Leed Resources Regulatory News (LDP)

2 Nov 2009 07:00



Leed Petroleum PLC

("Leed" or the "Company")

Eugene Island A-7 Well Update

Leed reports restored production from the Eugene Island A-7 well

Leed Petroleum PLC (AIM: LDP), the oil and gas exploration and production company focused on the Gulf of Mexico, is pleased to announce that it has completed wire-line operations on the Eugene Island A-7 well and returned it to production. Well tests indicate a gross production rate of 3.1 mmscfd, 458 bopd (combined 977 boepd) and zero water production through a 15/64" choke with a flowing tubing pressure of 7,500 psi.

Commenting, Howard Wilson, Chief Executive Officer of Leed said:

"We are pleased to have restored production from the A-7 well at Eugene Island and continue to observe the Company's average daily production increase following the shut in during September 2009."

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NOTES TO EDITORS

Review by a qualified person

The information contained in this announcement has been reviewed and approved by Chris Thompson, Manager of Business Development at the Company, BSC GradDip, who is a reservoir engineer (SPE) with over 17 years experience within the sector.

Operations

Leed Petroleum PLC is an AIM quoted independent oil and gas exploration and production company. The Company's operations are concentrated in the Gulf of Mexico region where Leed has established a significant portfolio of producing and development assets. The Company has interests in 16 offshore blocks and 1 onshore field in the region.

Leed's strategy is to grow the Company's portfolio through organic development of its existing assets and to utilise its regional expertise to identify and purchase value adding assets.

Glossary

boepd - barrels of oil equivalent per day, calculated on the basis of six thousand cubic feet of gas equals one barrel of oil

bopd - barrels of oil per day

mmscfd - millions of standard cubic feet of gas per day