Leni Updates Workover Ops at Spanish Wells

- Leni Updates Workover Ops at Spanish Wells

Thursday, May 26, 2011
Leni Gas & Oil plc

Leni announced further details of the well work-over operations being performed at its 100% owned Ayoluengo and Hontomin Oilfields in Northern Spain.

As planned, Société de Maintenance Pétrolière ("SMP") and Services Pétrolièrs Schlumberger ("Schlumberger") were mobilized to the field in the week of April 26, 2011. The SMP-2 rig and the Schlumberger wireline unit have been used in tandem with the Company-owned Cardwell work-over rig to advance work on two wells simultaneously.

As previously announced in March, the work program is focused on six high productivity wells in the central area of the Ayoluengo Field (Ayo-4, 5, 32, 36, 37and 46) and will additionally include the perforation of approximately 40 meters of previously untapped reservoir in the Hontomin-2 well on the nearby Hontomin Field.

To date, wells Ayo-4, Ayo-5 and Ayo-32 have been logged. Wells Ayo-4 and 5 have been perforated and both have been recompleted for production. In well Ayo-4 a total of 23.7 meters of new perforations were added and 25.2 meters of existing open perforations re-perforated. In well Ayo-5 new and repeat perforations were 16.9 and 19.9 meters respectively. Re-perforation is intended to help remove scale build-up and increase the area of contact between the reservoir and the well bore.

Wells Ayo-4 and 5 have been returned to production and the completion of Ayo-32 is expected to be concluded within a week. Well Ayo-5 continues to clean up, stable flow rates have not yet been measured, however, based on the electric logs run in the well it is believed that additional production capacity will be achieved over the next few weeks. Well Ayo-4 was placed back on production on the 25 May 2011 and production data is not yet available.

The SMP-2 rig has now been moved to well Ayo-37 and operations are underway with 5 meters of new perforations and at least 28 meters of re-perforating planned. Additionally, an electric down-hole submersible pump will be installed in well Ayo-37 when logging and perforation operations have been completed. The CPS Cardwell rig will shortly be moved to Hontomin-2 to prepare the well for perforating.

Neil Ritson, LGO Chief Executive commented, "We are very happy with our progress so far and remain on time and budget with about 45% of the program completed. It is too early to predict the production impact of the work, however, the amount of previously untested net pay we have been able to access is slightly more than was estimated in the initial plan."

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Leni Briefs Final Details for Spanish Work-Over Ops

Leni Briefs Final Details for Spanish Work-Over Ops

Wednesday, April 13, 2011
Leni Gas & Oil plc

Leni announced final details regarding its planned work-over operations at its 100% owned Ayoluengo and Hontomin Oilfields in Northern Spain.

The Company's Spanish subsidiary Compania Petrolifera de Sedano S.L. has signed contracts and agreed work scopes with both the Société de Maintenance Pétrolière ("SMP") and Services Pétrolièrs Schlumberger ("Schlumberger"). The Company has also received all outstanding permits and authorizations from the Spanish authorities in order to commence the planned work-over program announced on March 17, 2011.

Schlumberger will provide all necessary wireline logging and perforating services, as well as cementing services if required, and SMP will supply their 80-tonne "SMP-2" drilling unit which will be used in conjunction with the Company owned Cardwell 45-tonne rig to ensure overall smooth operations. Mobilization to the field will commence shortly and the program is expected to get underway on April 26, 2011.

As announced in March, work will initially focus on six high productivity wells in the crestal area of the Ayoluengo Field (Ayo-4, 5, 32, 36, 37and 46) and the perforation of approximately 45 meters of previously untapped reservoir in the Hontomin-2 well on the nearby Hontomin Field. Each Ayoluengo well will be cleaned out, re-perforated over existing intervals, some new intervals will be perforated and the casing and production tubulars will be repaired. Additional cementing operations will be selectively undertaken to improve water shut-off where this is required. A progressive cavitation pump (PCP) will be installed in well Ayo-37 to increase the production and reliability of that well. Depending on initial results up to four additional wells (Ayo-18, 35, 38 and 44) may be added to the program at Ayoluengo.

The estimated production capacity from the work-over program ranges from 300 to over 500 barrels oil per day. The initial seven well program is expected to be completed within 60 days.

Neil Ritson, LGO Chief Executive commented, "We are very pleased to be undertaking this work which will immediately benefit both the production levels and cash flow from our Spanish operations. This is of course especially beneficial at a time of high oil prices. Successful results from this initial program will lead to further investment in the field facilities and the completion of additional wells."

BNK Petroleum Subsidiary Scoops Up Spanish Concession

BNK Petroleum Subsidiary Scoops Up Spanish Concession

Tuesday, April 12, 2011
BNK Petroleum Inc.

BNK Petroleum announced that its wholly owned subsidiary Trofagas Hidrocarburos, S.L., has been awarded an oil and gas concession in the Autonomous Community of Cantabria, Spain totaling approximately 61,470 acres. This concession brings the Company's total acreage in Europe to about 3.6 million net acres in 5 separate basins.

This new concession located in the Cantabrian basin of Spain was acquired for a shale gas target. The Concession contains certain minimum requirements, which must be fulfilled by BNK to retain its interest. Some of the more significant minimum requirements consist of conducting geological work in the first year, drilling one vertical well each in years two, four, five and six.

Wolf E. Regener, BNK's President and CEO commented, "We are very pleased that we have been granted our first concession in Spain and are encouraged by the data we have gathered over the last two years. The shale gas data collected in Spain looks very promising. We look forward to developing shale gas in Spain both for our shareholders and the country of Spain."

Poland

The Company also announced that the Lebork S1 well on the Slupsk Concession is currently drilling at 3,517 meters, with over 220 meters of core taken. The core will be analyzed over the coming weeks. The Company anticipates that it will complete drilling and logging in the next week, at which time it will release an update with the available data. The majority of the analysis of the sidewall cores from the Wytowno #1 well are expected back from the subcontractor in May. The 1st well on the Starogard concession is expected to begin drilling sometime in June.