Leni Reports Record Production

Junior explorer Leni Gas and Oil reported Wednesday that production from its fields in Spain and Trinidad recently hit 450 barrels of oil per day – a new record for the company.

In northern Spain, the firm's field at Ayoluengo continues to perform well, with oil production hitting 143 bopd on June 10 compared a 2012 average of 130 bopd. Leni is currently seeking a partner to co-invest in projects designed to enhance production at Ayoluengo.

In Trinidad, the firm has see oil production increase steadily at its Goudron field since its acquisition in October 2012, and Goudron now contributes two-thirds of Leni’s total production. The firm expects production growth here to continue throughout this year as additional wells are reactivated.

But Leni also reported that performance from its Icacos field has been less strong in recent weeks and that additional well work-overs will be required to restore previous production levels in excess of 35 bopd.

Leni Chief Executive Neil Ritson commented in a company statement:

"We continue to be ahead of our planned progress towards the 400 bopd target set by the company for Trinidad by end year. We are continuing at an aggressive pace in Trinidad and we remain confident of the development potential in the country."

 



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