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    Bowen in joint ventures with Bhushan
    09:49, Monday, 25 February 2008

    Sydney - Monday - February 25: (RWE Australian Business News) -
    Bowen Energy (ASX:BWN) has signed two joint ventures with Bhushan Steel
    of India.
    Bowen Energy managing director Kevin Nichol described the JVs as
    a major advance for Bowen in its ambition to become a significant
    Australian coal producer.
    The first JV concerns EPC 1045 and, when granted, EPCA 1206.
    Bowen retains a 15% free carried interest up until the
    commissioning of a mine; including plant, equipment and associated
    infrastructure.
    The second JV concerns EPC 1001 and EPC 1002.
    Bowen retains a 10% free carried interest up until the
    commissioning of any mine, including plant, equipment and associated
    infrastructure.
    From the up to $3.2 million being raised from the recent
    placements, Bowen will allocate $2.4 million towards exploration of the
    JV projects.

 
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