News

December 03, 2008

Leed Petroleum Announces A 3rd Back To Back Drilling Success In The Gulf Of Mexico

Leed Petroleum, which is based in the US but quoted on London’s AIM, specialises in low risk /low cost development and exploration opportunities in the US, Gulf of Mexico. It has more than 15 Outer Continental Shelf (OCS) Gulf of Mexico leases, two of which were awarded earlier this year by the Mineral Management Services (MMS) which is a US government Federal Agency. The MMS, like the Department of Trade and Industry (DTI) in the UK has the equivalent of regular licensing rounds.

Most of the acreage is shallow water/shelf (350 feet/100 metres in depth). These are largely low risk since they mature fields, with overlooked under exploited and undeveloped assets.

The company recently announced it had drilled a third back to back successful well on its Eugene Island concession. The Eugene Island A-8 well was spudded on October 6 2008 and reached a total measured depth of 15,470 feet on November 25 and encountered commercial hydrocarbons in the two primary well...