TIDMLGO

RNS Number : 8569X

LGO Energy PLC

27 February 2017

For Immediate Release, Embargoed until 7 am

27 February 2017

LGO ENERGY PLC

("LGO" or the "Company")

Drilling Update, Trinidad

LGO can today confirm that Rig#18 has now been successfully mobilised to the Goudron Field where it has been contracted to drill at least two infill wells to the Mayaro Sandstone reservoir. Drilling operations are now expected to commence in the next week.

As previously announced, the first well, H18E N4, which is expected to be designated GY-682 at spud, is targeting a net 200-foot thick Mayaro Sandstone pay interval at a depth between 300 and 1,000 feet depth and the well is anticipated to be completed for production immediately after drilling operations are concluded.

Enquiries:

 
 LGO Energy plc              +44 (0) 203 794 9230 
 Neil Ritson 
 Fergus Jenkins 
 
 Beaumont Cornish Limited    +44 (0) 20 7628 3396 
 Nomad 
 Roland Cornish 
 Rosalind Hill Abrahams 
 
 FirstEnergy Capital LLP     +44 (0) 20 7448 0200 
 Joint Broker 
 Jonathan Wright 
 David van Erp

Glossary:

 
 pay and net        a reservoir or portion of a reservoir 
  pay                formation that contains economically 
                     producible hydrocarbons. The overall 
                     interval in which pay sections occur 
                     is the gross pay; the portion of 
                     the gross pay that meets specific 
                     criteria such as minimum porosity, 
                     permeability and hydrocarbon saturation 
                     are termed net pay 
-----------------  --------------------------------------------- 
 Mayaro Sandstone   alternative name for the Goudron 
                     Sandstones occurring at stratigraphic 
                     intervals above the pre-Mayaro unconformity 
-----------------  ---------------------------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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