The Company intends to remain focused on the Gulf of Mexico region, where the Directors believe it has a depth of experience. Leed plans to substantially increase its existing reserves and will seek to convert its undeveloped, probable and possible reserves to proved producing reserves. In order to control operational efficiencies, cash and expenditures the company aims to operate its assets.
The Company will also seek to grow through a three-tiered acquisition strategy:
- participation in Gulf of Mexico US Minerals Management Services (MMS) lease sales, primarily in the central Gulf of Mexico region
- identifying and purchasing under-exploited assets from other large independent oil and gas companies; and
- partnership arrangements on acreage owned by other large independent oil and gas companies to explore or develop reserves that would otherwise not be produced.