LGO has spudded a well in its Goudron Field.
Well GY-672 was spudded on April, 15 and log interpretation has confirmed the the presence of recoverable hydrocarbons.
Well GY-672 is the first of the seven well program in 2015 being drilled from Pads 4 and 5.
The Goudron Sandstone was encountered between 1,100 and 1,700 feet measured depth with an estimated net oil pay totaling 336 feet.
The oil and gas bearing C-sand interval was encountered at a depth of 2,460 feet MD and the total depth of the well was 3,608 feet MD.
Neil Ritson, LGO’s chief executive, commented: “Our first well for 2015 has been drilled in record time and on prognosis geologically, discovering oil in the Goudron and C-sand sections as expected.
“We anticipate completing the well as a C-sand producer in June along with the two other wells yet to be drilled from this surface location.
“The next well, GY-673, will be spudded imminently.”