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8 Oct 2008 07:00
LENI GAS & OIL PLC
8 October, 2008
MONTHLY PRODUCTION UPDATE - SEPTEMBER
Leni Gas & Oil plc (LGO), the AIM listed international oil and gas exploration, development and production company, today gives its monthly production update for September.
During September monthly production totalled 5,302 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 produced net to LGO 3,262 barrels of oil (bbls) and 1.210 million standard cubic feet (mmscf) of gas during the month. Net production in barrels of oil equivalent (boe) totalled 3,476.
Trinidad
The Icacos Oilfield (50% LGO) located on the Cedros Peninsula of Trinidad produced net to LGO 300 barrels of oil (bbls) during the month. The Oilfield produces no gas. Net production in barrels of oil equivalent (boe) totalled 300.
Hungary
The Penészlek Gasfield (7.27% LGO) in eastern Hungary produced net to LGO 8.63 million standard cubic feet (mmscf) of gas and no condensate during the month. The Gasfield produces no oil. Net production in barrels of oil equivalent (boe) totalled 1526.
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. Further to the announcement on 06 October 2008 by Leed Petroleum ("LDP") that testing on the A-7 well in the Eugene Island field, US Gulf of Mexico, has achieved rates that equate to 4,012 barrels of oil equivalent per day, the net LGO production from Eugene Island shall significantly increase the production schedule.
David Lenigas, Executive Chairman, commented:
"September saw a near 15% increase from August for the company's production schedule with increasing production from the Penészlek Gasfield in Hungary and the Ayoluengo Oilfield in Spain. Trinidad expectedly delivered lesser volumes due to planned well intervention activity,
"We anticipate a slight reduction in production during October with the execution of our Ayoluengo stimulation program in Spain deferring about 15% production for approximately two weeks on some of our active wells. However in November we are forecasting a significant step change in production from Spain as the well productivity improvements, targeted by the stimulation program, are increasingly realised."
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
Pelham PR
Mark Antelme
Tel + 44 (0)20 3178 6242
Henry Lerwil
Tel +44 (0)20 3178 6240
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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