Notification of change in shareholding

RNS Number : 4838A

Lansdowne Oil & Gas plc

24 March 2017

 

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).

Lansdowne Oil & Gas plc

Notification of change in shareholding

 24 March 2017

Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") has today been notified by KPMG LLP, the appointed administrators to SeaEnergy PLC that they have disposed of SeaEnergy's entire holding of 30,194,193 shares, representing 5.92% of the outstanding shares in the Company, through a number of on market transactions.

For further information please contact:

Lansdowne Oil & Gas plc Steve Boldy	[phone]

Cantor Fitzgerald Europe Nominated Advisor and Joint Broker Sarah Wharry David Porter

[phone]

Beaufort Securities 

Joint Broker                                                                                           [phone]

Jon Belliss

Notes to editors:

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focussed, oil and gas exploration and appraisal company quoted on the AIM market and head quartered in Dublin. Lansdowne holds acreage in the shallow-water North Celtic Sea Basin, including a 20% stake in Exploration Licence SEL1/11 which contains the Barryroe oil field.

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

ABOUT BARRYROE

Barryroe, located in the North Celtic Sea Basin, off the south coast of Ireland, has had six wells successfully drilled on the structure.  Hydrocarbons have been logged in all six wells, with flow test results from four wells. Four wells were drilled in the 1970's by Esso with a further appraisal well drilled in 1990 by Marathon Oil. The sixth well was drilled by Providence in 2011/12. The oil is light (43^o API) with a wax content of c. 17-20%. The successfully tested reservoir sands are of Cretaceous Middle and Lower Wealden age located between c. 4,500' TVDSS and 7,550' TVDSS. The field is covered by both 2D and 3D seismic, the latter which was acquired in 2011.

Audited (NSAI/RPS) on block resources amount to 1.048 billion barrels in place, with an estimated P50 recoverable resources of 311 MMBO (plus associated gas). A further 778 MMBO barrels in place have been identified in incremental sands, though these sands have yet to be tested.

 

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