11th Apr 2013 07:00
For Immediate Release, 7am 11 April 2013
LENI GAS AND OIL PLC
("LGO" or the "Company")
Drilling Update, Goudron Field, Trinidad
LGO today announces that a second work-over rig has been mobilised and is now operating at the Goudron Oilfield in Trinidad.
Further to the recent announcement concerning the installation of thirty additional beam pumps at the Goudron Field, the Company has now mobilised a second work-over rig, Altech-2, to complement the on-going work of the existing light work-over rig, Altech-1, which has been operating continually at the field since LGO took over operations in October 2012. The Altech-2 is rated at 80,000 lbs and can operate to depth of 6,000 feet.
Neil Ritson, LGO Chief Executive, commented: "We are delighted that the Altech-2 has now become available since the rate of work on well reactivations, and the imminent commencement of recompletions and repreforations, at Goudron exceeds what a single unit can achieve. The added rig capacity will allow us to accelerate the planned production enhancement work."
Competent Person's Statement:
The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for Leni Gas & Oil Plc, who has over 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers, an Active Member of the American Association of Petroleum Geologists and is a Fellow of the Geological Society of London.
Enquiries:
Leni Gas & Oil plc
David Lenigas Neil Ritson | +44 (0)20 7440 0645 |
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Beaumont Cornish Limited
Nomad and Joint Broker Rosalind Hill Abrahams Roland Cornish | +44(0) 20 7628 3396 |
Old Park Lane Capital Plc
Joint Broker Michael Parnes | +44(0) 20 7493 8188 |
Shore Capital
Joint Broker +44 (0) 20 7408 4090
Pascal Keane
Jerry Keen (Corporate Broking)
Pelham Bell Pottinger
Financial PR Mark Antelme | +44 (0) 20 7861 3232 |
Henry Lerwill |
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