The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Steve Boldy, the Chief Executive Officer of the Company (responsible for arranging release of this announcement).
22 November 2022
Lansdowne Oil & Gas plc
("Lansdowne" or the "Company")
Barryroe Lease Undertaking Application
Further to the announcement issued on 31 October regarding the application for a Lease Undertaking for the Barryroe oil and gas field, Lansdowne Oil & Gas ("Lansdowne" or "the Company") is pleased to announce that it has submitted additional material confirming financial capability, as requested by the Department of the Environment, Climate and Communications ("DECC").
Lansdowne also notes the announcement issued today by Barryroe Offshore Energy Plc that they have secured funding for up to €40 million, which covers 100% of the estimated cost of the work programme as set out in the Lease Undertaking application.
Award of a Lease Undertaking is subject to Ministerial consent. Upon award, drilling is now likely to take place in 2024, in order to conduct drilling operations in the fair- weather window.
For further information please contact:
| Lansdowne Oil & Gas plc | +353 1 963 1760 |
| Steve Boldy | |
| | |
| SP Angel Corporate Finance LLP | +44 (0) 20 3470 0470 |
| Nominated Adviser and Joint Broker | |
| Stuart Gledhill | |
| Richard Hail | |
| | |
| | |
| Tavira Financial Limited | +44 (0) 20 3192 1739 |
| Joint Broker | |
| Oliver Stansfield | |
Notes to editors:
About Lansdowne
Lansdowne Oil & Gas (LOGP.LN) is a North Celtic Sea focused, oil and gas exploration and appraisal company quoted on the AIM market and head quartered in Dublin.
For more information on Lansdowne, please refer to www.lansdowneoilandgas.com.
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