Leni Gas and Oil. Alerts on! News sought!

 

Herculean effort

 

Well it finally looks like  some in the market are now turning their attention to Leni.

Alerted here at 8.05am.

News is now being sought re’ this company. When market brokerages get the bit between the teeth you can be assured that pressure is being brought to bear on Leni for information which may result in a company announcement being forced from Leni.

Of course Leni are heavily investing in their Spanish assets vis-a-vis production infrastructure. Some would have you believe that this spending isn’t indicative of a company that are having to make a Herculean effort to bring about  transformational production and asset potential. The writing is on the wall here.

A Billion Boe potential needs to be properly managed which is WHY Leni are spending on infrastructure!

Wake up and smell the coffee. This is straight from the Leni epistle of 30th Sept 2010.

Increase in Spain resources to 174 mmboe mean STOIIP of the existing eleven prospects

·      Identification of two new substantial oil and gas prospects in Spain with potential for a possible total Company in-country resource base of 1 billion boe.

TARGETS TO END 2010

·      Expand production base in Spain with two producing assets

·      Increase processing capacity in Spain for delivering sales oil to multiple customers

·      Commence oil sales to BP and other new customers

·      Deliver on the initial stages of the revised Spain exploitation strategy for both production and exploration assets

·      Increase reserves and resources in Spain with full appraisal of the new prospects

·      Complete new agreement for enhanced oil recovery projects in Spain

·      Complete new agreement for appraisal of deeper resources

·      Expand production base in GoM with three producing assets

·      Increase production capacity of the Eugene Island field

·      Initiate production of Ship Shoal and South Marsh Island developments

·      Exercise options in GoM for direct working interests in additional development assets

·      Commence new production licence in Trinidad

·      Expand production capacity of the Icacos field

·      Commence subsurface surveys of Trinidad prospects for future exploitation

·      finalize pre-drilling plans for first Malta exploration and appraisal well

David Lenigas, Executive Chairman, commented:

“The last six months have seen progress across all areas of operations, most notably including the identification of two potentially company transforming new prospects in Spain. We have also seen a pleasing increase in reserves and resources on our Gulf of Mexico acreage and good pre drill activity in Malta. Over the next reporting period, the Company is planning to accelerate development plans in all countries, especially Spain, to have multiple producing assets in both Spain and the Gulf of Mexico, to progress appraisal of the deeper prospectivity and exploration prospects in Spain, to commence production expansion operations in Trinidad, and to have sufficiently progressed the pre-drilling plans in Malta to commence well planning.”

So here we have the executive Chairman telling the market that Leni have two possible COMPANY TRANSFORMING ASSETS!  Yet we still have investors and naysayers posting nonsense! Of course it will not happen over-night it will take many years with the company hitting the buffers many times. Placings galore with the usual dilution along the way this is the way of AIM stock. Decide to invest or trade?

Hola!

Daniel.

NB; The blog does not tell investors to buy any stock it points out potential and asks those interested to FULLY RESEARCH and decide on the merits.

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