Bow Energy Limited (ASX:BOW) Second Core Hole In Norwich Park Block Intersects Over 77 Metres Of Gassy Coals

Brisbane, May 20, 2010 AEST (ABN Newswire) - Bow Energy Limited (ASX:BOW) (PINK:BOWYF) are pleased to provide a progress report on the drilling program currently underway in the Norwich Park block (ATP 1031) located approximately 300 km north-west of Gladstone, Queensland.

The second well in its 100% owned Norwich Park block, VM-2, has intersected 77 metres of gassy coal to a depth of 806 metres including 30.8 metres of coal from the Fort Cooper coal measures and 46.2 metres of coal from the Moranbah coal measures. VM-2 is located 9 kilometres to the southeast of VM-1 which intersected over 52 metres of net gassy coal. Early gas desorption results from both wells indicate the potential for very high gas contents and gas saturations including bright fractured coals suggesting good permeability.

The impressive drilling results in the first two wells in the Norwich Park block combined with recent substantial GIP (gas in place) external estimates of over 13.8 Tcf and currently certified reserves in Bow's more advanced CSG fields, has further justified a significant increase in gas reserves targets for 2010 and 2011, to more than 6,200 PJ of 3P and 1,250 PJ of 2P now being targeted by the end of 2011. For the end of 2010, Bow has increased its 3P target to 4,128 PJ.

Based on the positive drilling results, Bow is now currently planning an appraisal drilling program on this new exciting CSG discovery in the Norwich Block with the intention to accelerate its reserves certification program. Bow is fully funded to support the required drilling and testing programme to achieve the end of 2011 3P and 2P reserves targets.

Commenting on the drilling result, Bow's CEO John De Stefani said: "We believe this is one of the thickest total net coal encountered in the Bowen Basin and given the potential size of the discovery, Bow will accelerate the appraisal program for this area. This result enhances Bow's confidence in delivering the increased gas reserve targets".

Summary of drilling results to date:
---------------------------------------------------------------Well Spud Date Total Coal Current Status Intersected ---------------------------------------------------------------VM-1 20/12/09 52 metres Core drilling completed to total depth of 785 metres.---------------------------------------------------------------VM-2 17/04/10 77 metres Core drilling completed to total depth of 806 metres. Wire logging underway.--------------------------------------------------------------- For the complete Bow Energy annoucement including tables, please view the following link:

http://www.abnnewswire.net/media/en/docs/62909-ASX-BOW-220791.pdf

Contact

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