Leed Kicks Off GOM Drilling Program

Leed Petroleum reported that the Ship Shoal 201 A-6 well was spudded on February 1, 2010.

The Ship Shoal 201 A-6 well will target one proved undeveloped sand containing audited gross 2P reserves of 2,537 mboe (85% gas) and test two exploratory objectives. The Company owns a 100% working interest and an 80.2% net revenue interest in the well. The well, which will be drilled from the recently acquired Ship Shoal 202 'A' Platform, is planned to a total depth of approximately 13,396 feet. Log results are expected by the end of first quarter 2010.

The Ship Shoal 201 Lease was acquired in the 2007 Central Gulf of Mexico Mineral Management Service Lease Sale 205 and is located 125 miles offshore, southwest of New Orleans, Louisiana in approximately 102 feet of water.

Howard Wilson, President and Chief Executive of Leed Petroleum PLC, commented, "We are pleased to announce the spudding of the Ship Shoal A-6 well which marks the re-commencement of the Company's drilling program in the Gulf of Mexico.

Along side the development work currently being carried out at Sorrento Dome, we hope that the A-6 well will help to increase the diversity of Leed's producing assets and build upon the previous success of the Eugene Island drilling campaign."


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