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Leni and Praxair still talking

Thu, 17th Mar 2011 16:22

AIM-listed Leni Gas & Oil underwhelmed the market with an operational update Thursday, though the statement did not contain any obvious bad news.The company said the planned work programme on its Spanish wells is about to kick off. All necessary equipment for the programme of well recompletion is under contract and field operations will commence imminently.Following the planned work over programme in Spain production is expected to increase to at least 300 barrels of oil per day (bopd) and is hoped to reach in excess of 500 bopd.The company is still involved in discussions with US operator Praxair over plans to test nitrogen to enhance oil recovery, and the commencement of field operations is now expected in the third quarter of 2011.