Lansdowne Oil & Gas

Lansdowne's portfolio consists of Cretaceous gas exploration and appraisal assets that primarily flank the Marathon Oil operated Kinsale Head and Seven Heads gas-fields and associated infrastructure. Lansdowne, through the acquisition of Milesian Oil & Gas Limited in December 2007, acquired a substantial position along the basin margin in already identified Jurassic exploration targets with potential for oil and gas. Lansdowne further consolidated its position in the NCSB with the award of a Licensing Option giving it, and its joint-venture partners, rights to the proven oil productive horizons beneath the Seven Heads gas-field discovered by the Esso/Marathon consortium in the 1970s. Oil from Cretaceous reservoirs was successfully tested at flow rates of between 1,300 bopd and 1,600 bopd, from three previously drilled wells on what is now called the Barryroe Oilfield.

Lansdowne has targeted the Irish offshore shallow shelf areas for exploration and exploitation as it considers the proven oil and gas productive NCSB relatively underexplored in the context of the North Sea neighbouring basins. Lansdowne's portfolio of opportunities offers a relatively low-cost shallow water drilling environment that combined with competitive fiscal terms afford a realistic expectation of high returns on investment within the medium term. Lansdowne's in-house knowledge and experience as provided by its management and technical team, coupled with its comprehensive data-base, assures its competitive advantage within the industry in this region.

Lansdowne Oil & Gas Plc continues to pursue its focused approach to explore and develop its licensed areas in the North Celtic Sea basin, off the south coast of Ireland.

The Company continues its strategy of evaluating quality drillable prospects on its licensed areas and combining a long-term exploration programme for commercial oil with near-term exploitation of shallow gas targets. As a result, Lansdowne now holds rights, through its wholly owned subsidiaries, to five Standard Exploration Licences and a Licensing Option.

LICENCE 4/07 MIDLETON EAST KINSALE PROSPECT

Standard Exploration Licence 4/07

Licence 4/07 incorporates part-blocks 49/11, 49/12, 49/17 and 49/18 immediately south-east of the Kinsale Head Gas field along the axis of the North Celtic Sea Basin. The licence encompasses an area of 542 sq. kms and is currently held 100% by Lansdowne. This licence contains the Midleton and the East Kinsale gas satellite prospects.

Midleton Prospect

• The Midleton Prospect lies approximately 20 km northeast of the Kinsale Head gas field (c. 1.7 TCF reserves) and also 20km to the east of the Ballycotton gas field (c. 60 bcf reserves).
• The producing reservoir in the Ballycotton and Kinsale Head gas fields is the Lower Cretaceous Greensand / 'A' Sand. The Greensand / 'A' Sand also forms the reservoir target in the Midleton Prospect and has been established to be present with good reservoir quality in the nearby 49/11-1 and 49/11-2 wells, which were drilled in downdip locations.
• Midleton lies along a trend of inverted structures along the northern margin of the basin that includes the Ballycotton Field.
• Amplitude brightening at Greensand 'A' Sand level is seen on seismic lines across the Midleton Prospect, similar to that seen on lines across the Ballycotton Field.

 Midleton has been assessed as having 45 bcf P50 reserve potential.

East Kinsale Prospect

• The East Kinsale Prospect area lies some 15 to 20 km to the east of the Kinsale Head Field (c 1.7 TCF reserves) and immediately to the north of the Old Head gas field, established recently by the 49/23-1, 49/23-2 and 49/23-2Z wells.
• A number of low relief anticlinal closures have been mapped, some of which may form extensions of the Old Head accumulation.
• A NE -SW trending faulted anticline that may form a separate structure has been labelled the East Kinsale Prospect and this shows evidence of gas escape on seismic.

STANDARD EXPLORATION LICENCE 5/07 ROSSCARBERY

Licence 5/07 incorporates part-blocks 48/17, 48/18,48/19, 48/22 and 48/24 adjacent to and immediately north-west of the Kinsale Head Gas field. The licence encompasses an area of 366 sq. kms, lies in water depth of circa 100 metres, and is currently held 99% by Lansdowne as operator.

This licence contains the Galley Head (48/18-1) and Carrigaline (48/24-4) gas discoveries and the Rosscarbery, West Rosscarbery and SE Rosscarbery gas prospects.

To read more please Click Here.

STANDARD EXPLORATION LICENCE 5/08 AMERGIN

Licence 5/08 incorporates part-blocks 47/25, 48/21 and 48/22 on the north-western flank of the North Celtic Sea Basin. Situated in water depths of c.100 metres, the blocks cover an area of 449 sq kms and are approximately 30km from the south coast of Ireland.

