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11 Dec 2008 07:00
LENI GAS & OIL PLC
11 December, 2008
MONTHLY PRODUCTION UPDATE - NOVEMBER
Leni Gas & Oil plc (LGO), the AIM listed international oil and gas exploration, development and production company, today gives its monthly production update for November.
During November monthly production totalled 4897 barrels of oil equivalent (boe) excluding the interests in the US Gulf of Mexico and Lower 48. The monthly production update from all countries of operation is summarised as follows:
Spain
The Ayoluengo Oilfield (100% LGO) in northern Spain, through LGO's 100% ownership of Compañia Petrolifera de Sedano, S.L. produced net to LGO 2,771 barrels of oil (bbls) and 1.116 million standard cubic feet (mmscf) of gas during the month. Net LGO production in barrels of oil equivalent (boe) totalled 2968. Production was almost 10% higher on the previous month as some of the wells intervened for the first phase stimulation program were returned to production. Full field production will be resumed in early December. Results to date indicate that the first phase stimulation program is very successful.
Trinidad
The Icacos Oilfield (50% LGO rights) located on the Cedros Peninsula of Trinidad, through LGO's 100% ownership of Eastern Petroleum (Australia) P/L produced gross 800 barrels of oil (bbls) during the month. The Oilfield produces no gas. Net LGO production in barrels of oil equivalent (boe) totalled 400.
Hungary
The Penészlek Gasfield (7.27% LGO) in eastern Hungary, through LGO's 7.27% ownership of PetroHungaria Kft produced net to LGO 8.42 million standard cubic feet (mmscf) of gas and 1 barrel of condensate during the month. The Gasfield produces no oil. Net LGO production in barrels of oil equivalent (boe) totalled 1489. The interests in ZalaGasCo Kft (14.74%) LGO) in western Hungary will be announced in due course.
US Gulf of Mexico & Lower 48
The interests held by Byron Energy (28.94% LGO) in the US Gulf of Mexico and Lower 48 will be announced in due course.
David Lenigas, Executive Chairman, commented:
""November reported a small increase above the production schedule of October with production from Spain steadily increasing above historical levels as the wells intervened for the successful stimulation program in October were gradually returned to production. Hungary and Trinidad both delivered similar volumes as last month.
"Full production increase results from the first stage of our Ayoluengo stimulation program in Spain are showing a dramatic step change to the historical production and will be reported in mid December."
Competent Person's Statement:
The technical information contained in this announcement has been reviewed and approved by Fraser S Pritchard, Director of Operations for Leni Gas & Oil Plc (member of the SPE) who has 20 years relevant experience in the oil industry.
Enquiries:
Leni Gas & Oil plc
David Lenigas, Executive Chairman
Tel +44 (0) 20 7016 5103
Beaumont Cornish Limited
Roland Cornish / Rosalind Hill Abrahams
Tel +44 (0) 20 7628 3396
Mirabaud Securities Limited
Rory Scott
Tel +44 (0) 20 7878 3360
Pelham PR
Mark Antelme
Tel + 44 (0)20 3178 6242
NOTES TO EDITORS
Leni Gas & Oil Plc is an international oil and gas exploration, development and production company headquartered in London, trading on the London Stock Exchange's AIM index. The Company has assets in the US Gulf of Mexico and Lower 48, Spain, Trinidad, Hungary and Malta. LGO's strategy is delivering growth through the acquisition of proven reserves and the enhancement of producing assets in low risk countries.
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