Bow Energy Limited (ASX:BOW) Further Well Spudded Near Cuisinier Oil Discovery

Brisbane, Nov 3, 2010 AEST (ABN Newswire) - Bow Energy Limited (ASX:BOW) (PINK:BOWYF) are pleased to announce commencement of drilling of the Barta North-1 well located 4.2 kilometres west-south-west of the Cuisinier-1 producing oil field which is continuing to produce at approximately 400 barrels of oil per day.

Given the strong oil flow rates of Cuisinier1, the ATP 752P Joint Venture agreed to test a nearby step out structure comprising the Barta North-1 well location. ATP752P is operated by Santos Ltd (ASX:STO).

In addition to the Barta North-1 well, the Joint Venture has approved the further appraisal of the Cuisinier oil field. The Cuisinier Appraisal-A well will be drilled as a 450 metre step out to Cuisinier-1. The Cuisinier Appraisal-A will be drilled immediately following the Barta North-1 well. Both Barta North-1 and Cuisinier Appraisal-A are scheduled to be drilled prior to year end 2010.

Bow is fully carried for the drilling costs of both wells and will retain 15% of the Barta Block after farmin work is completed.

Commenting on the commencement of additional oil wells, Bow's CEO John De Stefani said: "Given the pleasing sustained oil production rate from Cuisinier-1 well, we are keen to progress further appraisal and development in vicinity of the Cuisinier oil discovery. Cash flows from the oil projects will supplement the company's very promising Bowen and Surat basin coal seam gas projects."

Contact

John De Stefani CEO - Commercial Bow Energy Limited Tel: +61-7-3238-6300 http://www.bowenergy.com.au Vic Palanyk COO - Chief Operations Officer Bow Energy Limited Tel: +61-7-3238-6300 http://www.bowenergy.com.au