• Two large pre-rift Jurassic structures, Amergin and Eremon, have been mapped on 2D seismic. 
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• Amergin is a tilted fault block with a primary reservoir objective in Upper & Middle Jurassic sandstone & oolithic carbonate sequences. The primary Jurassic reservoir target tested at a rate of 6,467 bopd in the Gulf Oil 49/9-2 discovery of the Helvick Field in 1983. Secondary reservoir targets may exist in deeper Jurassic (Sinemurian) sandstones and shallower Cretaceous (Wealden) sandstones.
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• The Eremon structure is a northeast-southwest trending horst block mapped at Jurassic level, the only structure of this type identified on the northern flank of the basin.
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• Lansdowne acquired 489 kms of new 2D seismic data in May 2008 over both the Amergin and Eremon structures. 3d seismic shot in 2011 is currently being processed.
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• This data has been processed and interpreted.
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• The new 2008 2D seismic data has resulted in much better imaging of the Jurassic structures and has confirmed Amergin as a robust structural closure. 3D seismic was shot in 2011 and is currently in processing.

LICENCE 2/07  - 49/9p - HELVICK OILFIELD

The Helvick field is situated some 40km offshore Ireland in c. 80m (265 ft) water depth. The field was discovered in 1983 by Gulf Oil with the drilling of the 49/9-2 discovery well. This well was tested and flowed at a cumulative rate of c. 10,000 BOPD from four zones.

The Helvick oil is a light (44° API) and non-waxy crude oil, contained in high permeability Upper Jurassic sands. The field has been appraised by the 49/9-3 and 49/9-6, 6Z wells which have resulted in estimates of in place resources of c.10 million barrels.

Despite modest in place resources, the high productivity of the Helvick reservoir could allow for commercial development of the field. Providence, as Operator, has carried out a review of a number of low cost development options that, under the current conditions of high oil price, indicate commercial production could be achieved.

Further work is planned to lead to a development decision in 2011 and a fast track development could lead to first oil within 2 years of project sanction.

STANDARD EXPLORATION LICENCE 1/11

Licence1/11 ("Barryroe") incorporates part blocks 48/22, 48/23, 48/24, 48/27, 48/28, 48/29, 48/30 covering an area of 316.36 sq km along the axis of the North Celtic Sea Basin.

The Barryroe Licence is held by Lansdowne (40 per cent), Island Oil & Gas plc ("Island") (30 per cent) and Providence Resources plc ("Providence") (30 per cent). Part of the Barryroe acreage lies beneath the Seven Heads Gas Field, with the boundary between the two concessions lying at 4,000ft (approximately 1,250m) sub-sea.

Three previous wells tested oil in the Barryroe Licence acreage which lies directly below the Marathon operated Seven Heads Gas Field. The reservoir sands are in the Cretaceous Middle and Lower Wealden sequences between 1,400m and 2,300m (approximately 4,600 to 7,550ft) below sea level.

Two wells drilled by Esso in 1973/1974 tested oil. Well 48/24-1 from Middle Wealden sands at an aggregate rate of 1300 barrels per day and 48/28-1 tested oil from a Middle Wealden sand at 1527 barrels per day. A third well, 48/24-3 drilled by Marathon in 1990, tested oil from Lower Wealden sands at an aggregate rate of 1619 barrels per day.

To read more please Click Here.

LICENCING OPTION 09/1 – “LEE”

Licensing Option 09/1  covers parts of blocks 48/14, 48/15, 49/11 and 49/12, and lies along the northern margin of the North Celtic Sea Basin. The Licensing Option has been exclusively granted to Lansdowne.

The primary exploration target over the acreage is for oil in Jurassic sands anticipated to lie at depths between 1,200 and 3,000 m (3,900 and 10,000 ft) subsea. Water depth over the Licensing Option is around 85 – 90m (280 – 295 ft).

The initial work programme for the new Licensing Option will focus upon reprocessing the existing seismic data to improve the imaging of the Jurassic section. The  2D seismic data acquired in 2008 by Lansdowne over the Amergin Prospect in Licence 5/08, also lying on the northern margin of the North Celtic Sea Basin, has demonstrated the improvements that modern seismic acquisition and processing can achieve. Lansdowne anticipates being able to replicate this improvement in data quality over Licensing Option 09/1

DIRECTORS

John Greenall (Non-Executive Chairman)

Dr Stephen Boldy (Chief Executive Officer)

Emmet Kevin Brown (Director of Business Development)

Christopher Moar (Finance Director and Company Secretary)

Steven Bertram (Non-Executive Director)

Viscount Torrington (Non-Executive Director)

Steven George Lampe (Non-Executive Director)

For director biographies please click here 

The total number of ordinary 5p shares in issue is 122,358,159.
The major shareholders are as follows.

The Company holds no shares as treasury shares.

Updated from Lansdowne Oil and Gas website 19.03.2012