Bowleven's Cameroon well reveals more oil
Edinburgh oil explorer Bowleven has said it has found more oil at a well off the coast of Cameroon.
The company said most of the hydrocarbons were found in the deeper parts of the Sapele-1 well in the Douala Basin.
The increase in the estimates from the African operation sent Bowleven's share price higher.
The company said the Sapele-1 well had the "potential to be transformational".
Bowleven runs its Cameroon operations through its wholly-owned subsidiary EurOil Ltd.
Kevin Hart, chief executive of Bowleven, said: "2010 has been an exciting year for Bowleven. As we enter 2011 the ground-breaking Sapele-1 exploration well continues to excite and highlights the potential of the Douala Basin."
He added: "The momentum is continuing to build in our operations in Cameroon and 2011 promises to be our busiest year yet with an extensive exploration and appraisal programme planned."