Leni Gas & Oil is pleased to confirm that well GY-665 has been cased to a depth of 2,736 feet and that petrophysical analysis of the electric logs run to total depth have indicated the presence of a total of 526 feet of net oil pay; 270 feet in the Goudron sandstone and 256 feet in the Gros Morne sandstone.

Neil Ritson, the Company's Chief Executive, commented:"Based on the observed pressures and the extent of the pay we are confident that well GY-665 will have similar production characteristics to the recently completed GY-664 well which is now flowing naturally to tank at a stable pressure of 540 psi through a 6/32-inch choke. Spudding of the third well is likely within the next few days."

Tags: Leni Gas & Oil Plc