News

February 03, 2009

Leni Gas & Oil Reports 150 Per Cent Jump In Production As Its GoM Interests Start To Deliver

When times are tough and oil prices are on the slide, it’s useful to have a production profile that’s moving in the right direction, namely upwards. AIM-quoted Leni Gas & Oil has got 2009 off to a good start with its net production for January totaling 20,020 barrels of oil equivalent (646 boepd), up by 150 per cent on December.

The big difference was the company’s interest in the Eugene Island field in the US Gulf of Mexico.  Leni, which is due to present at next week’s oilbarrel.com conference in London, has an effective 8 per cent net working interest in the field through its 28.94 per cent interest in Byron Energy.  This 8 per cent interest provided Leni with net monthly production of 12,000 boe in January (387 boepd).  Executive chairman David Lenigas described this as a “step change” in the...