Drilling Update

Leed Petroleum PLC

("Leed" or the "Company")

Drilling Update

Sidetrack of Main Pass 64 #1 well

Leed Petroleum PLC (AIM: LDP), an oil and gas exploration and production company focused on the Gulf of Mexico, today announces an update on the drilling activity at the Main Pass 64 #1 sidetrack well.

As previously announced on 24 August 2010, the Company elected to participate with operator, Medco Energi US LLC (the "Operator") in the Main Pass 64 #1 sidetrack well. The well was spud on 23 August 2010, and reached a total measured depth of 8,086 feet on 19 September 2010. Electric line logs have confirmed that the wellbore encountered three pay sands, containing a total of 71 feet of true vertical thickness pay, including 48 feet of true vertical thickness pay in the field's primary pay zone. Results of this well are in line with pre-drill expectations.

The Operator is currently casing and completing the well for oil production from the primary pay zone. As previously stated, first production from this zone is expected to occur early in the fourth quarter of 2010.

The Company owns a 25% non-operated working interest and a 19.18% net revenue interest in the well. The well is presently on track to be drilled and completed for the budgeted cost of approximately US$5,400,000 (US$1,350,000 net to Leed).

The Main Pass 64 field, which contains numerous oil and gas reservoirs, was discovered in 1982. The majority of the oil production has come from the field's primary pay zone which has been subjected to a successful water flood pressure maintenance program.

The Main Pass 64/65 field is located four miles offshore, southeast of New Orleans, Louisiana in approximately 30 feet of water.

Howard Wilson, President and Chief Executive of Leed Petroleum PLC, commented:

"We are pleased that the initial results from the Main Pass 64 #1 sidetrack well are in line with our pre-drill reserve and drilling budget expectations and look forward to getting this additional long life oil production online in the near future."

Note to Editors

The information contained in this announcement has been reviewed and approved by Jim Haag, P.E. (Certified Petroleum Engineer), who holds a Bachelor of Science degree in Engineering and is a member in good standing of the Society of Petroleum Evaluation Engineers (SPEE) and the Society of Petroleum Engineers (SPE), with over 35 years experience within the sector.

Leed Petroleum PLC is an AIM quoted independent oil and gas exploration and production company. The Company's operations are concentrated in the Gulf of Mexico region where Leed has established a significant portfolio of producing and development assets. The Company has interests in 17 offshore blocks and 1 onshore field in the region.

Leed's strategy is to grow the Company's portfolio through organic development of its existing assets and to utilize its regional expertise to identify and purchase value adding assets.