Lansdowne reviews Celtic Sea options

Offshore staff

DUBLIN, Ireland --Ireland's new government has awarded Lansdowne Oil & Gas two standard exploration licenses over its Rosscarberry, Middleton, and East Kinsale assets in the Celtic Sea.

Lansdowne and its main shareholder, Ramco, believe Ireland's new fiscal terms offer a fairer balance between encouraging exploration, and providing increased returns to the government at a time of higher oil and gas prices.

The company is making plans to drill the best prospects in the licenses, and is maintaining dialogue with potential farm-in partners.

08/20/2007