Lansdowne Oil & Gas Plc (LON: LOGP) released the Strategic Review and Licence Update of Barryroe Field.
- The company has noted the release by the Providence Resources P.l.c. stating that Exola DAC, a subsidiary of Providence and operator of the Barryroe Field, has initiated the regulatory procedure needed to transfer the 50 per cent equity in Standard Operating Licence (SEL), containing the Barryroe field, which is currently assigned to APEC, back to the initial owners.
- The development will ensue that Exola DAC and Lansdowne Celtic Sea Limited reverts to their original 80 per cent and 20 per cent interest respectively on completion.
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