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31 May 2012 07:00
Immediate Release
31 May 2012
Leni Gas & Oil PLC
("LGO" or the "Company")
Drilling Update, Trinidad
LGO today announces progress with workover activities at the Goudron Field in south-eastern Trinidad.
Workover rig Altech-1 was mobilized to the field as planned and has entered well GY-190 and retrieved the down-hole pump. The rig is currently withdrawing the production tubing from the well in order to remove any accumulated sand from the casing prior to re-running the tubing and pump.
Repairs to the pump will be completed later this week and the well will be returned to production. Incremental production of up to 20 barrels of oil per day is anticipated as a result of this work. LGO expects to perform up to 50 similar workovers in the coming months.
LGO is operating through its wholly owned subsidiary Goudron E&P Limited as a sub-contractor to Cameron Oil and Gas Limited pending final transfer of the Goudron Incremental Production Service Contract to the Company which is anticipated shortly.
Competent Person's Statement:
The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Leni Gas & Oil Plc who has over 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.
Enquiries:
Leni Gas & Oil plc
David Lenigas Neil Ritson | +44 (0)20 7440 0645
|
Beaumont Cornish Limited
Nomad and Joint Broker Rosalind Hill Abrahams Roland Cornish | +44(0) 20 7628 3396 |
Old Park Lane Capital Plc
Joint Broker Michael Parnes Luca Tenuta | +44(0) 20 7493 8188 |
Shore Capital
Joint Broker
Pascal Keane +44 (0) 20 7408 4090
Jerry Keen (Corporate Broking)
Pelham Bell Pottinger
Financial PR Mark Antelme | +44 (0) 20 7861 3232 |
Henry Lerwill |
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