7 Dec 2015 08:20
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Don't have an account? Click here to register.Leni Gas & Oil sees "excellent production rates" at drilling field
Mon, 01st Sep 2014 13:03
Leni Gas & Oil (LGO) said on Monday its fifth well at the Goudron Field in Trinidad reached its total depth, giving confidence the company will have "excellent" production rates.Well GY-668 was drilled to a depth of 3,026 feet and has been logged and cased.Once approved, wells GY-665 to GY-668 will be placed on production one by one.The Goudron Field is located in the northeastern cost of Venezuela.LGO's chief executive Neil Ritson said: "The fifth well has been successful in meeting its objectives and the rig will shortly be moved off GY-668 and we will start the process of preparing the site for the production. "The pressures we have experienced during the drilling of these wells gives us considerable confidence that we will have excellent production rates."Shares rose 3.33% to 3.72p on Monday at 12:42.JF
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26 Nov 2015 12:31
LGO Energy rebounds after agreement with bank
(ShareCast News) - Trinidad oil developer LGO Energy has agreed to reduced repayment terms with its bank that will allow it to maintain its oil production operations after an unusual drilling accident. The AIM-listed company and BNP Paribas have agreed to an early termination of old pre-paid swap ag
Read more19 Oct 2015 09:11
LGO Energy cash runs dry after drilling misshap
(ShareCast News) - After a costly drilling accident, oil explorer LGO Energy has been prevented from accessing more cash from its bank facility as it has breached its covenants. The AIM-listed company last month reported that well GY-678 in the Goudron Field offshore Trinidad, the last of seven deve
Read more5 Oct 2015 09:19
LGO Energy raises 1m pounds for Trinidad businesses
(ShareCast News) - LGO Energy has raised £1m before expenses through the placing of 111.1m shares at 0.9p per share. The company said the funds will largely be deployed as additional working capital in LGO's Trinidad businesses including initiating work on the recently announced Goudron Sandstone pr
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