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

Max thanks, very positive reading, looks a good punt to me.
cyril

Me too. Good to have production already - this will limit any downside - plus good potential from the exploration.

I'm planning to add a summary of all LDP's assets to the header, similar to the IPL thread, but there are so many I've not had time to do it yet!

I managed to access the admission document yesterday, i was going to read over the weekend,unfortunately tonight its coming up as a damaged file.
cyril

Did you buy some, Cyril?

Yes i bought a some not as many as i would have liked,had to sell others to
release funds. Doing very well this am, up over 12% at 41.25p,news shouldn't
be to far off now?
cyril

Flying now, up over 17% to 43p.
cyril

It's up a lot today. I've not seen any new news or tips. Not sure what has prompted the sudden rise.

Max i can only think that its a week since the last RNS and perhaps logging
results due in the very near future?
cyril

The 15% rise here today relates to a whole lot more against the general market.
Along with OEX +3%, 2 of the few to end up blue, slightly surprised DGO lost a
little ground late on,due i expect to profit taking in dodgy times?
cyril

Dropped back to a touch under 40p today. Hopefully results from A-6 next week.

http://www.investegate.co.uk/Article.aspx?id=200801280701156289M
cyril

$0.23m !!! Cheap as chips. If I'd known the blocks were that cheap, I might have had a go myself! I wonder if the value reflects the risk?

Leed to acquire Challenger Minerals interested in Main Pass.
http://www.investegate.co.uk/Article.aspx?id=200801301540588950M

"The Company's management team knows the Main Pass area very well. This is a
solid, low risk acquisition that, upon completion, will immediately increase the
Company's revenues and reserves."

Positive update on A-6 well

"Initial results of the well exceed the Company's expectations and provide the potential for reserves upgrades."

"Analysis of the logs indicates that the objective sand is thicker and of higher quality than the Company had expected prior to drilling. At the time of admission to AIM, the competent person, an independent reservoir engineering firm, credited the primary zone with 2P* reserves of 824 thousand barrels of oil and 4.8 billion cubic feet of gas. Based on the Company's evaluation of the logs, the Company's internal post-drill reserve estimate for the primary zone exceeds this by one third. Moreover, the Company believes that after the well has produced for a short time the Company's independent reserve auditor will move a substantial portion of the pre-drill estimated 2P* reserves into the 1P* category."

Leed are currently making preparations for production from A-6.

They are also preparing to test the deeper "highly prospective" zone in the same well

Odd trading patterns following the announcement. Spike on day chart caused by the offer briefly hitting 50p with 20% spread before settling back to normal.

Hi Max, almost posted this am my feeling it was about time for some news, but
refained. Missed this news as i was golfing, amazing that trading pattern.I'll be
interested to see how things pan out tomorrow?
cyril

http://www.investegate.co.uk/Article.aspx?id=200802080700415822N
cyril

Since this thread started, the news has been exclusively good with hints about more positive news to come, yet the SP has barely moved.

Today's news is again positive. Yesterday's was very important I feel and I'm surprised that there was no rise. Leed got a brief mention in today's Times, so maybe a few more buyers will prompt a rise today.

Leed Petroleum PLC
28 February 2008

Leed Petroleum PLC
('Leed' or the 'Company')

Drilling Update


Leed Petroleum PLC, the oil and gas exploration and production company focused
on the Gulf of Mexico, announces the successful drilling of the secondary target
zone on the Eugene Island A-6 development well, which was spudded on 16
September 2007.

Analysis of the well logs acquired over the secondary target zone indicate a
productive gas reservoir has been encountered with approximately 51 ft of true
vertical thickness pay.

The encouraging results for the secondary objective are in addition to the
successful drilling of the primary target, which was announced on 7 February
2008. The secondary objective is a new discovery and until further analysis has
been carried out, the Company is not in a position to estimate any reserves
attributable to this zone.

The well has reached a measured depth of 15,876 feet and drilling continues
ahead to the third and final target zone. On completion of the drilling, Leed
will case the remaining section of the A-6 development well and carry out
production tests to determine flow rates. The refurbishment of existing
facilities to accommodate production from the well is in the final stages and
the Company expects to begin producing hydrocarbons shortly after well
completion.

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 very pleased with the discovery at our secondary target and continue to
drill ahead to test our final exploratory zone. Re-commissioning of the
existing production facilities is nearly finished and production from this well
is expected to occur shortly after well completion.'

The information contained in this announcement has been reviewed and approved by
Chris Thompson, Manager of Business Development at the Company who is a
reservoir engineer (SPE) with over 15 years experience within the sector.

Max a very pleasing result, this lower level can be classed as a new field. Not
sure the total depth of this well, but hopefully by the end of March it will completed along with testing, and production will follow shortly afterwards.
cyril