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7 Sep 2009 07:00
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For immediate release |
7 September 2009 |
Leed Petroleum PLC
("Leed" or the "Company")
Operational Update
Leed Petroleum PLC (AIM: LDP), the oil and gas exploration and production company focused on the Gulf of Mexico, today announces an operational update.
Production enhanced at Main Pass 64/65
Installation of a gas lift supply line in the non-operated Main Pass 64/65 Field (Leed: 25% working interest) has been completed and placed in service. Field oil production has nearly doubled to 650 BOPD (gross).
Third party pipeline service disruption at Eugene Island 183/184
Transcontinental Gas Pipeline Company, LLC ("Transco") has informed Leed that it will be performing facility modifications on its line "C" of the Southeast Louisiana Lateral Pipeline near Gibson, Louisiana. These modifications are being made in order to facilitate future routine in-line inspections.
The modification work will require that Transco shut in numerous production facilities on its pipeline system for an estimated 11 days from 8 September 2009, including the pipeline network serving Leed's Eugene Island 183/184 field. Accordingly, the Eugene Island 183/184 field production will be completely shut in during the repair period.
The Company will take advantage of the situation to perform a production enhancing procedure on the A-6 well and will return the field to full production immediately upon the completion of the well and pipeline operations.
For further information please contact:
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Leed Petroleum PLC |
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Howard Wilson, President and Chief Executive |
+1 337 314 0700 |
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James Slatten, Chief Operating Officer |
+1 337 314 0700 |
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Matrix Corporate Capital LLP |
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Alastair Stratton |
+44 20 3206 7204 |
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Tim Graham |
+44 20 3206 7206 |
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Buchanan Communications Ltd |
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Ben Willey |
+44 20 7466 5118 |
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Bobby Morse |
+44 20 7466 5151 |
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Chris McMahon |
+44 20 7466 5156 |
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
bopd - barrels of oil per day
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