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Leed Petroleum spuds Ship Shoal 201 A-6 well in Gulf of Mexico

02 February 2010

Oil and gas group Leed Petroleum has officially restarted its drilling programme in the Gulf of Mexico with news that the Ship Shoal 201 A-6 well was spudded on February 1, 2010.

The drilling comes a week after Leed completed the acquisition of the Ship Shoal 202 'A' Platform, and got the go-ahead from authorities to reuse the rig to drill the A-6 well.

It marks the start of a busy first quarter of the year for Leed as it balances its focus between the Ship Shoal drilling and bringing the United Lands 14-1 well to production at Sorrento Dome, as well as improving and stabilising production volumes at the Eugene Island field.

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. Log results are expected by the end of first quarter 2010.. Leed owns a 100% working interest and an 80.2% net revenue interest in the well.

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






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