News

June 17, 2008

Leni Gas & Oil Announces Details Of Its Enhanced Recovery Programme To Push Up Output From Its Ayoluengo Field In Northern Spain

London AIM-quoted Leni Gas & Oil touts itself as a company interested in profits from safe countries and achieving profitability through asset rehabilitation and enhanced exploitation. Roughly translated this means it aims to visit known discoveries in politically stable countries where there are no difficulties over title and see what more can be produced from known fields.

Its main producer at the moment is the Ayoluengo oilfield onshore northern Spain. This is an old oilfield, as these things go, and is the largest in Spain, with mean Stock Tank Oil Initially In Place (STOIIP) of P50 best estimate reserves of 104 million barrels. Its primary development was in the 1960s when Chevron and then Repsol were involved. There has been historical production of 17 million barrels, which is thought to amount to only 17 per cent recovery of 37 degree API oil. After its...