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Date: Monday 06 Oct 2008

LONDON (ShareCast) - Shares in Leed Petroleum surged after the oil and gas company said it should soon start selling gas from its Eugene Island field in the Gulf of Mexico.

Leed said testing on the A-7 well in the Eugene Island field achieved rates equating to 4,012 barrels of oil equivalent per day, based on a conversion factor of one barrel of oil to 6,000 cubic feet of gas.

“The sale of production from this well is expected to commence imminently,” Leed said.

“The A-7 result is a great start to what we expect to be a tremendous financial year,” president and chief executive Howard Wilson said.

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