1 April 2008	Oil & Liquids (mmbbls)	Gas (bcf)	Total (mmboe)
1P Reserves	3.85	47.2	11.7
2P Reserves	7.87	97.22	24.1
3P Reserves	16.25	322.39	70.0

The next independent reserve report is expected to be published by 31 March 2009

Asset Summary

Operations Map

Oil Price

Assets:Eugene Island (blocks 172, 183, 184)A-6 well flowing at 498 boepd (374 boepd working interest). Awaiting recompletion from primary zone during Q1 2009. A-7 well flowing at 2177 boepd (1623 boepd working interest). Well originally tested at approx 4000 boepd, but water level have been increasing. A-8 well flowing at 2557 boepd (1918 boepd working interest).Grand Isle (blocks 95, 100) Assessing seismic data, finalising well plansShip Shoal (block 201) Commencing operations during 2009. Fast tracking drill of wells 1 and 2.South Marsh Island (blocks 5, 6) Block 6 due to be drilled in first half of 2009. Installing platform and pipeline.Sorrento Dome Drilling plans finalised. Seeking drilling rig for well 13-1. LDP news - RSS Feed

Stockwatch is working fine for me. I pay for MAM level 2 though.

Nil Pd, A-8 won't start until A-7 has commenced production, so confirmation that A-7 is producing will come first. Reserves upgrade likely this quarter too. Financing isn't really a big issue unless an imminent acquisition is planned.

Various things expected soon:

- A-7 flowrate and hook-up
- A-8 spud
- Possible reserves update
- Extra financing(?), possible significant increase (IPO financing was secured on production, with gas hedges in place. With significantly increased production and gas price, if new financing is secured on same terms, ie. production, significantly higher funds may be made available with current revenue generation of Company). Something else to think about - with major ramp up of cashflow, could they get by without raising too much money?
- Rig(s) contract - current rig only contracted for A-8. Also, may need to ramp up drilling schedule to satisfy drilling commitments on certain blocks.
- Possible revised drilling schedule, adding in 2 recent blocks.

Thanks sranmal and ValueMax. I'll save the summary (only recently joined in with LDP so I need to gather these kind of data - can't remember it all - as I did for MTA, PANR, etc).

VM:> Thansk

moving up today

I'm hoping that sranmal does not mind me copying his research document as its
an excellent read.
http://www.mediafire.com/?gs3audzpwzy
cyril

No probs cyril!

Howard declined to say just what the A-7 is likely to produce. We have written that some clues can be gleaned from the A6, well here the net pay from one zone was 51 feet. The six zones from the A-7 well contain a total of 125 feet of true vertical thickness pay.
Although he refused to be drawn Howard did say it was reasonable to assume that A-7 should perform as well as A-6 if not better. We should have some firm figures together with some reserves upgrades towards the back end of August. Next, Leed will drill the A 8 well and also a sidetrack to the A2 well which is only one of the Eugene Island wells not to be a producer thus far. This will bring the Eugene Island programme to en end, although the wells are expected to have a 20 year life, and Leed will have a 75 per cent interest in them.

Howard pointed out that Eugene Island is only one cornerstone for the company. Additional non producing operated properties include 100 per cent working interests in two blocks in the Marsh Island area, two blocks in Grand Isle and a number in the Main Pass

Number : 0661A
Leed Petroleum PLC
28 July 2008


Leed Petroleum PLC
("Leed" or the "Company")
Placing and Subscription


Leed Petroleum PLC, the oil and gas exploration and production company focused on the Gulf of Mexico, announces the completion of a placing ('the Placing') of 14,500,000 new ordinary shares of 5 pence each in the Company ('Placing Shares') and a subscription ('the Subscription') of 10,500,000 shares of 5 pence each in the Company each, at a price of 60 pence per ordinary share, to raise 15 million before expenses. The Placing Shares were placed by the Company's broker Matrix Corporate Capital LLP with institutional clients and both the Placing and Subscription were oversubscribed.




