Leed finds secondary target in Eugene Island well

Leed Petroleum has successful drilled the secondary target zone on its Eugene Island A-6 development well.

Offshore staff

LONDON -- Leed Petroleum has successful drilled the secondary target zone on its Eugene Island A-6 development well.

Analysis of the well logs acquired over the secondary target zone indicate a productive gas reservoir has been encountered with approximately 51 ft (16 m) of true vertical thickness pay.

The well has reached a measured depth of 15,876 ft (4,839 m) and drilling continues to the third target zone. On completion of the drilling, Leed will case the remaining section of the A-6 development well and carry out production tests to determine flow rates. The refurbishment of existing facilities to accommodate production from the well is in the final stages and the company expects to begin producing hydrocarbons shortly after well completion.

02/28/2008

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