Leni Sells More than 100,000 Barrels of Goudron Oil

Leni Gas and Oil revealed Monday that it has sold over 100,000 barrels of oil from its Goudron field, onshore Trinidad, as it reported that development drilling continues on the field.

Leni said that development well GY-664 has now intersected more than 1,000 feet of gross oil-bearing sands, having drilled further estimated 720 feet of oil sands in the Gros Morne formation. GY-664 earlier drilled more than 350 feet of oil-bearing sands in the Goudron formation.

Drilling is continuing in the Lower Cruse layer, which is the third reservoir target of the well.

Leni Chief Executive Neil Ritson commented in a company statement:

"A total of over 100,000 barrels of light high quality crude oil has now been sold to the Petrotrin owned Pointe-a-Pierre refinery in the last 18 months.  An upward production trend is set to continue with the redevelopment of the field now underway. 

"We have had considerable support from Petrotrin and the Ministry of Energy and Energy Affairs in our efforts to revitalize the Goudron Field and are confident that LGO's approach can be repeated on other fields which will support of the Ministry's objective of increasing the proportion of indigenous crude being refined at Pointe-a-Pierre, which last year averaged 81,157 barrels a day.

"The current well GY-664 is exceeding our original prognosis and has now discovered commercially producible oil zones in the both the Goudron and Gros Morne sandstones, the well is now in the Lower Cruse and is expected to reach total depth shortly."



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