Leni Gas & Oil PLC announced an update on oil production in Trinidad. During the last week production at the Goudron and Icacos Fields in Trinidad (LGO, 100% and 50% respectively) has averaged over 170 bopd, with production reaching 201 bopd on January 27, 2012, the last day for which reports are available. The Goudron Field has now exceeded the second production target of 150 bopd set by the company when it acquired the operatorship of the field in October 2012.

The first production goal, of 100 bopd, was reached on November 20, 2012. The company has carried out well investigations at Goudron on over 30 wells to date, of which 13 have been the reactivation of previously producing wells that have been dormant for a number of years. Currently the company is producing from 22 wells. The company plans to continue its programme of well work-over and reactivations and now expects to be able to achieve production from at least 50 wells within 12 months of the acquisition.

A number of well re-completions, including the perforating of new reservoir zones, are also being planned for the second quarter 2013. This work will be conducted from cash flow within the Group. The drilling of new wells at Goudron will be undertaken later in 2013 with a minimum of two new wells to be drilled.