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Lansdowne Oil & Gas PLC - North Celtic Sea-focused oil and gas company - Says focus is on progressing its Energy Charter Treaty claim against Ireland following the refusal to award a lease undertaking for the Barryroe oil and gas field, as it believes that an alternative pathway, allowing the development of Barryroe, would deliver greater energy security at lower cost and with lower associated emissions.
On May 22, the company said Barryroe received a letter from the Irish Department of the Environment, Climate & Communications indicating that the Barryroe lease undertaking would not be granted. Lansdowne has invested USD20 million in the Barryroe project. Confirms legal advisors have now submitted a letter to Ireland under the Energy Charter Treaty, requiring Ireland to participate in discussions with a view to settling the dispute within three months of the date of such notice. Receipt of this letter has been acknowledged.
Current stock price: 0.095 pence
12-month change: down 80%
By Sabrina Penty, Alliance News reporter
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