Lansdowne's progress stalls offshore Ireland

Lansdowne Oil & Gas' plans for exploration and development offshore Ireland are being held up by a government review.

Offshore staff

DUBLIN, Ireland --Lansdowne Oil & Gas' plans for exploration and development offshore Ireland are being held up by a government review. Last December, the Ramco subsidiary filed applications for standard exploration licenses over areas held under the Middleton, Rosscarberry, and East Kinsale licensing options.

The company also submitted a bid to convert the Seven Heads Oil Licensing option in the Celtic Sea to a Lease Undertaking, which would allow Lansdowne and its partners to evaluate development. But progress stalled due to Ireland's recent general election, and the government's ongoing review of licensing and fiscal terms.

Lansdowne expects an official response soon to these applications. It has also requested an extension to Phase 1 of a license containing block 13/12 offshore County Donegal. Last August, operator Lundin plugged and abandoned a well on the Inishbeg shallow Triassic gas prospect in this block, but according to Lansdowne, the results still indicated potential for a viable hydrocarbon play on the acreage.

06/26/2007

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