Bowleven finds oil in Cameroon

British oil explorer Bowleven said it found more oil at a key exploration well off the coast of Cameroon and increased its oil-in place estimates, sending its shares up two per cent. The Africa-focused company said most of the hydrocarbon-bearing targets were found in the lower and deep regions of the Omicron part of the Sapele-1 well. It increased its oil-in-place estimates for a section of the Deep Omicron to 65-430m barrels. The well confirmed the presence of reservoir and hydrocarbons in the offshore Douala Basin, extending the shallower cretaceous play significantly offshore, the company said.