Leni Gas & Oil plc (LGO) has given its monthly production update for September.
During September monthly production totalled 5,302 barrels of oil equivalent (boe) excluding the interests in the US Gulf of Mexico and Lower 48. The monthly production update from all countries of operation is summarized below.
The Ayoluengo Oilfield (100% LGO) in northern Spain produced net to LGO 3,262 barrels of oil (bbls) and 1.210 million standard cubic feet (mmscf) of gas during the month. Net production in barrels of oil equivalent (boe) totalled 3,476.
The Icacos Oilfield (50% LGO) located on the Cedros Peninsula of Trinidad produced net to LGO 300 barrels of oil (bbls) during the month. The Oilfield produces no gas. Net production in barrels of oil equivalent (boe) totalled 300.
The Peneszlek Gasfield (7.27% LGO) in eastern Hungary produced net to LGO 8.63 million standard cubic feet (mmscf) of gas and no condensate during the month. The Gasfield produces no oil. Net production in barrels of oil equivalent (boe) totalled 1526.
US Gulf of Mexico & Lower 48
The interests held by Byron Energy (28.94% LGO) in the US Gulf of Mexico and Lower 48 will be announced in due course. Further to the announcement on 06 October 2008 by Leed Petroleum ("LDP") that testing on the A-7 well in the Eugene Island field, US Gulf of Mexico, has achieved rates that equate to 4,012 barrels of oil equivalent per day, the net LGO production from Eugene Island shall significantly increase the production schedule.
David Lenigas, Executive Chairman, commented, "September saw a near 15% increase from August for the company's production schedule with increasing production from the Peneszlek Gasfield in Hungary and the Ayoluengo Oilfield in Spain. Trinidad expectedly delivered lesser volumes due to planned well intervention activity.
"We anticipate a slight reduction in production during October with the execution of our Ayoluengo stimulation program in Spain deferring about 15% production for approximately two weeks on some of our active wells. However in November we are forecasting a significant step change in production from Spain as the well productivity improvements, targeted by the stimulation program, are increasingly realised."
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