Leed Petroleum Spuds Eugene Island Well

Leed Petroleum says that the Company has commenced drilling on it’s Eugene Island Block 183/184 property.

The Eugene Island A-6 development well was spudded on 16 September 2007 and drilling operations are now underway. This follows the announcement of August 28, 2007 regarding the signing of a contract for the Ensco 98 for a multiple well drilling program. The A-6 well is expected to reach total depth by December 2007 and the results of the drilling will be announced in due course.

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 team 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 Petroleum PLC, commented:

“We are pleased to announce commencement of drilling operations in the Eugene Island 183/184 field. This is an important first step in developing the non-producing assets in the Company’s portfolio and reflects the implementation of a Leed strategy of increasing production through exploitation of proven and probable reserves.”

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