LGO.L Share News (LGO)

(ShareCast News) - LGO Energy confirmed on Monday that final approval was granted by the Trinidadian Forestry Department on 10 February to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field in the east of the country.The AIM-traded firm said site clearance work would now start at H18E N4 and final preparations will be made to mobilise rig 18 to the Field.Drilling operations would then commence as soon as the site has been cleared and levelled, and the rig is in the field.Well H18E N4, which is expected to be designated GY-682, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth.LGO said the well is anticipated to be completed for production immediately after drilling operations are concluded, at which point rig 18 would be moved to the second planned location, H18E G11(5)."A delay beyond our immediate control caused some minor slippage in the timing of the planned drilling programme, however, we are very pleased that work is now underway," said executive chairman Neil Ritson."These wells are the first two on a renewed campaign of production well drilling and we are pleased to be able to return to normal operations and to the multi-year development plan we have had in place at Goudron since its acquisition in 2012."