30 August 2007

Lansdowne Oil & Gas plc (“Lansdowne” or “the Company”)

Interim results for the six months to 30 June 2007

Lansdowne, the Irish focused oil and gas exploration company, announces unaudited interim results for the six months to 30 June 2007.

Financial Highlights

  • Loss after tax for period £816,000 (2006 : £166,000)
  • Loss includes £544,000 write-off of intangible exploration assets

Operational highlights

  • Licence 4/07 granted 100 per cent to Company over area which includes Midleton and East Kinsale prospect areas
  • Licence 5/07 granted to Company (77 per cent) over area containing Rosscarbery prospect
  • Potentially commercial gas discovery by Island Oil and Gas plc on neighbouring acreage demonstrates the viability of the gas play in the Celtic Sea.
  • Celtic Sea remains a favourable tax regime for operations after publication of new Irish fiscal terms

Johnny Greenall, Chairman of Lansdowne, commented:

The Group is delighted to have been awarded the Rosscarbery and Midleton / East Kinsale Licences and is already moving ahead to start planning for drilling the key prospects. Discussions with potential farm-in partners have been continuing and the recent clarification on the licence position and the fiscal terms will allow us to move ahead on a much firmer footing.

Click here to view the full Report (PDF format)


2011RPS Energy, Competent Persons Report (“CPR”)
2009RPS Energy, Competent Persons Report (“CPR”), February 2009

Lansdowne Oil and Gas plc
Britannia House
Endeavour Drive
Arnhall Business Park
AB32 6UF
Tel: +44 (0)1224 748480
Fax: +44 (0)1224 748481
Email: info@lansdowneoilandgas.com
Web: www.lansdowneoilandgas.com