Leed Petroleum Continues Eugene Island Drilling Program

Leed Petroleum reports that drilling operations are now underway for the Eugene Island A-7 well.

The well was spudded on April 17 2008 by the ENSCO 98 and will test a development objective as well as other exploratory zones. The A-7 well is expected to reach total depth in the third quarter of 2008.

The Eugene Island Blocks are located 50 miles offshore, south of Morgan City, Louisiana in the Gulf of Mexico in approximately 80 feet of water. Leed's management has built an inventory of development projects and exploration targets across the Eugene Island Block 183/184 Field.

Howard Wilson, President and Chief Executive of Leed, commented:
"Following the recent success of our A-6 well, we are pleased to announce the continuation of the Eugene Island 183/184 drilling program with the spudding of the A-7 well. Our technical team has designed a well plan to test multiple objectives, each of which has the potential to make a substantial impact to the Company's production."

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