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

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!

christ, even the bloody stockwatch on moneyam is down n 'all

:(

Ah - this is where everyone is today then!

Damn! Too many of us using the free time on Stockwatch reduces shared time to - zero!

I pay for full access! Quite happy actually, it's not the fault of the guys at moneyam, i suspect its the data provider

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