Eugene Island well hits pay

Offshore staff

LONDON -- The Eugene Island A-7 well in the Gulf of Mexico has hit pay at a measured depth of 13,958 ft (4,254 m), according to Leed Petroleum. The well is on schedule to reach total depth in 3Q 2008.

Electric line logs encountered 34 ft (10 m) of true vertical thickness pay while drilling the well. The company had previously identified the formation as a zone of interest but it was not a primary objective of the well. The company will continue to evaluate this sand as drilling continues toward the primary objectives.

The Eugene Island blocks are located 50 mi (80 km) offshore, south of Morgan City, Louisiana in the GoM in approximately 80 ft (24 m) of water.

"We are pleased to have found pay in the A-7 well before reaching any of the targeted objectives, which offers potential further upside from the well," says Howard Wilson, president and chief executive of Leed Petroleum. "While the discovery of this zone is good news, drilling continues and we await the results of the more promising objectives at deeper depths."

05/23/2008