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Date: Thursday 09 Oct 2008

LONDON (ShareCast) - US-focused oil explorer Leed Petroleum has started drilling on the A-8 well in the Gulf of Mexico. The A-8 well is in Leed's Eugene Island blocks and expected to reach total depth in the first quarter of 2009. The Eugene Island A-7 well has also commenced commercial production, Leed added.

"Spudding of the A-8 well reflects the success to date of the Eugene Island drilling programme. This well will develop and expand on reserves encountered in the A-6 well and will also test one exploratory objective. Production rates from the A-7 well are substantial and we expect this to make a significant contribution to Leed's future financial performance, " chief executive Howard Wilson said.

Senior management of Newcourt are mulling a buy-out of the Irish outsource company. Newcourt says there is is little appetite among investors for smaller quoted stocks and Ted O'Neill, Chief Executive, Phil Sykes, non-executive Director and Hugh O'Neill, executive director, the original founders of Newcourt are looking for the funds to take it private.

Translation software group SDL has been selected by Genzyme Europe to supply a Global Information Management system that meets the new Regulatory Translation Management requirements in Europe.

Africa focussed oil and gas firm Afren said it has entered into a strategic alliance with Japanese conglomerate Sojitz to pursue significant acquisition opportunities in Africa.

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