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

Just cann't believe theirs so little interest in this company whose assets are in the US of A, "WHAT DO THEY HAVE TO DO" ?
This really is a great company in the making and will be adding to the 2000bopd,
"within this quarter".
cyril

RNS Number : 2062Y
Leed Petroleum PLC
03 July 2008

Drilling Update


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.

As announced by the Company on 20 June 2008, after drilling of the original wellbore was completed, electric line logs confirmed the existence of six sands containing a total of 125 feet of true vertical thickness pay. The well has now been sidetracked through four of the six sands encountered in the original wellbore to a measured depth of 15,396 feet. Logging operations in the sidetracked portion of the wellbore have been performed and confirm 124 feet of true vertical thickness of pay in the four sands, which is 56 feet more than that encountered in the original wellbore. Accordingly, in total, the Eugene Island A-7 well has 181 feet of true vertical thickness of pay in all six pay sands.

With drilling now concluded, the Company is working on casing and completing the Eugene Island A-7 well for production from one of the primary targets, which has 41 feet of true vertical thickness pay. The first sale of production from this zone is expected to occur during this quarter of 2008.

Upon establishment of production from the A-7 well, Leed intends to use the Ensco 98 drilling rig at Eugene Island to drill the A-8 well.

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:

'The sidetrack of the A-7 well has been a great commercial success and should add substantial reserves and materially increase Leed's daily production rate once brought on stream during this quater. Not only did the A-7 well exceed our expectations in each of the two primary objectives, it found commercial reserves in four additional zones. With these results, our technical team is now working diligently to incorporate further low risk development projects from this field into our near-term drilling programme'.

Max i think our 6000bopd end of year is very very conservative considering this latest update?
Here's to a "gift horse"
aimho
cyril

It depends how A-8 goes. A-6 is producing around 2000, plus there are several other assets producing lesser amounts but totalling somewhere close to 1000. A-7 hopefully similar to A-6, so we could be at 5000 once it starts producing.

6000bopd certainly looks very achievable.

Also look out for significant reserve updates in the coming weeks.

And in other good news (for Leed), oil is now over $145:BBC News - Oil Prices Reach New Record High

I just couldn't resist and topped up a few more,this to me is a no brainer?
cyril

More good news from LDP. Pity this is such a bad, mad market or we would have been a lot higher by now.

The A D V F N site has thrown me off. So I moved over here. Same user name.

Would you care to tell us MAM posters the reason why, or best left alone?
Forewarned is forearmed & all that!!! :o)

Nil PD; Welcome, nothing to serious i hope?
cyril

The "A" site appears to be down. BTW, hello everyone, haven't checked in at moneyam for yonks, so have just read this whole thread. Seems a whole lot "calmer" over here than on the other site (I'm the author of that MF post a few months ago, I have the same username on MF, here and the other site).

stranmal:> The other site is down - nor sure how long so followed you over for a look. Where to you see LED going - they have certainly appear to have had success with this last well but I have not yet been able to put a likely figure on production.

Hi niceonecyril: dunno but it's still down, as sranmal says (he started the LDP thread on "A" site). The down time on A D N F V could indicate a major failure!

Hi sranmal!

Wasn't me who started the thread on the A site, that was chopsy!

re. A-7 production: With the sidetrack, they've encountered thicker sands. With a 41 ft pay sand to produce from, I'd be happy with something like 1,500 boepd, although anything over 1,000 boepd would be significant in the current pricing climate. Note that the mix of oil:gas may not be the same as A-6, from my research, the 50:50 mix in the A-6 is exceptional, I've seen ranges from all gas to 50:50 splits in my research of other wells in the region.

Let's hope that when A-7 comes on, we can move up over previous high and the presistant seller moves his selling price higher.

Hello folks. It's nice to be a popular thread for a change, even if its only because that other site has crashed!

Pugugly, the most likely production level is around 5000boepd once A-7 goes live, assuming a similar output to A-6.

sranmal; welcome and hope to see you posting a lot more, as your experiance in
the oil field would be most valued.
cyril

Ooops, sorry! Was it MTA then?

Nil Pd - not even MTA(!), have started a few though - IEC, PANR, EEL (now defunct), AEY.

Thanks for the kind words folks.

That was it PANR. I am (temporarily) completely out of PANR, so I haven't visited that thread for a while.

Anyway, sorry for O/T. When was the next event expected here at LDP, was it A8 or was it possible access to extra financing? Without being able to refer to the many excellent summaries on N D A V F I forget...

another AVDNF refugee. What's up at t'other site anyway?

hope they haven't gone bankrupt!