Leni Gas & Oil Company Update
LGO today announces that, after careful consideration, the Board has decided not to petition the Court of Appeal in its case brought in January 2013 against Mediterranean Oil and Gas plc. The Company will remain focused on its core oil production business in Trinidad; where a major 30 well development program is now underway at the Goudron Field, and in Spain.
The Company was notified yesterday that Well Services Rig 20 had arrived at the Goudron Field and the spudding of the first new development well at Goudron since 1981, well H18 EJ-7, is now expected to occur over the weekend. LGO will keep shareholders informed of further developments as they occur.