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LON:LOGP

Lansdowne Oil & Gas

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Market:
LON
Market Cap:
£11.64 m
Price
£0.02
Change
-4.11%
52 weeks high
3.00
52 weeks low
1.00

In brief

Lansdowne Oil & Gas plc is an independent oil and gas exploration company listed on the AIM market of the London Stock Exchange  since April 21st, 2006. Lansdowne has its operating headquarters based in Dublin, Ireland with its registered office in London, England.

Lansdowne is focused on oil and gas exploration and appraisal opportunities in the North Celtic Sea Basin (“NCSB”) offshore southern Ireland. Lansdowne, as operator, holds rights, through its wholly owned subsidiaries, to five Standard Exploration Licences and one Licensing Option in the proven oil and gas prone shallow waters of the NCSB.

Lansdowne’s portfolio consists of Cretaceous gas exploration and appraisal assets that primarily flank the Kinsale Energy ( PETRONAS) operated Kinsale Head and Seven Heads gas-fields and associated infrastructure. Lansdowne, through the acquisition of Milesian Oil & Gas Limited in December 2007, acquired a substantial position along the basin margin in already identified Jurassic exploration targets with potential for oil and gas. Lansdowne further consolidated its position in the NCSB with the award of a Licence 1/11 giving it, and its joint-venture partner, rights to the proven oil productive horizons beneath the Seven Heads gas-field discovered by the Esso/Marathon consortium in the 1970s. Oil from Cretaceous reservoirs was successfully tested at flow rates of between 1,300 bopd and 1,600 bopd, from three previously drilled wells on what is now called the Barryroe Oilfield. Lansdowne, as a 20% equity partner, recently participated in the successful Barryroe 48/24-10z appraisal well that tested 3514bopd in March, 2012.

Lansdowne has targeted the Irish offshore shallow shelf areas for exploration and exploitation as it considers the proven oil and gas productive NCSB relatively underexplored in the context of the North Sea neighbouring basins. Lansdowne’s portfolio of opportunities offers a relatively low-cost shallow water drilling environment that combined with competitive fiscal terms afford a realistic expectation of high returns on investment within the medium term. Lansdowne’s in-house knowledge and experience as provided by its management and technical team, coupled with its comprehensive data-base, assures its competitive advantage within the industry in this region.