20th Mar 2009 10:57
LENI GAS & OIL Plc
("LGO" or "The Company")
20 March, 2009
Four new Blocks in Gulf of Mexico MMS Lease sale 208
Leni Gas & Oil plc ("LGO") the AIM listed international oil and gas exploration, development and production company has been advised by Byron Energy Pty Ltd ("Byron") that Byron has been confirmed as highest bidder on four leases in the Central Gulf of Mexico Minerals Management Services ("MMS") Lease Sale 208.
The MMS has confirmed that Byron was the highest bidder on West Cameron Area, South Addition blocks 489, 490, 491 and West Delta Area block 49. Final award of these leases is subject to a geological review by the MMS to confirm adequacy of the bid values. This review is expected to be completed within approximately four months. Byron expects to receive approval of its bids within this time-frame. If and when Byron receives approval Byron will have a 100% working interest in these leases.
A further announcement will be made by the Company in due course.
LGO has an indirect interest in these four leases through its 28.94% holding in Byron.
David Lenigas, Executive Chairman, commented:
"Today's announcement regarding the four new blocks in the Gulf of Mexico in addition to the two blocks announced yesterday under the Leed Petroleum/ Byron venture further increases LGO's potential portfolio interests in the Gulf of Mexico acreage."
"With LGO owning 28.94% of Byron, these four new blocks announced today provides the Company with a much larger exposure to the Gulf."
Competent Person's Statement:
The technical information contained in this announcement has been reviewed and approved by Fraser S Pritchard, Executive Director (Operations) for Leni Gas & Oil Plc (member of the SPE) who has 20 years relevant experience in the oil industry.
Enquiries:
Leni Gas & Oil plc
David Lenigas, Executive Chairman
Tel +44 (0) 20 7016 5103
Beaumont Cornish Limited
Roland Cornish / Rosalind Hill Abrahams
Tel +44 (0) 20 7628 3396
Mirabaud Securities LimitedRory Scott
Tel +44 (0) 20 7878 3360
Pelham PR
Mark Antelme / Henry Lerwill
Tel + 44 (0)20 3178 6242
Related Shares:
CERP.L