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Former BP executive and Regal Petroleum CEO, Neil Ritson took over as CEO at LGO in Nov 2010. Since then the company's fortumes have taken a sharp turn for the good and is already starting to deliver stong production growth at it's Spanish assets.


There is major potential in Spain where it is re-developing a known field with 104 million barrels OIP (P50)

 Discovered in 1964 by Chevron

 Largest onshore field in Spain, 53 wells

 37oAPI fuel oil grade low sulphur crude

 Total production 17 mmbbls, peak in 1969

 Remaining oil in place 104 mmbbls (P50)

 Original facilities handling 10,000 bopd

 Acquired by LGO in October 2007

 Future potential in EOR and deeper targets


Latest operations update demonstrates strong production increase from a workover of just 7 of the 53 wells.


Latest ops update:--



Will be developing on existing Trinidad production within months and announcing a further acquisition there shortly.


Has a small interest in a Gulf of Mexico producing field with further production to come there also.


Further interest in an offshore exploration project in the Mediterranean with MOG


Latest Presentation



Very strong potential here for major increase in the SP. The new mangement have started to transform this company and are delivering.


Chart looking ready for a strong upside break -- Further production update expected soon in Spain and farm‐in to exploration and

production leases in Trinidad at HoA stage -- expect announcement shortly.






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  • 3 weeks later...

25 July 2011




Farm-in Trinidad


Leni Gas & Oil plc today announces an agreement to farm-in to the Advance Oil Company (Trinidad) Limited ("Advance") North Moruga area leases. LGO plans to work-over existing producing wells and drill up to nine (9) new wells on the leases.



The Heads of Agreement with Advance sets out the framework for a full farm-in agreement and joint operating agreement by which LGO will:



· take over operatorship of the Advance leases,


· reactivate production from the existing wells on the leases,


· drill a minimum of three (3) exploration and up to six (6) development wells,


· obtain an immediate 33% interest in net production revenues,


· on conclusion of the farm-in work programme, and depending on the number of wells drilled, earn between 33% and 49% interest in the Advance leases.



Full release:--





Also further production to come on line this week after the workover and perforation over a new 40 metre reservoir zone at their Hontomin well in Spain.



CEO Neil Ritson is delivering.

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