REG - Lansdowne Oil & Gas - Update on Energy Charter Treaty Claim

Lansdowne Oil & GasAnnouncement

26/02/2024 07:00

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RNS Number : 3328E  Lansdowne Oil & Gas plc  26 February 2024

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the retained EU law version
of the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via Regulatory Information Service ("RIS"),
this inside information is now considered to be in the public domain. If you
have any queries on this, then please contact Steve Boldy, the Chief Executive
Officer of the Company (responsible for arranging release of this
announcement).

 

 

26 February 2024

Lansdowne Oil & Gas plc

("Lansdowne" or the "Company")

 

Update on Energy Charter Treaty Claim

 

As announced in January, in light of the Irish Government's refusal to engage
in worthwhile discussions, the Company is focused upon progressing its Energy
Charter Treaty ("ECT") claim against Ireland following the refusal to award a
Lease Undertaking for the Barryroe oil and gas field ("Barryroe").

 

·    Lansdowne has appointed Mantle Law, an international law firm with
offices in London and the United Arab Emirates, whose global team consist of
the best dispute and arbitration lawyers in the construction, infrastructure
and energy sectors.

·    Mantle Law and the Company are in the process of contacting
litigation funders, with a view to providing third-party finance to fund  its
ECT claim and the resulting arbitration process.

 

 

Given the lack of engagement or any ability to have a respectful and frank
conversation with the Irish Government, the Company believes it now has no
alternative other than to pursue vigorously its ECT claim.

 

For further information please contact:

 Lansdowne Oil & Gas plc             +353 1 963 1760
 Steve Boldy

 SP Angel Corporate Finance LLP      +44 (0) 20 3470 0470
 Nominated Adviser and Joint Broker
 Stuart Gledhill
 Richard Hail

 Tavira Financial Limited            +44 (0) 20 3192 1739
 Joint Broker
 Oliver Stansfield

 

 

Notes to editors:

 

About Lansdowne

Lansdowne Oil & Gas (LOGP.LN) is an oil and gas exploration and appraisal
company focused on the North Celtic Sea and quoted on the AIM market and head
quartered in Dublin.

In May 2023 the application for a Lease Undertaking for the Barryroe Field, in
which Lansdowne held a 20% interest, was refused by the Irish Department of
the Environment, Climate and Communications.

In June 2023 Lansdowne announced the commencement of action under the
Arbitration Process of the Energy Charter Treaty.

Since 20 September 2023, Lansdowne has been designated a "Cash-Shell" under
AIM Rule 15.

For more information on Lansdowne, please refer to www.lansdowneoilandgas.com
(http://www.lansdowneoilandgas.com) .

 

 

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