Lansdowne Oil & Gas (LOGP.L, LOGP LN)
Lansdowne Oil & Gas is an Irish oil and gas exploration company that is solely focussed on the Celtic Sea, located off the southern coast of Ireland. Through its licences, it has a share in contingent resources of both oil and gas. In addition, its portfolio also presents the opportunity to drill for gas near existing infrastructure and also to drill for high value oil targets. Its licences contain all the petroleum systems established in the Celtic Sea so far. Lansdowne has a 20% share in the Barryroe field, located in the western end of the Celtic Sea. Recent drilling has shown that the waxy crude identified by former activity can be readily produced with flow rates surpassing best pre-drill expectations. The field is a likely candidate for the first commercial oil project offshore Ireland. Lansdowne has a 100% stake in the Amergin licence, which contains oil targets similar to Barryroe (cretaceous oil) and also the small Helvick field (Jurassic oil). It also has a 100% share in several licences that contain both existing gas fields and additional gas targets (Rosscarbery and Midleton). A farm-out programme is underway with a view to drilling Amergin and the Rosscarbery and Midleton targets in 2013. Lansdowne is looking for its share of costs to be paid for in return for providing equity in the licences. Lansdowne is managed by experienced industry professionals with extensive knowledge of offshore Ireland. The group is listed on the AIM.
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