Licence Update

RNS Number : 3277V

Lansdowne Oil & Gas plc

02 November 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

Licence Update

2 November 2017

Lansdowne Oil & Gas plc ("Lansdowne" or "the Company") notes the announcement today by Providence Resources P.l.c. ("Providence") that the Minister of State at the Department of Communications, Climate Action and Environment has given his consent for, inter alia, the assignment of :

·    10% of Providence's interest in the Helvick Lease Undertaking ("LU") to Lansdowne Celtic Sea Limited

·    10% interest in the Helvick LU to Marginal Field Development Company Limited through a farm-out agreement.

On completion of the farm out agreement, the revised equity participations in the Helvick LU will be Providence Resources P.l.c. (56.25%, Operator), Atlantic Petroleum (Ireland) Limited (16.50%), Sosina Exploration Limited (8.25%), Lansdowne Celtic Sea Limited (9%) and Marginal Field Development Company Limited (10.0%).

For further information please contact:

Lansdowne Oil & Gas plc Steve Boldy	[phone]

Cantor Fitzgerald Europe Nominated Advisor and Joint Broker Sarah Wharry David Porter

[phone]

Beaufort Securities 

Joint Broker                                                                                             [phone]

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 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

 

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