Production testing commences on well GY-675

Initial production rate well GY-675, Goudron Field, Trinidad

LGO has announced that production testing has started on well GY-675, the first well drilled on Pad-5 in the Goudron Field in Trinidad. After initial clean up the well delivered a natural flow rate of approximately 325 bpd through a 7/32 in. choke with a well head flowing pressure of 640 psi. The measured oil gravity was 43 degree API. The well was completed over a 95 ft interval in the C-sand reservoir below 1750 ft TVDss.

The well is now undergoing a series of production tests in line with the Company's policy on data gathering from new wells.

Neil Ritson, LGO's Chief Executive, commented:

"We are delighted that the first of the Pad-5 wells has been completed successfully and is giving early indications of excellent flow characteristics. Elsewhere on the field GY-678, the currently development well, is at 1484 ft MD where the 9 5/8 in. casing is being set. The well should reach planned TD in the next few weeks."

Qualified person's statement:

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chief Executive Officer and Director for LGO Energy plc, who has over 35 years of relevant experience in the oil industry. Mr. Ritson is a member of the Society of Petroleum Engineers (SPE), an Active Member of the American Association of Petroleum Geologists (AAPG) and is a Fellow of the Geological Society of London.

Published on 20/08/2015

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