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

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

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 :-)))