LONDON (Alliance News) - Leni Gas & Oil PLC on Thursday said it has agreed to buy a licence for a Full-Tensor Gravity Gradiometry on the onshore Southern Basin of Trinidad.
Leni said the survey will be acquired as part of a multi-client survey by ARKeX Ltd. It will focus on the Cedros Peninsula, where Leni holds around 10,900 gross acres of petroleum leases.
The company said it expects the survey to start before the end of 2014 and said it will take around six weeks. The initial processed results are set to be released in the first quarter of 2015.
"We are pleased to work with our colleagues at ARKeX to ensure that this survey is acquired," said Leni Chief Executive Neil Ritson.
Leni shares were down 1.0% to 5.05 pence on Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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