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Lansdowne Oil & Gas - Completion of Barryroe Site Survey

RNS Number : 3640M
Lansdowne Oil & Gas plc
16 September 2019
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Steve Boldy, the Chief Executive Officer of the Company (responsible for arranging release of this announcement).

 

16 September 2019

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

Standard Exploration Licence 1/11

Barryroe, North Celtic Sea Basin

 

Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused, oil and gas company, notes the announcement today by Providence Resources P.l.c. regarding Barryroe, which reads as follows:

 

Operational Update

Standard Exploration Licence 1/11

Completion of Barryroe Site Survey

 

Dublin and London - September 16, 2019 - Providence Resources P.l.c. (PVR LN, PRP ID), the Irish based Energy Company ("Providence" or the "Company"), today provides an operational update in relation to Standard Exploration Licence ("SEL") 1/11 which contains the Barryroe oil accumulation (the "Barryroe Project").  SEL 1/11 is operated by EXOLA DAC ("EXOLA" or the "Operator", 40%), a wholly-owned Providence subsidiary, on behalf of its partners, APEC Energy Enterprises Limited ("APEC") and Lansdowne Celtic Sea Limited ("Lansdowne", 10%), collectively the "Barryroe Partners".  The area lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland.

The Barryroe Partners confirm the completion of the Barryroe site survey, which comprised a seabed debris clearance, environmental baseline and habitat assessment survey over proposed well locations A & B in the Barryroe field within SEL 1/11.  The site survey over proposed well locations C & D in the Barryroe field can now be carried out as part of a separate campaign.  The site survey was completed ahead of schedule and under budget due to excellent vessel performance and overall favourable weather conditions.  Gardline's M/V Kommandor survey vessel has now left the Barryroe field area.

 

For further information please contact:

Lansdowne Oil & Gas plc

+353 1 963 1760

Steve Boldy




SP Angel Corporate Finance LLP

+44 (0) 20 3470 0470

Nominated Adviser and Joint Broker


Lindsay Mair


Richard Hail


 


Brandon Hill Capital

+44 (0) 20 3463 5061

Joint Broker


Oliver Stansfield


 

Notes to editors:

 

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focused, oil and gas exploration and appraisal company quoted on the AIM market and head quartered in Dublin.

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com 

 

About Providence Resources

Providence Resources is an Irish based Oil & Gas Exploration Company with a portfolio of appraisal and exploration assets located offshore IrelandProvidence's shares are quoted on the AIM in London and the Euronext Growth Market in Dublin. Further information on Providence can be found on www.providenceresources.com 

 

About APEC

APEC Energy Enterprise Ltd. was established in 2014 as a Hong Kong registered company with headquarters in Beijing. In addition to its original focus on offshore oil & gas services, APEC provides upstream energy acquisition advice and management services in partnership with Chinese Oil Companies, offshore and onshore service providers, and SOE investment groups. www.apecenergy.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Price: 2.195

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Market Cap: £17.57 m
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