Dear Carol;
You can't go all the way from Bishop to Lone Pine on the Owens due to diversions. Basically, you can get a kayak/canoe from just north of Bishop to and area near Big Pine. South of Big Pine you have a reservour (sorry, I know spelling is off!) and dam.
The part of the Owens with the new water releases begins at Independence. So no matter what the final water flows are like, you will have to take out around Big Pine and Put-in near Independence - and it looks like the best take out will be somewhere just north of the 136 bridge.
I am going to take and old 10 ft rotomold for a go along with a friend from Elevation in Lone Pine, and as soon as we can get a common date for the try out, will report back on what we find - i.e what portions are "navigable".
Regards, Keith