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

From The Times:

======================

Leed Petroleum climbed 2p to 41p after completing its well in the Gulf of Mexico.
The well flowed at a rate that could double the companys overall oil production.
Matrix initiated coverage with a price target of 89p

======================

A-7 spudded on 17 April: http://www.investegate.co.uk/Article.aspx?id=200804180700436138S

Yes a deep well which will take quite a whila to drill,if successful then this will
turn out to one very cheap stock?
cyril
;max if you click on the chain link above the posting box you'll get,http://www.investegate.co.uk/Article.aspx?id=200804180700436138S

http://oilbarrel.com
Look for press releases.
Good write up and for me this undervalued i will increase my holdings as
funds become available.
cyril

It is worth knowing that S/Widows has over the last few months increased its
holdings from 8.5m to 10.1m an increase of 1.6m shares.
cyril

Drilling Update

RNS Number : 1353V
Leed Petroleum PLC
22 May 2008


Leed Petroleum PLC
("Leed" or the "Company")
Drilling Update
23 May 2008
Leed Petroleum PLC, the oil and gas exploration and production company focused on the Gulf of Mexico, announces an update on the drilling activity at the Eugene Island A-7 well.

The Eugene Island A-7 well was spudded on 17 April 2008 and as at 22 May 2008 had reached a measured depth of 13,958 ft. Drilling continues towards the development and exploration objectives and remains on schedule to reach total depth in the third quarter of 2008.

Electric line logs have confirmed that the Company encountered 34 feet of true vertical thickness pay while drilling the Eugene Island A-7 well. The Company had previously identified the formation as a zone of interest but it was not a primary objective of the well. The Company will continue to evaluate this sand as drilling continues toward the primary objectives.

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 are pleased to have found pay in the A-7 well before reaching any of the targeted objectives, which offers potential further upside from the well. While the discovery of this zone is good news, drilling continues and we await the results of the more promising objectives at deeper depths."


For further information:

Leed Petroleum PLC
Howard Wilson, President and Chief Executive +1 337 314 0700
James Slatten, Chief Operating Officer +1 337 314 0700

Matrix Corporate Capital LLP
Alastair Stratton +44 20 7925 3300
Tim Graham +44 20 7925 7852

Pelham Public Relations
Alisdair Haythornthwaite +44 20 7743 6676
Evgeniy Chuikov +44 20 3008 5506

VMax thanks my link doesn't work?
cyril

For anyone looking for a oiler with lots of potential and in a safe country(USA)
here's an excellent and througher article by an experienced and well respected
investor in the section.
http://boards.fool.co.uk/Message.asp?mid=11071685
cyril

hi cyril

i bought at 48p when i saw the rise......another few k to help sp

should be news out soon

Have a look at AEX and the news there today.
Looks very cheap imo when compared with LDP.

Drilling update - 2 more zones found on A-7. :-)

Noticed that the excitables have piled in on ADVFN :-(

Yes - a very big group hug going on over on advfn (love that expression). Having topped up just yesterday, I'm feeling very smug right now.

Well done, Pond Life.

Up 30% today so you must be grinning from ear to ear!

u wrong then relishing after today......i'm up 18p after one day holding!!!!

Leed Petroleum is the "Oil & Gas Stock To Watch" in this week's shares mag. At time of printing, they have LDP as a buy at 44p - so well done to whoever authored that article.

its not often shares mag has a good tip......i dont even read it these days due to woeful tips a few years ago.....and that was when market was good

Hi everyone, just back on line having been off since Tuesday. What great news, 3
zones of over 80ft and still the primary objective to go, seems sometime next month is likely? Also of importance is the 2000bopd from Well-6 which gives us
some excellent revenue.
cyril

do u think sp will keep rising this month cyril? remember oil will go to 150$

Scot, market unsettled at this minute so until it quitens down who knows? I believe the result of the primary target(due next month) will have a lot of effect on the SP,fngers crossed but still a good company with some great assets and only
recently won at auction two more blocks.
cyril

good increase today......this should rise just on oil price alone