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Leni Gas and Oil Plc is an international oil and gas exploration, development and production company headquartered in London, trading on the FTSE AIM All-Share. The Company has assets in the US Gulf of Mexico, Spain and Trinidad. LGO’s strategy is to deliver growth through the acquisition of proven reserves and the enhancement of...Read more
Leni Gas & Oil "entirely satisfied" with Trinidad workover programmeJuly 10 2012, 7:05am
Five wells have now been cleaned, repaired and returned to pumping operations with company confident they will achieve their average production potential of 10 barrels a day.
A total of US$50,000 was spent and the programme was completed in just 35 days.
The workover rig has now been temporarily demobilised while the transfer of the incremental production service contract is completed, Leni said.
This has now received Trinidad & Tobago Ministry of Energy and Energy Affairs approval and final arrangements are now underway to complete the handover.
Once this happens Leni will pay the outstanding money it owes to Cameron Oil & Gas and Sorgenia International. This will be financed from the proceeds of the sale of the company’s Spanish assets.
It is then planned to re-start the workover programme and seek permission for new infill wells on the property.
Ritson said: "We are entirely satisfied with the results so far and look forward to the larger production enhancement program that will start once field ownership is transferred.
“The drilling of new wells and the application of enhanced technology will significantly boost production.”