Press Speculation

RNS Number : 0598Y

Lansdowne Oil & Gas plc

20 January 2014

 



Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

 Press Speculation

20 January 2014

Lansdowne Oil & Gas, the North Celtic Sea focussed oil and gas exploration company, notes the RNS issued today by Providence Resources P.l.c.  which addresses recent Press Speculation about the Barryroe oil field.

The Providence announcement stated:

PRESS SPECULATION

Providence Resources P.l.c. ("Providence" or the "Company"), the Irish oil and gas exploration and appraisal company whose shares are quoted in London (AIM) and Dublin (ESM), notes recent press speculation that farm-out discussions regarding its Barryroe oil field may not be progressing to plan and that further appraisal drilling may be required.

Providence provided an update as to the status of the Barryroe farm-out in its end of year statement in December 2013 and considers that there has been no material change to the outlook presented at that time. As publicly stated, Providence's strategy for the future appraisal and development of the Barryroe oil field is to co-venture with a suitable financially and technically capable third party. The parties with which Providence is currently in discussions include major Asian, European and North American oil companies. Given the current pre-development nature of the Barryroe project, an element of further appraisal drilling has always formed an essential part of these discussions.

Neither the Company, nor its broker, Davy provided any comment to the media outlets which published these recent articles notwithstanding that selective excerpts from a Davy research note issued late last year have been referenced.  

Further updates in relation to the Barryroe farm-out will be provided via Providence RNS as and when appropriate.

For further information please contact:

Lansdowne Oil & Gas plc Steve Boldy	[phone]
Cenkos Securities plc Neil McDonald	[phone]
FTI Consulting Ben Brewerton Georgia Mann	[phone] [phone]

 

END

 

 

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