Leed provides operational updates

Leed Petroleum PLC announces that drilling operations are now underway for the Eugene Island A-7 well. The well was spudded on 17 April 2008 and will test a development objective as well as other exploration zones. The A-7 well is expected to reach total depth in the third quarter of 2008 and the results of the drilling will be announced in due course.

The Eugene Island Blocks are located 50 miles offshore, south of Morgan City, Louisiana in the Gulf of Mexico in approximately 80 feet of water. Leed’s management has built an inventory of development projects and exploration targets across the Eugene Island Block 183/184 Field.

Howard Wilson, President and Chief Executive of Leed, said, following the recent success of our A-6 well, we are pleased to announce the continuation of the Eugene Island 183/184 drilling programme with the spudding of the A-7 well. Our technical team has designed a well plan to test multiple objectives, each of which has the potential to make a substantial impact to the Company’s production.