Together with the US$16.4 million received from Byron Energy Pty Ltd, the net proceeds of the Placing and Subscription will be used to reduce borrowings and continue the drilling programme which in the short term involves the completion of the Eugene Island 183 A-7 well, the drilling and completion the Eugene Island 183 A-8 well and drilling and completion the Eugene Island 182 A-2 Side Track.




The new ordinary shares will rank pari passu in all respects with the existing ordinary shares in the Company. Application will be made for the new ordinary shares to be admitted to trading on AIM, and it is expected that admission will become effective and dealings in the new ordinary shares will commence at 8:00 a.m. on 5 August 2008. Following the Placing and Subscription there will be 276,020,767 ordinary shares in issue.




Howard Wilson, President and Chief Executive of Leed Petroleum PLC, commented:




'In light of current market conditions, the Company is delighted that the fundraising was oversubscribed. The funds raised will enable the Company to reduce its borrowings and continue to deliver on its Gulf of Mexico strategy. We expect continued good results from our Eugene Island drilling programme, and from there, the Company will move on to drill our other assets .'




29 June 2008
cyril

A great achievement in current markets. Getting that sort of fundraising away at minimal discount and to have it oversubscribed shows just what a solid outfit these are. The pending reserves upgrade couldn't have done it any harm :-)))

PL i must agree, its a great achievement. Hoping for news from A-7 in the
near future, which could help get rid of the overhang of the seller and really allow
the SP to find its true value?
cyril

Good to hear it was oversubscribed. Puts a strong base under the current share price. Slightly disappointed they went for dilution rather than debt.

Looks like the market likes it,testing highs and a 50k trade at 69.75p.
cyril

I've taken the liberty to copy a piece of research by one of the most respected
ameteur posters around.

It's worth remembering we have some excellent exploration assets in addition to our 'development' assets.

Depending on pay and porosity we can never be sure what each well may produce.
I'm hoping that somwehere into the future some of our new wells might hit bumper pay like some of those listed below. I've summarised these taking some from Sranmals notes/other Gulf operators websites/history. Of course we have to allow for dry wells and smaller producers from time to time, but looking over a lot of which has been discovered to date - potential exists for some excellent flow rates - and anything similar in the future could transform this company at a stroke. I've combined both oil/gas rates to give total boepd/well.

Leed Petroleum blocks Eugene Island 172/183/184.
Currently being developed and producing.
A-6 well 2095 boepd .
A-7 well - Awaited.
A-8 Spudding imminent.
A-2S/T likely Q4.

Other Flow rates at Eugene Island.
Block 97 (McMoran) No 1 well 2,666 boepd.
Block 193 (McMoran) No 3 well 10,000 boepd.
Block 193 (Texaco) No 1 well 9,950 boepd.
Block 182 (Newfield) well at 2,830 boepd.
Block 10 (Contango + partners) Dutch 1 + 2 wells combined = 10,530 boepd (5265 av per well).
Dutch 3 well (25/7/07) = 5666 boepd.
Block 11 (Contango + partners) Mary Rose 4 well 3633 boepd. Mary Rose 1 & 3 combined are producing 18,830 boepd.
-------------------------------------------------

Leed Petroleum blocks East Cameron 317/318.
Currently producing and awaiting further development + exploration.

Other flow rates at East Cameron.
Block 334 (not sure of the operator - taken from Sranmal note/links).
E-2 well 6094 boepd.
E-1 well 11,766 boepd.
F-1 well 4,823 boepd.
Block 347 (Anadarko) No1 well 3,723 boepd.
-------------------------------------------------

Leed Petroleum Ship Shoal blocks 201/205.
Exploration drilling on block 205 after surveys.
'Development' and exploration drilling planned on 201.

Other operator flow rates at Ship Shoal.
Block 189 - 1 well at 5168 boepd.
Block 206 - 1st well at 4166 boepd.
Block 206 - 2nd well at 2600 boepd.
Block 361 Agate field (Anadarko 1999) 1160 boepd.
---------------------------------------------

Leed Petroleum South Marsh blocks 5/6/8.
Substantial low risk exploration potential on blocks 5/6.
Block 8 acquired 1st July 2008 - CEO quote - "identified several solid exploratory and low risk re-development opportunities on this lease. We are actively planning wells that will test these strong prospects.

