Leed Resources Regulatory News (LDP)

18 Apr 2008 07:00

Leed Petroleum PLC18 April 2008 Leed Petroleum PLC ("Leed" or the "Company") Operational Update Leed Petroleum PLC, the oil and gas exploration and production company focusedon the Gulf of Mexico, today announces that drilling operations are now underwayfor the Eugene Island A-7 Well. The well was spudded on 17 April 2008 and will test a development objective aswell as other exploratory zones. The A-7 well is expected to reach total depthin the third quarter of 2008 and the results of the drilling will be announcedin due course. The Eugene Island Blocks are located 50 miles offshore, south of Morgan City,Louisiana in the Gulf of Mexico in approximately 80 feet of water. Leed'smanagement has built an inventory of development projects and explorationtargets across the Eugene Island Block 183/184 Field. Howard Wilson, President and Chief Executive of Leed, commented: "Following the recent success of our A-6 well, we are pleased to announce thecontinuation of the Eugene Island 183/184 drilling programme with the spuddingof the A-7 well. Our technical team has designed a well plan to test multipleobjectives, each of which has the potential to make a substantial impact to theCompany's production." 18 April 2008 For further information: Leed Petroleum PLCHoward Wilson, President and Chief Executive +1 337 314 0700James Slatten, Chief Operating Officer +1 337 314 0700 Matrix Corporate Capital LLPAlastair Stratton +44 20 7925 3300 Pelham Public RelationsAlisdair Haythornthwaite +44 20 7743 6676Evgeniy Chuikov +44 20 3008 5506 NOTES TO EDITORS Operations Leed Petroleum PLC is an AIM quoted independent oil and gas exploration andproduction company. The Company's operations are concentrated in the Gulf ofMexico region where Leed has established a significant portfolio of producingand development assets. The Company has interests in 15 offshore fields and 1onshore field in the region. Leed's strategy is to grow the Company's portfolio through organic developmentof its existing assets and to utilise its regional expertise to identify andpurchase value adding assets. This information is provided by RNS The company news service from the London Stock Exchange