Lansdowne Oil & Gas plc Notification of change in shareholding (4838A)
March 24 2017 - 7:25AM
UK Regulatory
TIDMLOGP
RNS Number : 4838A
Lansdowne Oil & Gas plc
24 March 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via Regulatory Information Service
("RIS"), this inside information is now considered to be in the
public domain. If you have any queries on this, then please contact
Steve Boldy, the Chief Executive Officer of the Company
(responsible for arranging release of this announcement).
Lansdowne Oil & Gas plc
Notification of change in shareholding
24 March 2017
Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") has
today been notified by KPMG LLP, the appointed administrators to
SeaEnergy PLC that they have disposed of SeaEnergy's entire holding
of 30,194,193 shares, representing 5.92% of the outstanding shares
in the Company, through a number of on market transactions.
For further information please contact:
Lansdowne Oil & Gas plc
Steve Boldy +353 1 495 9259
Cantor Fitzgerald Europe
Nominated Advisor and
Joint Broker
Sarah Wharry
David Porter +44 (0) 20 7894 7000
Beaufort Securities
Joint Broker +44 (0) 20 7382 8300
Jon Belliss
Notes to editors:
About Lansdowne
Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea
focussed, oil and gas exploration and appraisal company quoted on
the AIM market and head quartered in Dublin. Lansdowne holds
acreage in the shallow-water North Celtic Sea Basin, including a
20% stake in Exploration Licence SEL1/11 which contains the
Barryroe oil field.
For more information on Lansdowne, please refer to
www.lansdowneoilandgas.com
ABOUT BARRYROE
Barryroe, located in the North Celtic Sea Basin, off the south
coast of Ireland, has had six wells successfully drilled on the
structure. Hydrocarbons have been logged in all six wells, with
flow test results from four wells. Four wells were drilled in the
1970's by Esso with a further appraisal well drilled in 1990 by
Marathon Oil. The sixth well was drilled by Providence in 2011/12.
The oil is light (43(o) API) with a wax content of c. 17-20%. The
successfully tested reservoir sands are of Cretaceous Middle and
Lower Wealden age located between c. 4,500' TVDSS and 7,550' TVDSS.
The field is covered by both 2D and 3D seismic, the latter which
was acquired in 2011.
Audited (NSAI/RPS) on block resources amount to 1.048 billion
barrels in place, with an estimated P50 recoverable resources of
311 MMBO (plus associated gas). A further 778 MMBO barrels in place
have been identified in incremental sands, though these sands have
yet to be tested.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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