Operational Update

RNS Number : 6629J

Lansdowne Oil & Gas plc

04 July 2011

 



 July 4^th, 2011

OPERATIONAL UPDATE

 LANSDOWNE OIL & GAS COMMENCES 3D SEISMIC ACQUISITION OVER THREE PROSPECTS IN THE NORTH CELTIC SEA

Lansdowne Oil & Gas plc ("Lansdowne") the oil and gas exploration company whose shares are listed in London (AIM), is pleased to announce that it has commenced 3D seismic operations on its Amergin, Rosscarbery and Midleton Prospects in the North Celtic Sea, off the south coast of Ireland. The surveys are being shot using the seismic vessel Polarcus Samur and are expected to take approximately 20 days to completion.

The Polarcus Samur has just successfully completed 3D seismic acquisition over the Barryroe oil discovery announced today by Providence Resources Plc ("Providence") on behalf of the Barryroe consortium. Providence announced that the survey forms part of the planned pre-development drilling programme on Barryroe, where drilling is scheduled to commence in September utilising the already contracted semi-submersible rig, the GSF ARCTIC III. Providence operates Barryroe (50%) with partners San Leon Energy (30%) and Lansdowne Oil & Gas (20%).

Steve Boldy, Chief Executive Officer of Lansdowne, commented:

"We are delighted with the completion of the Barryroe 3D seismic survey and the advancement to appraisal drilling later this year. Furthermore, Lansdowne's own 3D seismic surveys are an important phase in its plans for de-risking the Rosscarbery, Midleton and Amergin prospects ahead of farming down and further exploratory drilling next year"

Contacts:

Lansdowne Oil & Gas plc

Steve Boldy                              Chief Executive Officer                         [phone]

Chris Moar                               Finance Director                                   [phone]

finnCap

Sarah Wharry                                     Corporate Finance                                          [phone]

About Lansdowne Prospects

Standard Exploration Licence 4/07 - Midleton

Licence 4/07 incorporates part-blocks 49/11, 49/12, 49/17 and 49/18 immediately south-east of the Kinsale Head Gas field along the axis of the North Celtic Sea Basin. The licence encompasses an area of 542 sq. kms and is currently held 100% by Lansdowne. This licence contains the low-risk Midleton and the East Kinsale gas satellite prospects

Standard Exploration Licence 5/07 - Rosscarbery

Licence 5/07 incorporates part-blocks 48/17, 48/18, 48/19, 48/22 and 48/24 adjacent to and immediately north-west of the Kinsale Head Gas field along the axis of the North Celtic Sea Basin. The licence encompasses an area of 365.81 sq. kms, lies in water depth of circa 100 metres, and is currently held 99% by Lansdowne as operator. This licence contains the Rosscarbery, SE & West Rosscarbery gas satellite prospects along with the Galley Head Gas field and the Carrigaline gas discovery.

Standard Exploration Licence 5/08 - Amergin

Licence 5/08 incorporates part-blocks 47/25, 48/21 and 48/22 on the north-western flank of the North Celtic Sea Basin. Situated in water depths of c.100 metres, the blocks cover an area of 449 sq kms and are approximately 30km from the south coast of Ireland.

The Amergin Prospect is a tilted fault block with a primary reservoir objective in Upper & Middle Jurassic sandstone & oolithic carbonate sequences. The primary Jurassic reservoir target tested at a rate of 6,467 bopd in the Gulf Oil 49/9-2 discovery of the Helvick Field in 1983. Secondary reservoir targets may exist in deeper Jurassic (Sinemurian) sandstones and shallower Cretaceous (Wealden) sandstones

 

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