Leni Gas & Oil confident of further improvements in production
24 September 2009
David Lenigas, the chairman of AIM listed oil and gas explorer Leni Gas & Oil, today said the company had made continued progress across all of its production operations during the last six weeks.
In August, the company’s direct and indirect production figures totalled 16,103 boe (average 534 boepd) which was similar to July’s figure of 16,392 boe.
In Spain, production optimisation works have continued to stabilise production with further upgrades planned to ready the field for the next step change in production.
In the Gulf of Mexico, the company now anticipates increasing production with upgrades to the Eugene Island facilities. In Trinidad production enhancement programmes are also expected shortly, and in Hungary the company is close to announcing the next stage of development to maximise recovery from the existing production operations.
Lenigas said: “As forecast, August saw an increase in production with an increase in Spain despite production depletion, intervention or restrictions in all other countries.
“Looking ahead, the company forecasts the September production schedule to show continuing production improvements in Spain, though reduction in Gulf of Mexico and Hungary due to planned infrastructure modifications and reserves depletion respectively.”
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