Project Profile

Value: Undisclosed
Location: 13 miles west of Goudron field, southeastern Trinidad
Reserves: 68 million barrels (with the potential of up to 200 million barrels)
Production: between 140 and 150 barrels of oil per day
Area: 810 acres
Depth: between 1,500 and 5,000 feet
Start-up Year: 2010

Leni Gas & Oil has signed a deal to acquire a 100-percent interest in the producing Trinity-Inniss field in southeastern Trinidad. The Trinity-Inniss field is located approximately 13 miles west of Leni\'s existing Goudron field operations, onshore Trinidad, and covers an area of 810 acres. It also has operational sales tanks and export facilities. Current production from the Trinity-Inniss field averages between 140 and 150 barrels of oil per day from approximately 25 active wells. This production is derived from the Herrera Sandstone at depths of between 1,500 and 5,000 feet. Oil quality ranges from 28 to 38-degree API and is sold by means of a Petrotrin-owned pipeline to the Petrotrin refinery at Pointe-a-Pierre. Leni has identified approximately 20 well reactivation targets and that there is \"considerable\" infill drilling potential within the field area. The firm added that there is an existing certificate of compliance that was granted in 2012 for the drilling of 12 new wells and 50 sidetracks and replacement wells. Oil original in place has been estimated at 68 million barrels (with the potential of up to 200 million barrels) while historic production has totalled 23 million barrels.

Operators:

Leni Gas & Oil: Operator with 100% interest