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27 Feb 2017 07:00
For Immediate Release, Embargoed until 7 am
27 February 2017
LGO ENERGY PLC
("LGO" or the "Company")
Drilling Update, Trinidad
LGO can today confirm that Rig#18 has now been successfully mobilised to the Goudron Field where it has been contracted to drill at least two infill wells to the Mayaro Sandstone reservoir. Drilling operations are now expected to commence in the next week.
As previously announced, the first well, H18E N4, which is expected to be designated GY-682 at spud, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth and the well is anticipated to be completed for production immediately after drilling operations are concluded.
Enquiries:
LGO Energy plc | +44 (0) 203 794 9230 |
Neil Ritson | |
Fergus Jenkins | |
Beaumont Cornish Limited | +44 (0) 20 7628 3396 |
Nomad | |
Roland Cornish | |
Rosalind Hill Abrahams | |
FirstEnergy Capital LLP | +44 (0) 20 7448 0200 |
Joint Broker | |
Jonathan Wright | |
David van Erp | |
Glossary:
pay and net pay | a reservoir or portion of a reservoir formation that contains economically producible hydrocarbons. The overall interval in which pay sections occur is the gross pay; the portion of the gross pay that meets specific criteria such as minimum porosity, permeability and hydrocarbon saturation are termed net pay |
Mayaro Sandstone | alternative name for the Goudron Sandstones occurring at stratigraphic intervals above the pre-Mayaro unconformity |
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