News

June 19, 2009

Conference Report 1: Leni Gas & Oil And Caza Oil & Gas Start The Day At Oilbarrel.com’s 26th Conference In London

By Amy McLellan

With a name like Lenigas, it would be churlish not to set up an oil and gas company. That, at least, was the view of David Lenigas, chairman of Leni Gas & Oil plc, which joined AIM in March 2007. Lenigas was the first speaker at oilbarrel.com’s 26th conference at The Brewery in the City of London and he gave an entertaining and at times refreshingly honest account of the eponymous company’s assets and ambitions.

Lenigas acquires under-performing producing properties and unlocks additional barrels by investing in the under-developed fields.  It has made five such acquisitions in the past two years and now has production in the US Gulf of Mexico, Spain, Hungary and Trinidad (“we only operate in the sort of nice, safe places you wouldn’t mind taking the wife and kids on holiday” said Lenigas).  Production of 2,000 barrels of oil equivalent per day is expected by the end of this year, rising to...