATOUTS ECONOMIQUES DU CAMEROUNEUROIL LIMITEDEurOil is the pioneer indigenous Cameroonian company engaged in oil and gas exploration both offshore on two permits, the offshore ETINDE Permit, straddling the coastlines of the Littoral and South West, and the onshore block called Bomono, located onshore and covering the Wouri, Nkam and Moungo Divisions of the Littoral Region...Worth mentioning is the fact that EurOil is repre- sented on the international scene through our hol- ding company Bowleven plc based in the United Kingdom, and listed on the London Stock Exchange since 2005.OUR ACTIONSSince 2004, more than 13 wells have been dril- led within the Etinde Permit, from where we dis- covered gas, condensate and oil. Following independent auditing, the mean reserves of the Etinde Permit are now valued at 1,164 million barrels of oil equivalent (boe).In fulfilment of PSC obligations for the Bomono Block, EurOil conducted an airborne survey in early 2009 and an extensive campaign to acquire 2D seismic data between 2010 and 2011. Preliminary interpretation of the acquired seismic data has encouraged the company to plan for 2 wells to be drilled during the exploration phase.OUR VISIONEurOil’s vision for Cameroon’s energy sector is mainly focused on projects which stand to directly benefit our country. Apart from our dream of contri- buting in boosting Cameroon’s oil production when we move on to the exploitation phase, we are also in discussions with the National Hydrocarbons Corporation (SNH), who is planning to construct a fertilizer plant in Limbe in partnership with Ferrostaal, a German company in the near future. A memorandum was signed in April 2012 bet- ween EurOil, SNH and Ferrostaal for the supply of 70 mmscfd of gas for the said fertilizer plant. Regarding our third product condensate, which is mixed with the crude oil before the refining process SONARA will be the obvious taker. It is worth noting that SONARA currently imports condensate from Nigeria, Equatorial Guinea and Turkey.All these projects for monetizing our hydrocar- bons resources are expected to come to fruition once the State grants EurOil an Exploitation License, for which an application has been depo- sited at the end of 2012.In a nutshell, Cameroon’s gas resources, if exploi- ted in an optimal and well-coordinated manner, could serve as a catalyst in getting the nation on the way to emergence come 2035, in line with the vision of the Head of State, President Paul Biya.During our past projects, thousands of Cameroonians have benefitted from both perma- nent and temporary employment. More than ten thousand are estimated to be employed during the development phase. Universities have been recipients of pedagogic material or internship of their students, with the objective of bridging the gap between the business world and academia.In full corporate responsibility, EurOil stands ready to contribute towards this, for the benefit of Cameroonians and stakeholders nChief Tabetando Founder, Executive Chairman

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