Leni Gas and Oil plc Investor Update, Manchester Neil Ritson 9 September 2014 London (AIM): LGO 1
Company Profile London Stock Exchange - listed March 2007 Producing Oilfields - Trinidad and Spain London HQ Spain Trinidad Staff - 50 (All local) Net Production Capacity - approx. 1000 bopd 2P Reserves - 7.6 mmbbls Market Cap…
London Management and Board of Directors Chairman Steve Horton Holds a BSc in Mining Engineering and an MBA. He has 35 years experience working in the energy industry including 27 years with BP plc where he held executive roles…
SPAIN Ayoluengo Field, Cantabrian National Park, Spain 4
Current Activity Preparing for a Concession Extension application; 2017 to 2027 Final phase of obtaining a production concession at Hontomin Active well clean out programme and plan to reactivate several wells e.g. Ayo-35,…
Future Potential Enhance production through the side-tracking of existing wells Development of Hontomin as a low cost satellite using existing 3D seismic and re-entry of existing wells Development of the Tozo gas discovery as a…
TRINIDAD 7
Current Trinidad Assets Trinidad Head Office, San Fernando Goudron IPSC (100%) with 2P reserves of 7.2 mmbbls and over 60 mmbbls of contingent resources associated with a future water flood HOA to acquire the Trinity-Inniss IPSC from…
Goudron Phase 1 Reactivate wells Repair and enlarge infrastructure Goudron well GY-257 Reactivated 2012 9
Goudron Phase 2 - Results to date Spudded first well, GY-664, on 28 April 2014 Completed well GY-664 on 30 May in 278 feet of Gros Morne GY-665, TD on 8 June GY-666, TD on 1 July GY-667, TD on 30 July GY-668, TD on 27 August…
Well GY-664 First new well on the field for over 32 years Drilled from the central camp area Found 571 feet of net oil pay within 3 reservoirs Completed over an interval of 278 feet of Gros Morne Initial flow rate 240 bopd…
Constrained production rate Production of 240 bopd through a 7/32-inch choke 12
Excellent log characteristics in all wells 130 foot Gros Morne sandstone in GY-667 13
Expectations to end 2014 Move Rig 20 to Pad 3 Complete wells GY-665 to GY-668 individually as Gros Morne producers Test GY-667 at Lower Cruse level to establish potential production characteristics Place new 2,000 barrel…
Trinity-Inniss 15
Trinity-Inniss Asset Summary Petrotrin IPSC field 20 km from Installing new well tanks Goudron Current production 140-150 bopd from approx. 25 active wells Herrera Sandstone at depth of 1,500 5,000 feet Five tank batteries and…
Trinity-Inniss Current Status Due diligence on technical aspects Installing new well tanks has been concluded Due diligence on the corporate aspects is ongoing and expected to be completed mid-September Negotiation of a final…
Cedros Peninsula 18
LGO Cedros Lease Position Installing new well tanks Beach Oilfield Cedros Leases FRM-1 Deep Well TED 3D Seismic LGO Cedros Leases Icacos Field Bonasse Field Icacos Leases Galpha Point 19
Plans for the Cedros In collaboration with Beach Oilfield Installing new well tanks and Dr Krishna Persad; re-evaluate all existing data and wells Acquired a soil geochemistry survey to isolate micro-seepage and areas of…
Financials 21
Revenue: 2010 to 2014E 12 Trinidad (new production) Trinidad (current wells) 10 Spain Goudron US production coming on line in 8 Q3 2014 6 5.9m 4 Current 3.4m 3.35m Production 2.3m 2 0 2010 2011 2012 2013 0 2014…
Gross Profit: 2010 to 2014E 3.25 Trinidad (new production) Trinidad (current wells) 2.75 Goudron Spain production US coming on line in 2.25 Q3 2014 1.75 1.25 1.06m 1.09m 1.12m Current Production 0.75 0.5m 0.25 2010 2011…
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