LONDON (Alliance News) - Leni Gas & Oil PLC Monday said well GY-668, the fifth of its planned 30 new development wells at Goudron Field in Trinidad, and the fourth well from the current drill pad, has reached a total depth at 3,026 feet measured depth.
The well has now been logged and cased to total depth.
Leni Gas said based on analysis of the electric logging, the well appears to contain 254 feet of net oil pay in the Gros Morne Sandstones, the primary target of the well, in addition to the 191 feet of net oil pay in the Goudron Sandstones, which was previously announced.
Once all necessary approvals have been obtained the wells GY-665 to GY-668 will be placed on production one by one. The rig will be moved to the next drilling pad to commence the drilling of the next four development wells, the company said.
Leni Gas & Oil shares were quoted up 2.2% at 3.68 pence Monday morning.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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