LENI GAS & OIL PLC : Gulf of Mexico Drilling Update
02/17/2012 | 04:26am
RNS Number : 5904X
Leni Gas & Oil PLC
17 February 2012
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Immediate Release, 7 am
17 February 2012
Leni Gas & Oil PLC
("LGO" or the "Company")
Gulf of Mexico Drilling Update
Leni Gas & Oil plc today confirms the commencement of
drilling operations with the Ocean Columbia jack-up rig at
the Eugene Island Field in the US Gulf of Mexico.
Further to the brief delay announced on 7 February, the
rig has now been moved from its previous operations at Eugene
Island-51 to Eugene Island-184 (EI-184). The rig is now
stationed over the EI-184 platform in approximately 88 feet
of water and the legs have been lowered ready to commence
operations to side track the well from a depth of
approximately 7,600 feet.
The current operation, A-2ST01, is to sidetrack the
existing A-2 well, in order to intersect with the Tex-X2
sandstones reservoirs. Drilling and evaluation is estimated
to take three to four weeks. If successful, the well will be
completed for production. The target fault block has an
estimated mean recoverable reserve of 0.5 million barrels of
oil within the Tex-X2 target level at a depth of
approximately 13,000 feet subsea. A second sidetrack is also
expected to be undertaken to the deeper Tex-X3
reservoir.
LGO holds a 7.25% working interest in the EI-184 and
adjacent leases which are operated by Marlin Energy LLC. A
further announcement will be made once the well has been
evaluated.
Competent Person's Statement:
The information contained in this announcement has been
reviewed and approved by Neil Ritson, Chief Executive Officer
and Director for Leni Gas & Oil Plc, who has 35 years of
relevant experience in the oil industry. Mr. Ritson is a
member of the Society of Petroleum Engineers, an Active
Member of the American Association of Petroleum Geologists
and is a Fellow of the Geological Society of London.
Enquiries:
Leni Gas & Oil plc
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David Lenigas
Neil Ritson
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+44 (0)20 7440 0645
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Old Park Lane
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Michael Parnes
Luca Tenuta
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+44(0) 20 7493 8188
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Shore Capital
Pascal Keane +44 (0) 20 7408 4090
Jerry Keen (Corporate Broking)
Pelham Bell Pottinger
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Mark Antelme
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+44 (0) 20 7861 3232
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Henry Lerwill
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Beaumont Cornish Limited
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Rosalind Hill Abrahams
Roland Cornish
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+44(0) 20 7628 3396
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This information is provided by RNS
The company news service from the London Stock
Exchange
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