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Last 1.80 GBp
Change Today +0.30 / 20.00%
Volume 77.1M
LGO On Other Exchanges
Symbol
Exchange
London
Stuttgart
OTC US
As of 11:30 AM 07/30/15 All times are local (Market data is delayed by at least 15 minutes).

lgo energy plc (LGO) Snapshot

Open
1.43 GBp
Previous Close
1.50 GBp
Day High
1.83 GBp
Day Low
1.38 GBp
52 Week High
09/29/14 - 6.95 GBp
52 Week Low
07/29/15 - 1.13 GBp
Market Cap
54.9M
Average Volume 10 Days
66.1M
EPS TTM
-0.0024 GBp
Shares Outstanding
3.1B
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for LGO ENERGY PLC (LGO)

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lgo energy plc (LGO) Details

LGO Energy plc engages in the exploration and production of oil and gas. The company holds interests in the Goudron field, which is located in the Eastern Fields Area in southeastern onshore Trinidad; and Icacos field located in the extreme southwest of the island. It also has interests in the La Lora production concession, as well as Basconcillos-H, Huermeces, and Valderredible exploration permits in northern Spain. The company was formerly known as Leni Gas & Oil Plc and changed its name to LGO Energy plc in November 2014. LGO Energy plc was incorporated in 2006 and is headquartered in London, the United Kingdom.

31 Employees
Last Reported Date: 06/2/15
Founded in 2006

lgo energy plc (LGO) Top Compensated Officers

No compensation data is available at this time for the top officers at this company.

Executives, Board Directors

lgo energy plc (LGO) Key Developments

LGO Energy plc Announces Update on its Testing Operations at Drilling Pad 4 in the Goudron Field in Trinidad

LGO Energy plc announced an update on its testing operations at Drilling Pad 4 in the Goudron Field in Trinidad. A total of 506 feet of C-sand pay was perforated across the three wells and all three wells have produced oil to surface. Wells GY-672, 673 and 674 were tested in reverse order. The tests on GY-672 are continuing whilst the preliminary results of tests on GY-673 are being used to determine how best to balance production and reservoir management. The tests on GY-674 have been completed, and production will commence once surface facilities are in place. The production testing carried out on well GY-674 has provided the anticipated engineering information. The well delivered a natural flow rate of approximately 240 barrels oil per day ("bopd") when flowed with a 8/32-inch choke. An absolute open-hole flow rate of approximately 500 bopd has been estimated from the test results. Once the GY-673 data analysis has been completed, they expect that production from that well will be optimized by means of downhole pumping. Initial results from the tests at GY-672 suggest that a downhole pump may also be the most appropriate production approach on that well. Well testing is an integral part of longer term development planning providing vital data on factors such as flow capacity, reservoir deliverability, permeability and completion efficiency. The data obtained will also be valuable in planning for the expected enhanced oil recovery project.

LGO Energy plc Announces Goudron Drilling Update

LGO Energy plc announced that its latest development well, GY-675, at its Goudron Field development in Trinidad, reached total depth at 3,660 feet measured depth ("MD") on 30 June 2014. Electric log interpretation from both the Goudron Sandstone and C-sand intervals confirm the presence of recoverable hydrocarbons with the net hydrocarbon pay in the C-sand main target estimated as 260 feet. The next well, GY-676, in the 2015 program has now been spudded. Well GY-675 is the fourth of seven wells currently planned for 2015 and the first well from drilling Pad 5 in the north-east of the field. Net oil pay in the Goudron Sandstone was encountered between 630 and 1,560 feet with an estimated 330 feet of total net pay. The oil bearing C-sand interval was encountered between 2,015 and 3,020 feet MD. Net hydrocarbon bearing pay in the C-sand interval is estimated as 260 feet. These observed net pay zones are in line with expectations for this well. Well GY-675 has now been successfully cased for future production and the rig has been moved to the second location on Pad 5 where it has spudded the fifth well of the 2015 program, GY-676, which is planned to be drilled to a total depth of 3,640 feet MD (3,400 feet TVDss) at a location 325 feet north-west of the surface location. Well GY-676 is once again targeting a C-sand reservoir interval and the top Gros Morne sandstone reservoir (upper C-sand) is anticipated at 1,935 feet MD (1,700 feet TVDss).

LGO Energy plc Provides Goudron Pad 4 Testing and Infrastructure Update, Trinidad

LGO Energy plc announced its plans for the testing of the three recently drilled wells, GY-672, 673 and 674, on drilling Pad 4 at the Goudron Field, and provides an update on important infrastructure approvals and improvements that are designed to significantly increase oil sales capacity at the field from 2,750 barrels to over 12,000 barrels. The company has now received final approval for the completion of all three wells recently drilled from Pad 4 as production wells. A combined total of 556 feet of perforations are planned across the prolific C-sand intervals in the three wells. The equipment required has been mobilised to the field and work is anticipated to start later this week. Each well will be subject to a number of periods of flow testing up to 6 hours duration, followed by individual pressure build-up tests (pressure monitoring without flow) of approximately 24 hours. Once the test phase is complete, which may take up to 5 days per well, a stable flow rate will be selected to best manage the reservoir performance of the well in the short and medium term, and provide further information for the completion of further wells on the field. Oil produced from the wells during the test period will be sold. The company also confirmed that it has now received the necessary approvals to construct two 5,000 barrel sales tanks to supplement the existing 2,000 barrel main sales tank and two smaller tanks at Battery #134. The Company is commencing construction of the first of these new 5,000 barrel tanks and the second tank will be added as and when it is required. The installation of a lease area custody ("LACT") meter has therefore been rescheduled for no earlier than in the 4th quarter of this year. Petroleum Company of Trinidad and Tobago ("Petrotrin") has advised that the completion of the new 4-inch sales tie-in pipeline from Battery #134 to the main sales line and on to the Pointe-a-Pierre refinery remains outstanding pending a pipeline crossing agreement with a third party. In the interim additional pumping capacity has been installed on the existing 2 7/8-inch line, along with independent power generation, to eliminate any potential short term bottlenecks, with the additional production from new production wells.

 

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