28th Nov 2013 11:57
LONDON (Alliance News) - Leni Gas & Oil PLC Thursday said it is working with authorities to complete final approvals for drilling the first new wells at the Goudron Field in Trinidad.
The exploration and development oil and gas company, with operations in Spain and Trinidad, said each of the first two wells is planned to drill to a total depth over 3,500 feet and each will target known productive intervals.
Leni Gas &Oil has so far reactivated 58 wells of the 90 or so available wells at the site and are on schedule to bring on stream a further 10 wells by early 2014.
The company said that the new wells should greatly increase production and present by far the greatest potential for production enhancement in the short to medium term.
Leni Gas & Oil shares were down 3.3% to 0.746 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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