The company has drilled the well up to a depth of 1,905ft aimed to isolate the Goudron Sandstone and the high pressure Upper Gros Morne gas intervals.
Further drilling is underway to the primary Gros Morne Sandstone oil target which is expected at approximately 2,180ft true-vertical depth (TVD).
LGO chief executive Neil Ritson said, "The drilling campaign remains on track and continues to give very encouraging results.
"Below the oil pay in the Goudron sands we have again encountered a gas zones with pressures similar to those seen in the recent GY-666 well. We expect to drill the productive primary oil reservoir in the next week."
The Well GY-667 is scheduled to be drilled to a total depth (TD) of 3,600ft TVD, which is equivalent to 3,840ft measured depth (MD) at a bottom-hole location that is approximately 590ft south east of the surface location.
Additionally, the well will assess the potential reservoir presence of the Lower Cruse at this location.
Upon reaching TD, the well will be logged and cased ready for completion as a production well.
Following completion of drilling operations on GY-667, the fourth well from the current pad, GY-668, will be drilled immediately.
