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25 Jul 2013 07:05
Lansdowne Oil & Gas plc
("Lansdowne")
Operational Update - Barryroe
25 July 2013
Lansdowne Oil & Gas, the North Celtic Sea focussed, oil and gas exploration company welcomes the announcement today by Providence Resources P.l.c. ("Providence"), as Operator, of a financial update (the "Financial Update") prepared by Netherland Sewell & Associates Inc. ("NSAI") estimating the contingent resource and cash flows attributable to Providence in connection with the Barryroe oil field ("Barryroe").
The Financial Update (a summary excerpt of which is posted on the Providence website at www.providenceresources.com), complements the earlier contingent resource audit by NSAI, published in April 2013, on the in-place hydrocarbon and recoverable resources for the Basal Wealden A sand oil reservoir.
Lansdowne holds a 20% interest in Barryroe which is located in Standard Exploration Licence (SEL) 1/11 and Licensing Option (LO) 12/4, in approximately 100 metre water depth about 50 kilometres off the south coast of Ireland.
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For further information please contact:
Lansdowne Oil & Gas plc Steve Boldy
| +353 1 495 9259 |
Cenkos Securities plc Jon Fitzpatrick Neil McDonald
|
+44 (0) 20 7397 8900 +44 (0) 131 220 6939 |
FTI Consulting Billy Clegg Ben Brewerton Georgia Mann
|
+44 (0) 20 7269 7157 +44 (0) 20 7269 7279 +44 (0) 20 7269 7212 |
Qualified Person Review
This release has been reviewed by Stephen Boldy, Chief Executive of Lansdowne, who is a petroleum geologist with 32 years' experience in petroleum exploration and management. Dr. Boldy has consented to the inclusion of the technical information in this release in the form and context in which it appears.
Notes to Editors
Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focussed, oil and gas exploration company quoted on the AIM market and head quartered in Dublin.
Lansdowne holds extensive acreage, with a large 3D seismic database in the North Celtic Sea basin, an emerging under-explored province. Lansdowne has a balanced, technically mature portfolio position, covering both highly prospective oil and gas prospects, in three play types with substantial equity stakes and adjacent to existing infrastructure.
In addition to its 20% stake in the transformational Barryroe field, Lansdowne has three drill ready prospects defined on 2011 3D seismic data , with a farm-out data room exercise on-going to identify partners for a three well drilling programme in 2014.
For more information on Lansdowne, please refer to www.lansdowneoilandgas.com
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