Operational Update

RNS Number : 5518K

Lansdowne Oil & Gas plc

18 July 2011

 



OPERATIONAL UPDATE

LANSDOWNE OIL & GAS COMPLETES 3D SEISMIC ACQUISITION OVER THREE PROSPECTS IN THE NORTH CELTIC SEA

Lansdowne Oil & Gas plc ("Lansdowne") the Dublin based oil and gas exploration company, is pleased to announce that it has completed 3D seismic operations on its Amergin, Rosscarbery and Midleton Prospects in the North Celtic Sea, off the south coast of Ireland. The surveys were acquired using the seismic vessel Polarcus Samur.

Steve Boldy, Chief Executive Officer of Lansdowne, commented:

"We are delighted with the performance of the Polarcus Samur and the timely completion of the Amergin, Rosscarbery and Midleton 3D seismic surveys ahead of schedule. The 3D data will now be processed with final results expected to be available in November to allow updated interpretation of the prospects to be made ahead of farming down and planned exploratory drilling in 2012."

 Contacts:

Lansdowne Oil & Gas plc

Steve Boldy, Chief Executive Officer                                                                 [phone]

Chris Moar, Finance Director                                                                            [phone]

finnCap

Sarah Wharry, Corporate Finance                                                                    [phone]

About Lansdowne

Lansdowne is an exploration and appraisal oil and gas company listed in London on the AIM Market (Symbol: LOGP). Lansdowne holds a balanced portfolio of oil discoveries, low and moderate risk gas prospects near existing infrastructure and moderate risk oil prospects. The Company is focused on the underexplored North Celtic Sea Basin which has proven petroleum systems in place for both oil and gas. For more information, visit the Company's website: www.lansdowneoilandgas.com

About Lansdowne Prospects

Standard Exploration Licence 4/07 - Midleton

Licence 4/07 incorporates part-blocks 49/11, 49/12, 49/17 and 49/18 immediately, south-east of the Kinsale Head Gas field along the axis of the North Celtic Sea Basin. The licence encompasses an area of 542 sq. kms and is currently held 100% by Lansdowne. This licence contains the low-risk Midleton and the East Kinsale gas satellite prospects

Standard Exploration Licence 5/07 - Rosscarbery

Licence 5/07 incorporates part-blocks 48/17, 48/18, 48/19, 48/22 and 48/24 adjacent to and immediately north-west of the Kinsale Head Gas field along the axis of the North Celtic Sea Basin. The licence encompasses an area of 365.81 sq. kms, lies in water depth of circa 100 metres, and is currently held 99% by Lansdowne as operator. This licence contains the Rosscarbery, SE & West Rosscarbery gas satellite prospects along with the Galley Head Gas field and the Carrigaline gas discovery.

Standard Exploration Licence 5/08 - Amergin

Licence 5/08 incorporates part-blocks 47/25, 48/21 and 48/22 on the north-western flank of the North Celtic Sea Basin. Situated in water depths of c.100 metres, the blocks cover an area of 449 sq kms and are approximately 30km from the south coast of Ireland.

The Amergin Prospect is a tilted fault block with a primary reservoir objective in Upper & Middle Jurassic sandstone & oolithic carbonate sequences. The primary Jurassic reservoir target tested at a rate of 6,467 barrels of oil per day ("bopd") in the Gulf Oil 49/9-2 discovery of the Helvick Field in 1983. Secondary reservoir targets may exist in deeper Jurassic (Sinemurian) sandstones and shallower Cretaceous (Wealden) sandstones.

About Polarcus

Polarcus is a pure play marine geophysical company with a pioneering environmental agenda, specializing in high-end towed streamer data acquisition from Pole to Pole. Polarcus is launching a fleet of modern 3D seismic vessels using the innovative ULSTEIN X-BOW® design and incorporating advanced maritime technologies for improved operational efficiency with a reduced environmental footprint. Polarcus offers contract seismic surveys and multi client projects worldwide and has its principal office in Dubai, United Arab Emirates. For more information, visit www.polarcus.com

 

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