shares in bowleven plc fell thursday after the company said there is material uncertainty about its ability to continue as a going concern and that it expects to raise additional capital in 2023 to help finance its continuing corporate activities shares at 0716 gmt were down 030 pence or 24 at 095 pence the londonlisted africafocused energy company said its forecasts indicate a material risk that it will use up its existing cash resources by the end of 2023 it added that planning for an equity fundraising was at an early stage and that there couldnt be any certainty regarding its conclusion structure or terms the company said that as at feb 28 it had liquid resourcesconsisting of cash and a financial investmentof around 23 million bowleven said 2023 expenditure at the etinde oilandgas joint venture projectwhere it has a 25 equity interestoffshore cameroon is expected to rise the company said for the six months ended dec 31 its pretax loss narrowed to 10 million from 12 million for the first half of fiscal 2022 the company said it had reduced project development activities at etinde and that further expenditurereduction measures had been imposed by the board bowleven didnt report any revenue for the period