Other operator flow rates at South Marsh.
Block 288 CA-6 well at 5,000 boepd.
Block 288 CB-5 well 3,666 boepd.
Block 212 (McMoran) FR-1 well 17,000 boepd.
Block 212 (McMoran) FR-2 well 6,333 boepd.
------------------------------------------------

Leed Petroleum Main Pass blocks 57/64/65/115.
Currently producing and awaiting further development on B64/65.
Low risk exploration drilling planned for B115.

Flow rates can be seen via Leed docs.
Brigham Exploration right next door on Main Pass block 66 - SL 18826 #1 well at 7600 feet from 100 ft total pay = 2500 - 3333 boepd this month
------------------------------------------------------

Leed Petroleum West Cameron block 106.
Awaiting development.

Other operator flow rates at West Cameron.
Block 110 No 16 well 2,280 boepd.
-----------------------------------------------
Leed Petroleum Grand Isle Blocks 95/100.
Awaiting "development" drilling.

Other operator flow rates at Grand Isle.
Spinnaker Exploration on Grand Isle 52 - 1 well at 3750 boepd
Anadarko had block 116 (from 1998) and the Hickory field discovery total volumes were 15,000 oil and 50,000 boe gas/day.
-------------------------------------------------
Leed Petroleum Sorrento field.
Awaiting development drilling
--------------------------------------------
cyril

Hoping the last post + that of sranmel's post 113, bring's home the potential of this company?
cyril

Released today 2 major holders cross threshold, which at 1st looks like a reduction,
closer inspection reveals that Scottish widows actually increased their holdings. Its simply the increased shares in issue are responsable for around 0.4% reduction,
according to my calculations?
cyril

The recent placing caused a dilution of the shareholdings by approx 9%, meaning that the percentage of the company held by today's notifiers was reduced across the trigger points for the notification announcement (4% and 5% boundaries).

Scottish Widows previously held 10,111,497 shares (4.028%) and now hold 10,200,298
(3.695%) in LDP.

Delays at A-7 and reduced flow from A-6.

RNS Number : 9798B
Leed Petroleum PLC
26 August 2008

Eugene Island Update

Leed Petroleum PLC, the oil and gas exploration and production company focused on the Gulf of Mexico, announces an update on activity at the Eugene Island field.

Since concluding drilling of the Eugene Island A-7 well, the Company has been working on casing and completing the well for production from one of the primary zones. The Company has not been able to produce a consistent flow rate from this zone and extended testing will be required to fully evaluate its potential.

Accordingly, in order to achieve its targeted commercial production from the A-7 well, the Company will move up the wellbore and begin producing from another of the primary zones intersected by the well. If deemed appropriate, the Company will consider returning to the deeper zone in the future. Completion of the shallower reservoir is expected to take approximately six weeks.

In the interim, the Company has performed preliminary work for the Eugene Island A-8 well. The Eugene Island A-8 well will target a superior 'take-point' from the exploration target discovered by and currently producing through the A-6 well.

Since commencement of production from the secondary exploration target of the A-6 well, an extended flow test has been conducted, with the results of this test corroborating the Company's reserve estimates. The A-6 well began to make sand during the test, and while this reservoir continues to produce, the Company has reduced the flow rate to ensure operational safety. The curtailed gross test rate during August to date has averaged 988 BOEPD. Following completion of the A-8 well, the A-6 well will be recompleted as a long term producer from its primary zone, as has always been the Company's intention. It is anticipated that production rates for the A-6 will then return to previously announced levels.

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 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 remain very confident that the A-7 well will perform to our expectations. It is unfortunate that we have experienced this delay, however, the long term development and acceleration programme for the Eugene Island 183/184 field remains on track. In addition to reserves scheduled to be produced from the A-7 well, the A-8 will develop existing reserves discovered during the current drilling programme as well as test at least one exploratory target.'

Alas, such are the risks with such companies. It still looks a good investment on a longer term basis? imho
cyril