Irish exploration firm Lansdowne Oil & Gas saw its share price jump by nearly 15% yesterday on the back of it attracting a development partner for its Celtic Sea assets.
The AIM-listed firm, which is a junior partner at the highly-rated Barryroe field off the Cork coast, has sold an 80% interest in its Midleton/East Kinsale gas prospect to Kinsale Energy; a subsidiary of Malaysian group Petronas.
Under the terms of the deal, Kinsale will take over 80% ownership of the gas prospect in return for covering Lansdowne’s share of the cost of any drilling and well-testing programme up to $2.5m (€2m), with Lansdowne having a free carry.
“Securing a farm-in partner for Midleton is a critical first step to delivering our objective of a multi-well programme in the Celtic Sea which, in addition to exploration wells, we expect to also include further appraisal/pre-development drilling on the Barryroe oil field,” said Lansdowne’s chief executive Steve Boldy yesterday, adding that the company now looked forward to drilling.
The Midleton prospect lies around 20km north-east of the Kinsale Head gas field — which contains about 1.7 trillion cubic feet of gas; and 20km east of the Ballycotton gas field which contains around 60 billion cubic feet of gas.
Lansdowne’s London-based share price was up by 14.94%, yesterday, at 12.5p.
I am not praising anyone but when the sp has been in free fall certain posters relish in its dimise I have a lot of money at stake here and will continue to hold law of average says something will come good eventually last post for now until something fresh to talk about
are you frus!! who is anyone here..we are all shareholders (hopefully) with different aspects/timelines etc etc than others..some see manipulation and others see doom and gloom some see ii"s 100% behind the co...all are different all are not the same or agenda..all are never 1.. in this business its no ones fault no matter how anyone tries to point the finger as it was you/me anyone who pushed the buy or sell button.......expo is in its nature extreme risk.. sle has with its range of assets spread that risk over continents...being small FO etc have to come...sle have and will continue doing so...its been unfortunate lady luck has not been with us regarding drilling etc...doesn't mean it will always continue though and I believe it will change...the market sold you shares and they will gladly take them back at your loss..they will play more games than you or anyone will in a lifetime mate..cheers links
lewino is special to sle, it wont be lumped with any other prospect.imo.next year the Baltic basin will be busy very!!..sm1 has found light sweet crude..50M interval..flowed to the surface unaided(as it says it wasn't)..this one nour prospect will have derisked all the sm1 licence and will have a read across the tarfays basin which sle holds a13.5bill barrel prospect....imo sm1 will throw up more than a lot think here..barry got to be alive a kickin as if not pvr would have released a statement..cheers links
striebs..totally agree..some surprises gonna happen imo with Baltic ..some think its doom and gloom some think there wasn't any water ingression at lecechow that stopped any commercial production and either a new well or sidetrack would be required at extra cost...yes we haven't heard..but back in 2011.. the polish gov wanted state to have noke involved with companies production and have a slice of the action FOC..tax on production wasn't known they could have charged whatever once you were producing(no one would have stood a chance hence the big boys left etc)..now no noke.. tax is known and is free of tax from 2015 to 2020(shale anyway)....when do you really expect any production to start...mmmm takes no workin out lads.cop aint leavin and will learn big time from this last well so will bnk all will be reveiled..time has moved on sle hold 35% of the Permian nigh on 3m acres..3000 or so sq miles..at 20mmboe per sq mile...that could be a lot of oil at 35% without any real cost to sle!.and gas may I add!.. all is not lost like some would like to betray....links
If you think I'm happy with the sp then your more foolish than ever filling the bb with constant carp it's like you are wanting the company to fail you want to relish when the sp is heading south which is more often than not at the moment
We had Morocco off shore to keep Pi's interested . . but that didn't happen. 3 shallow drilling prospects, the first of which failed. Barryroe looks as if it's being kicked down the road. The excitement that surrounded Lewino's vertical has now worn off, since there's no news from the company on drilling the horizontal which really means they have no intention of doing it. . . And you wonder why our SP is ticking down daily. . . The company is probably too occupied at present organising their Xmas bash in some top London eatery to worry about anything else. Lewino will probably be lumped together with the other 'forgotten previous game changers' and farmed out in a couple of years time to someone wanting to earn a quick buck.
here it is for those who wish to see whats goin on!!
Yet in early November, Denis Baupin, Deputy EELV and vice-president of the National Assembly, was alerting Ségolène Royal on an application for permit of the company Realm Energy International and subject to a public consultation for the concession of Kamma in Yonne. It explicitly refers the exploration and exploitation of gas from shale through hydraulic fracturing.
"Particular care will be brought to the treatment of water used for fracturing the shale gas in order to prevent any pollution of groundwater", States the impact record filed by Realm Energy International. Other licenses are also suspected by environmental protection associations to target gas from shale, as demand for Gastins, in Seine et Marne.
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