LGO.L Share News (LGO)

Drilling has begun at Leni Gas & Oil's seventh planned development wells at the Goudron Field in Trinidad, it announced on Wednesday.Well GY-670 is planned to test the Goudron and Gros Morne Sandstone reservoirs to a total depth (TD) of at least 3,100 feet and will be deviated approximately 600 feet northwest from the surface location. The sixth new Goudron well, GY-669 is ready for completion as a production well, it added. The completion of GY-669 will be undertaken when Well Services Rig 20 is moved from the drill pad, which is currently anticipated to occur in late 2014.Chief executive Neil Ritson said: "Well seven is now underway and we are analysing the results of well number six, GY-669, which is another successful well with considerable net pay. Reservoir pressures [was] the highest we have yet seen, and this may have major benefits for future production from this part of the field."