Stephen Boldy, CEO Lansdowne Oil & Gas (LOGP.L) Interview

Dec 03, 2020, 02:02 PM
Steve Boldy CEO of Lansdowne Oil & Gas commented: We are delighted to have signed the Farm-out Agreement for the Barryroe field, which provides a clear path forward to production of oil and gas via the Early Development Programme.

Indigenous energy supplies for Ireland will become increasingly important in light of declining gas production from the Corrib Field and Barryroe will make a critical contribution as Ireland transits to a low carbon future. Lansdowne also supports fully the initiatives being pursued to evaluate Carbon Capture and Storage potential to accompany production. We look forward to working closely with EXOLA and SpotOn to progress the project to fruition.

Lansdowne Oil & Gas plc (AIM: LOGP), the North Celtic Sea focused, oil and gas company, is pleased to provide a commercial update on Standard Exploration Licence ("SEL") 1/11 which includes the Barryroe oil and gas field. Lansdowne holds a 20% interest in SEL1/11 through its 100% owned subsidiary, Lansdowne Celtic Sea Limited, with EXOLA DAC ("EXOLA"), a wholly owned subsidiary of Providence Resources, holding the remaining 80% and being Operator of the Licence, collectively the "Barryroe Partners". SEL1/11 lies in c. 100 metre water depth in the North Celtic Sea Basin and is located c. 50 km off the south coast of Ireland.