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.
- Loss after tax for period £816,000 (2006 : £166,000)
- Loss includes £544,000 write-off of intangible exploration assets
- 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.
|2011||RPS Energy, Competent Persons Report (“CPR”)|
|2009||RPS Energy, Competent Persons Report (“CPR”), February 2009|
Lansdowne Oil and Gas plc
Arnhall Business Park
Tel: +44 (0)1224 748480
Fax: +44 (0)1224 748481