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Leed, Leni: GoM production way up


Published Feb 25, 2009
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Leed Petroleum declares award of lease

Leed Petroleum and indirect stakeholder Leni Gas & Oil have confirmed the A-6 well re-completion at Eugene Island has driven production up dramatically to some 6,000 barrels of oil equivalent per day.

The well's primary zone started testing on 16 February 2009 and, following a clean-up period, has consistently flowed to sales at a stable restricted rate of 1,750 boepd. Just prior to re-completion, the A-6 well flowed at approximately 500 boepd.

Leni owns its interest in the Leeds-operated Eugene Island acreage via a 29 percent stake in Byron Energy Pty. Ltd. The new gas was all good news for junior company Leeds "with no debt and increasing profitable production (800 boepd)" from the GoM and Trinidad to Spain and Hungary.




   

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