22nd Jun 2015 07:09
LONDON (Alliance News) - Lansdowne Oil & Gas PLC on Monday said PSE Seven Heads Ltd and a subsidiary of PSE Kindsale Energy Ltd has entered into a contract with Diamond Offshore Drilling (UK) Ltd for the Ocean Guardian drilling rig to be used to drill a well at the Midleton Prospect in the North Celtic Sea.
Kinsale Energy holds an 80% interest in the SEL 4/07 licence, with Lansdowne owning the remaining 20%. PSE Seven Heads is the operator of the licence.
Drilling is expected to take place at the licence in August.
"We are pleased with the rapid progress Kinsale Energy has made since taking over as operator and look forward to the drilling of the Midleton well later this year," said Lansdowne Chief Executive Steve Boldy.
Lansdowne shares were up 14% to 5.9998 pence in early trade, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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