The well is currently drilling ahead at a depth in excess of 350 feet.

Well GY-683, previously designated H18E G11(5), is targeting a net 200-foot thick Mayaro Sandstone pay interval at between 650 and 1,050 feet depth and the well is anticipated to be completed for production in approximately 14 days, immediately after drilling operations are concluded. 

GY-683 is the second of the programme of up to ten planned Mayaro infill wells during 2017 targeting light 38 API gravity sweet crude.

Neil Ritson, LGO's Executive Chairman, commented:

"The Goudron Field is the key focus of the Company's activities during 2017 as we continue to regain momentum in the business. We plan to double production through the infill drilling programme and progressing towards drilling in the South West Peninsula assets. The recent fundraising will allow these two activities' to proceed and as a result additional production and low risk wells can now be expected over the next few months."