Leed Petroleum, an oil and gas exploration and production company focused on the Gulf of Mexico, has said that the evaluation of its recently drilled A-6 well at Ship Shoal Block 201 in the Gulf of Mexico is complete that has tested at a restricted rate of 10.4mmcfd and 423bopd (a combined rate of 2,153boepd).

The A-6 well reached its total depth of 13,341ft on February 17, 2010 and the electric line logs has confirmed that the well encountered 65ft of true vertical thickness pay in its primary objective. Independent reservoir auditing firm, Collarini Associates of Houston, Texas, attributes net 2P reserves of 1.3 million barrels of oil equivalent to the reservoir (84 % natural gas).

Net proved reserves are 5,615mmcf of natural gas and 171MBbls of condensate together with net incremental probable reserves of 951mmcf of natural gas and 29MBbls of condensate.

On March 4, 2010, the well was flow tested after initial clean up for six hours at a stabilized gross rate of 10.4mmcfd and 423bopd with minimal completion fluid production on a 29/64 choke at a flowing tubing pressure of 2519psi. The company has a 100% working interest and an 80.2% net revenue interest in the well.

The company said that the Ship Shoal 201 A-6 well was drilled from the recently acquired Ship Shoal 202 A platform, which will enable the rapid commencement of production, which is expected to occur during the second quarter of 2010. The drilling and completion operations were over within the $9.8m budget allocated for the well.

Ship Shoal Block 201 is located 125 miles offshore, southwest of New Orleans, Louisiana in approximately 102ft of water.

Howard Wilson, president and chief executive of Leed Petroleum, said: “Having come in on budget on the drilling and completion of the first well and with no initial cash outlay required to acquire the Ship Shoal 202 A platform, we are delighted to have begun our renewed drilling program with a commercial success.

“The company will move ahead with drilling projects at the Sorrento Dome and South Marsh Island fields as well as production enhancement in the Eugene Island 183 field.”