North Celtic Sea-focussed Lansdowne Oil & Gas has published an operational update citing findings from its latest seismic inversion work in the Galley Head gas accumulation and Midleton and SE Rosscarbery prospects.
Results of the seismic inversion highlighted positive fluid anomalies which were likely indicative of the presence of gas, the group stated. Additional fluid anomalies were also identified in the Upper Wealdon sands in Main Rosscarbery and other prospects.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Steve Boldy, Chief Executive Officer of Lansdowne Oil & Gas, said: "The results of the 3D seismic inversion work are exciting and positively demonstrate the benefits of using the latest technology. The Amergin oil prospect and the gas prospects have been substantially de-risked and the conceptual development studies endorse the commercial possibilities of these prospects."
AIM-listed Lansdowne has its headquarters in Dublin and the group's share price was up 0.9% to 53.50p at 11:22 on Thursday morning.
MF
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
