14th Sep 2009 07:00
LENI GAS & OIL Plc
("LGO" or "The Company")
14, September 2009
Appointment of New Technical Service Providers
Leni Gas & Oil plc ("LGO") the AIM listed international oil and gas exploration, development and production company announces today that Eclipse Petroleum Technology Ltd ("Eclipse") and Equipoise Solutions Ltd ("Equipoise"), the international oil & gas consultancy companies have been appointed as engineering services suppliers to support LGO worldwide operations.
LGO's accelerated production enhancement and development programs paralleled in all countries of operations has required the expansion of the Company organisation to deliver on these programs and attain end 2010 production targets. The organisation expansion, with the appointment of Eclipse and Equipoise, will ensure leading edge technical expertise is applied to ensure incremental recoverable reserves and production increases are maximised.
Eclipse is a worldwide recognised leader in production engineering and the application of innovative technologies in both conventional and unconventional oil & gas projects, and shall be focused on the delivery of the myriad production enhancement programs in all countries. Equipoise similarly is a worldwide recognised leader in subsurface management from constructing full field models to prospectivity review of exploration acreage, and shall provide all geoscience, reservoir engineering and reserves statements to LGO. Eclipse and Equipoise have a close working relationship based on experience jointly supporting oil & gas clients.
LGO has ceased the services of Tracs International Ltd and AGR Petroleum Services.
David Lenigas, Executive Chairman, commented:
"LGO are extremely pleased with the appointment of Eclipse and Equipoise to expand our team and deliver our very challenging production enhancement and development programs during the next 18 months."
"Both companies have proven and leading edge experiences in maximising reserves and production from nearly every worldwide petroleum basin, and we look forward to Eclipse and Equipoise seamlessly supporting LGO's worldwide operations to maximise the production potential of every asset."
Competent Person's Statement:
The technical information contained in this announcement has been reviewed and approved by Fraser D S Pritchard, Executive Director for Leni Gas & Oil Plc (member of the SPE) who has 20 years relevant experience in the oil industry.
Enquiries:
Leni Gas & Oil plcDavid Lenigas, Executive ChairmanFraser Pritchard, Executive DirectorTel +44 (0) 20 7016 5103
Beaumont Cornish LimitedRoland Cornish / Rosalind Hill AbrahamsTel +44 (0) 20 7628 3396
Mirabaud Securities LimitedRory ScottTel +44 (0) 20 7878 3360
Pelham PRMark Antelme / Henry LerwillTel + 44 (0)20 3178 6242
NOTES TO EDITORS
Leni Gas & Oil Plc is an international oil and gas exploration, development and production company headquartered in London, trading on the London Stock Exchange's AIM index. LGO's strategy is to acquire projects and businesses within the oil and gas sector that contain a development premium which can be unlocked through a combination of financial, commercial, and technical expertise.
LGO operates a low risk portfolio of production expansion assets in the US Gulf of Mexico, Spain, Trinidad, Hungary and Malta with significant play upside using similar strategies to leverage technologies and proven production enhancement techniques. LGO specifically targets near term production with upside exploitation potential and manages its portfolio to ensure all assets have accelerated incremental reserves and production enhancement programs.
www.lenigasandoil.com
Eclipse Petroleum Technology Ltd, part of Petrofac Production Solutions, is a market-leading niche oil & gas consultancy providing best value petroleum engineering advice to our customers. They support oil & gas companies to design and operate their wells and to maximise production volumes safely and cost-effectively.
Eclipse services fall into four categories: field development; production modelling and optimisation; well life-cycle risk management; and petroleum engineering functional consulting. With personnel in offices in the UK and US, they attract the best industry talent, with engineers involved in a wide range of projects including cutting-edge technical challenges, international scope and fostering an engineering-focused culture.
www.eclipsepetrotech.com
Equipoise is a London based Geoscience and Reservoir Engineering company with a North African office based in Tripoli. Projects span the complete range of subsurface work from exploration through to the construction of field models for development. They also provide Competent Persons Reporting, valuation, A&D support and are able to support companies in their Equity Defence and provide Equity expert teams. Equipoise's clients range from small independents where they provide all the subsurface support and in some cases manage the third party contractors as a complete package, to large multi nationals providing some very specialist services.
Equipoise have experience in most of the petroleum systems spanning a decade of operations with a team of many more years previous experience with Oil companies or other consultancies.
www.equipoisesolutions.ltd.uk
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