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Leni Gas & Oil confirms oil pay in third new well

Published: 16:46 24 Jun 2014 AEST

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Leni Gas & Oil (LON:LGO) has confirmed oil in the Goudron reservoir interval in the GY-666, in Trinidad.

It said 185 feet of net oil pay has been unearthed in the well, which is the third new well in a thirty well programme.

Like in the two prior wells, the main target is the deeper Gros Morne.

The well is currently at a depth of 1,667 feet and drilling will soon resume to deepen the well. The Gros Morne target is anticipated at 2,050 feet.

"The drilling campaign remains on course and continues to give encouraging results,” said chief executive Neil Ritson.

“Below the Goudron sands in GY-666 we have encountered gas shows and pressures similar to those seen in the recent GY-665 well at Gros Morne level and are therefore expecting to drill a productive primary reservoir in the next week."

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