(Aberdeen) Ramco Energy has placed its Irish offshore exploration interests under the control of a newly established company, Lansdowne Oil & Gas, which recently completed a £750,000 fund-raising program. These funds will be used to complete work on existing assets and to build the company's prospect inventory.
The assets comprise Ramco's carried 19.25% interest in a frontier exploration license in the Donegal Basin, and other interests in four Celtic Sea licensing options � Middleton, Rosscarbery, East Kinsale and Seven Heads Oil. Lansdowne will focus on shallow water opportunities on the Irish shelf, and is seeking farm-in partners to co-fund a multi-well program planned during 2006-07. One of the wells will be on Rosscarberry, thought to be a significant gas structure which if commercial could be tied back to the Seven Heads field infrastructure.