LGO announces progress on definitive agreements with Beach Oilfield Limited (BOLT) in the Cedros Peninsula of SW Trinidad with the signing of an Exclusivity Agreement, a Consultancy Agreement and Data Agreement.

Neil Ritson, LGO Chief Executive, commented, "Our discussions with BOLT have been very productive and we have various work programme proposals that are advancing in parallel with the contractual framework. The first activity is now expected to be underway in early 2014. Next year will see the first material advances in exploration in the Cedros since the FRM-1 well drilled in 2008 which found oil below 11,750 feet in the Lower Cruse formation."

Tags: Leni Gas & Oil Plc