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Leor Energy's East Texas Field Now among Biggest U.S. Discoveries in a Decade.

Gross gas production at its Deep Bossier play surpasses 200 MMcf/d in a world-class discovery that the Houston-based company expects will continue to grow substantially.

HOUSTON -- Leor Energy L.P. is pleased to announce that gross gas production from the Amoruso Field and its other properties in Robertson County, Texas, has reached 200 MMcf/d, and can now be comfortably counted as one of the top five largest onshore discoveries in the United States in the past decade.

Houston-based Leor, with its partner, EnCana, is producing from only 19 wells in the play, which ultimately is expected to include hundreds of wells. The company has three wells that are in the process of being completed, along with a total of eight wells being drilled in the play at this time.

"Based on the geology, we've always expected great things from the Amoruso Field," said Leor CEO Guma Aguiar. "But we're still in awe of the outstanding production numbers we are seeing. These sands are more impressive than anything seen onshore in a very long time."

Leor is proud of the fact that it has taken the production at its Amoruso Prospect from zero to more than 200 MMcf/d in less than a year and a half. Contributing to the daily numbers are the production rates of two of Leor's recent completions, which are producing 63 MMcf/d and 51 MMcf/d respectively.

Both wells are among the largest producing, onshore wells in the past decade. Aguiar expects production numbers will continue to increase substantially in Amoruso Field due to the amount of acreage that appears to be highly productive.

"We're still in the early stages of development," said Aguiar. "With the completion in the third quarter of this year of a 3-D survey currently underway across our Robertson County acreage position and the addition of some new wells, we look forward to ramping up production."

Leor currently has eight rigs running in the Deep Bossier and a 3-D shoot currently underway across its Robertson County acreage position. Leor expects to receive initial 3-D data deliveries during the third quarter of 2007.

About Leor Energy: Leor Energy, based in Houston, Texas, is one of the fastest-growing privately held oil and gas exploration and production companies in North America. Leor is an active player in the Deep Bossier trend, one of the most promising recent unconventional gas exploration plays. Including its interests in Amoruso Field, which is operated by a subsidiary of EnCana Corp. (NYSE:ECA), Leor Energy holds interests in over 150,000 acres in the Deep Bossier trend. Over the next twelve to eighteen months, Leor plans to drill several exploratory wells targeting Deep Bossier sands outside of its Amoruso prospect. Other companies currently active in the Deep Bossier trend include: Anadarko Petroleum Corp.; Chesapeake Energy Corp.; ConocoPhillips; Devon Energy Corp.; Gastar Exploration Ltd.; and XTO Energy Inc.
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Publication:Business Wire
Date:Apr 5, 2007
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