Lansdowne contracts 3D Seismic Vessel

RNS Number : 8113D

Lansdowne Oil & Gas plc

29 March 2011

 



March 29 2011

Lansdowne Oil & Gas plc

Lansdowne contracts 3D Seismic Vessel for Survey in Celtic Sea

Further to the announcement made on 16 March 2011, Lansdowne Oil & Gas plc, ("Lansdowne") is pleased to announce it has signed a contract with Polarcus Limited ("Polarcus") for the acquisition of 3D seismic surveys over the Rosscarbery, Amergin and Midleton Prospects in the North Celtic Sea, offshore Ireland, covering an aggregate area of approximately, 300 square km.

The Lansdowne survey is expected to commence in early July and will follow on from the 3D seismic survey acquisition by Polarcus over the Barryroe oilfield in which Lansdowne has a 20% interest.

Contacts

Lansdowne Oil & Gas plc
Steve Boldy	Chief Executive Officer	[phone]
Chris Moar	Finance Director	[phone]
finnCap
Sarah Wharry	Corporate Finance	+ 44 20 7220 0567

About Lansdowne

Lansdowne is an exploration and appraisal oil and gas company listed in London on the AIM Market (Symbol: LOGP). Lansdowne holds a balanced portfolio of oil discoveries, low and moderate risk gas prospects near existing infrastructure and moderate risk oil prospects. The Company is focused on the underexplored North Celtic Sea Basin which has proven petroleum systems in place for both oil and gas. For more information, visit the Company's website: www.lansdowneoilandgas.com

Reservoir targets for exploration prospects Amergin  (100%)  and Rosscarbery  (99%)  have estimated net combined P50 technically recoverable oil amounting to 80.8 MMBbls

Rosscarbery (99%) and Midleton (100%) exploration prospects also have gas reservoir targets with Lansdowne's net combined P50 technically recoverable gas amounting to 215 bscf

This resource update has been reviewed and approved by Steve Boldy, Chief Executive of Lansdowne. Steve Boldy is a geology graduate with a Ph.D from Trinity College Dublin and is a member of the Petroleum Exploration Society of Great Britain. He has 30 years experience in the oil and gas exploration sector and is a qualified person as defined in the guidance note for Mining, Oil & Gas Companies, March 2006 of the London Stock Exchange.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

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